Precision Drilling (TSE:PD) Given New C$130.00 Price Target at CIBC

Precision Drilling (TSE:PD) (NYSE:PDS) had its target price increased by equities researchers at CIBC from C$110.00 to C$130.00 in a research report issued to clients and investors on Monday, BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. CIBC’s price objective points to a potential upside of 39.02% from the company’s previous close.

Several other research firms have also recently issued reports on PD. Evercore cut their target price on Precision Drilling from C$142.00 to C$139.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 7th. BMO Capital Markets raised their target price on Precision Drilling from C$125.00 to C$130.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 7th. Stifel Nicolaus raised their target price on Precision Drilling from C$115.00 to C$125.00 and gave the stock a “buy” rating in a research note on Thursday, April 18th. Royal Bank of Canada cut their target price on Precision Drilling from C$125.00 to C$122.00 in a research note on Friday, January 12th. Finally, Raymond James cut their price objective on Precision Drilling from C$137.00 to C$132.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, February 7th. Eight equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Precision Drilling has an average rating of “Buy” and a consensus target price of C$126.73.

Precision Drilling Stock Up 3.6 %

Shares of TSE:PD opened at C$93.51 on Monday. The stock’s 50-day moving average price is C$89.10 and its 200-day moving average price is C$81.90. Precision Drilling has a 12-month low of C$56.42 and a 12-month high of C$104.90. The stock has a market capitalization of C$1.35 billion, a P/E ratio of 4.76, a price-to-earnings-growth ratio of -3.24 and a beta of 2.92. The company has a current ratio of 1.40, a quick ratio of 1.36 and a debt-to-equity ratio of 62.97.

Precision Drilling (TSE:PD) (NYSE:PDS) last announced its quarterly earnings data on Tuesday, February 6th. The company reported C$4.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$2.82 by C$1.88. Precision Drilling had a return on equity of 20.61% and a net margin of 14.93%. The firm had revenue of C$506.87 million for the quarter, compared to analysts’ expectations of C$476.00 million. On average, equities analysts anticipate that Precision Drilling will post 8.6166667 earnings per share for the current year.

Insider Activity

In other news, Senior Officer Veronica H. Foley sold 1,763 shares of Precision Drilling stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of C$62.23, for a total transaction of C$109,711.49. In related news, Director Carey Thomas Ford sold 7,976 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of C$62.23, for a total value of C$496,346.48. Also, Senior Officer Veronica H. Foley sold 1,763 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of C$62.23, for a total transaction of C$109,711.49. Over the last ninety days, insiders sold 21,373 shares of company stock worth $1,329,227. Insiders own 1.32% 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.