Precision Drilling (TSE:PD) Hits New 1-Year Low – Here’s What Happened

Precision Drilling Co. (TSE:PD) (NYSE:PDS)’s stock price hit a new 52-week low on Tuesday . The company traded as low as C$62.49 and last traded at C$63.46, with a volume of 179521 shares. The stock had previously closed at C$66.64.

Analyst Ratings Changes

A number of research firms recently weighed in on PD. ATB Capital increased their price objective on shares of Precision Drilling from C$109.00 to C$123.00 in a report on Tuesday, December 10th. CIBC dropped their price objective on shares of Precision Drilling from C$125.00 to C$115.00 in a report on Friday, February 14th. TD Securities dropped their price objective on shares of Precision Drilling from C$100.00 to C$89.00 and set a “hold” rating on the stock in a report on Friday, February 14th. Raymond James dropped their price objective on shares of Precision Drilling from C$146.00 to C$141.00 in a report on Friday, February 14th. Finally, Royal Bank of Canada dropped their price objective on shares of Precision Drilling from C$121.00 to C$110.00 in a report on Friday, February 14th. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Precision Drilling currently has a consensus rating of “Buy” and an average target price of C$119.00.

Precision Drilling Stock Performance

The stock has a market cap of C$909.73 million, a price-to-earnings ratio of 3.76, a PEG ratio of -3.24 and a beta of 2.76. The company has a debt-to-equity ratio of 51.98, a quick ratio of 1.36 and a current ratio of 1.54. The company’s 50 day simple moving average is C$82.01 and its 200 day simple moving average is C$85.76.

Insider Activity

In other Precision Drilling news, Director Carey Thomas Ford sold 5,108 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of C$77.66, for a total value of C$396,686.26. Also, Senior Officer Veronica H. Foley sold 3,393 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of C$77.66, for a total transaction of C$263,499.70. Insiders own 2.12% of the company’s stock.

Precision Drilling Company Profile

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.