Precision Drilling Co. (PD) Price Target Cut to C$4.00 by Analysts at Citigroup Inc.
Precision Drilling Co. (TSE:PD) (NYSE:PDS) had its price target lowered by research analysts at Citigroup Inc. from C$4.25 to C$4.00 in a report issued on Friday. Citigroup Inc.’s price target would suggest a potential upside of 16.62% from the stock’s current price.
A number of other analysts have also weighed in on PD. CIBC raised their target price on shares of Precision Drilling from C$8.00 to C$11.00 in a research report on Thursday, July 20th. BMO Capital Markets cut their target price on shares of 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. Canaccord Genuity cut their target price on shares of Precision Drilling from C$4.75 to C$4.25 in a research report on Wednesday, August 2nd. Raymond James Financial, Inc. cut their price target on shares of Precision Drilling from C$6.50 to C$5.75 and set a “speculative buy” rating on the stock in a report on Tuesday, August 22nd. Finally, TD Securities reiterated a “buy” rating and set a C$6.00 price target on shares of Precision Drilling in a report on Tuesday, September 12th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of C$6.23.
Shares of Precision Drilling (PD) traded down C$0.08 during trading on Friday, reaching C$3.43. 1,622,236 shares of the company’s stock were exchanged, compared to its average volume of 1,932,936. Precision Drilling has a 1 year low of C$2.89 and a 1 year high of C$8.21.
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In other news, Director Kevin A. Neveu bought 10,000 shares of the stock in a transaction that occurred on Monday, August 28th. The stock was acquired at an average price of C$3.13 per share, with a total value of C$31,300.00.
Precision Drilling Company Profile
Precision Drilling Corporation (Precision) is an oilfield services company. The Company provides onshore drilling and completion and production services to exploration and production companies in the oil and natural gas industry. The Company operates through two segments: Contract Drilling Services, and Completion and Production Services.
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