Precision Drilling (PD) Stock Price Up 0.9% on Analyst Upgrade
Precision Drilling Co. (TSE:PD) (NYSE:PDS) rose 0.9% on Friday after GMP Securities raised their price target on the stock from C$5.75 to C$6.50. The stock traded as high as C$4.55 and last traded at C$4.49. Approximately 2,170,277 shares changed hands during mid-day trading, a decline of 33% from the average daily volume of 3,249,110 shares. The stock had previously closed at C$4.45.
Other equities research analysts have also recently issued research reports about the stock. Citigroup reduced their target price on shares of Precision Drilling from C$4.25 to C$4.00 in a research note on Friday, November 17th. Canaccord Genuity dropped their price target on shares of Precision Drilling from C$4.25 to C$3.75 in a research report on Monday, October 30th. CIBC dropped their price target on shares of Precision Drilling from C$8.00 to C$7.00 in a research report on Friday, October 20th. Deutsche Bank reissued a “hold” rating and issued a C$4.00 price target on shares of Precision Drilling in a research report on Tuesday, October 10th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a C$6.00 price target on shares of Precision Drilling in a research report on Monday, October 30th. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of C$5.68.
The firm has a market cap of $1,380.00, a price-to-earnings ratio of -12.03 and a beta of 1.43.
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About Precision Drilling
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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