Precision Drilling Co. (PD) Trading Down 4%
Precision Drilling Co. (TSE:PD) (NYSE:PDS)’s share price fell 4% on Thursday . The company traded as low as C$3.33 and last traded at C$3.33. 1,608,237 shares were traded during mid-day trading, a decline of 6% from the average session volume of 1,718,930 shares. The stock had previously closed at C$3.47.
A number of research firms recently commented on PD. Raymond James Financial, Inc. decreased their target price on Precision Drilling from C$6.50 to C$5.75 and set a “speculative buy” rating on the stock in a research report on Tuesday, August 22nd. Canaccord Genuity decreased their target price on Precision Drilling from C$4.75 to C$4.25 in a research report on Wednesday, August 2nd. BMO Capital Markets decreased their target price on Precision Drilling from C$9.00 to C$6.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 1st. Finally, CIBC boosted their target price on Precision Drilling from C$8.00 to C$11.00 in a research report on Thursday, July 20th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Precision Drilling has a consensus rating of “Buy” and an average price target of C$8.05.
The company’s market cap is $979.41 million. The stock’s 50 day moving average price is $3.54 and its 200 day moving average price is $4.94.
In other news, Director Brian James Gibson purchased 35,000 shares of Precision Drilling stock in a transaction dated Tuesday, August 1st. The shares were purchased at an average price of C$3.58 per share, with a total value of C$125,300.00. Also, Director Steven Wayne Krablin purchased 10,000 shares of Precision Drilling stock in a transaction dated Friday, August 18th. The shares were purchased at an average cost of C$2.63 per share, for a total transaction of C$26,300.00. In the last ninety days, insiders have bought 55,000 shares of company stock worth $182,900.
Precision Drilling Company Profile
Precision Drilling Corporation provides oil and natural gas drilling and related services and products. The company operates in two segments, Contract Drilling Services, and Completion and Production Services. The Contract Drilling Services segment offers onshore well drilling services to exploration and production companies in the oil and natural gas industry.
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