Precision Drilling (TSE:PD) Shares Pass Above 50-Day Moving Average – Should You Sell?

Precision Drilling Co. (TSE:PD) (NYSE:PDS)’s share price crossed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of C$86.44 and traded as high as C$89.64. Precision Drilling shares last traded at C$89.20, with a volume of 150,221 shares traded.

Analysts Set New Price Targets

Several research firms have commented on PD. CIBC increased their target price on shares of Precision Drilling from C$130.00 to C$140.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. TD Securities lowered their target price on shares of Precision Drilling from C$140.00 to C$120.00 and set a “buy” rating on the stock in a research report on Tuesday, October 8th. Raymond James lowered their price target on Precision Drilling from C$143.00 to C$142.00 in a research report on Tuesday, October 15th. BMO Capital Markets lowered their price target on Precision Drilling from C$140.00 to C$130.00 in a research report on Friday, October 4th. Finally, Royal Bank of Canada increased their target price on shares of Precision Drilling from C$122.00 to C$125.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Eight investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of C$126.90.

Precision Drilling Trading Up 0.2 %

The company has a market cap of C$1.26 billion, a price-to-earnings ratio of 5.57, a price-to-earnings-growth ratio of -3.24 and a beta of 2.76. The company’s fifty day moving average price is C$86.44 and its two-hundred day moving average price is C$93.00. The company has a quick ratio of 1.36, a current ratio of 1.51 and a debt-to-equity ratio of 56.37.

Insider Activity at Precision Drilling

In related news, Director David Williams sold 3,500 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of C$100.01, for a total value of C$350,035.00. In other Precision Drilling news, Director David Williams sold 3,500 shares of Precision Drilling stock in a transaction on Monday, August 26th. The shares were sold at an average price of C$100.01, for a total transaction of C$350,035.00. Also, Senior Officer Veronica H. Foley sold 5,335 shares of Precision Drilling stock in a transaction on Monday, August 26th. The stock was sold at an average price of C$99.49, for a total transaction of C$530,779.18. 2.12% of the stock is currently owned by company insiders.

About Precision Drilling

Precision Drilling Corporation, a drilling company, provides onshore drilling, completion, and production services to exploration and production companies in the oil and natural gas and geothermal industries in North America and the Middle East. The company operates through Contract Drilling Services and Completion and Production Services segments.