Precision Drilling (TSE:PD) Stock Passes Above 50-Day Moving Average – Here’s Why

Posted by Paula Ricardo on Jan 17th, 2025

Shares of Precision Drilling Co. (TSE:PD – Get Free Report) (NYSE:PDS) passed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of C$87.92 and traded as high as C$94.77. Precision Drilling shares last traded at C$94.19, with a volume of 127,049 shares trading hands.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on PD shares. Raymond James dropped their target price on shares of Precision Drilling from C$143.00 to C$142.00 in a report on Tuesday, October 15th. TD Securities cut their price objective on shares of Precision Drilling from C$140.00 to C$120.00 and set a “buy” rating for the company in a report on Tuesday, October 8th. BMO Capital Markets lowered their target price on Precision Drilling from C$140.00 to C$130.00 in a report on Friday, October 4th. Finally, ATB Capital increased their price target on Precision Drilling from C$109.00 to C$123.00 in a report on Tuesday, December 10th. Seven 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, Precision Drilling presently has an average rating of “Buy” and an average price target of C$130.50.

Read Our Latest Stock Report on PD

Precision Drilling Trading Down 0.6 %

The stock has a market cap of C$1.33 billion, a PE ratio of 5.89, a price-to-earnings-growth ratio of -3.24 and a beta of 2.76. The company has a debt-to-equity ratio of 56.37, a quick ratio of 1.36 and a current ratio of 1.51. The company’s 50-day moving average price is C$88.21 and its 200 day moving average price is C$90.64.

About Precision Drilling

(Get Free Report)

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.