Royal Bank of Canada Has Lowered Expectations for Precision Drilling (TSE:PD) Stock Price

Precision Drilling (TSE:PD) (NYSE:PDS) had its price objective cut by research analysts at Royal Bank of Canada from C$110.00 to C$89.00 in a note issued to investors on Thursday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s target price would suggest a potential upside of 48.23% from the stock’s current price.

Other research analysts have also recently issued reports about the company. TD Securities reduced their price objective on Precision Drilling from C$89.00 to C$69.00 and set a “hold” rating for the company in a research report on Wednesday. CIBC decreased their price target on shares of Precision Drilling from C$115.00 to C$95.00 in a research note on Thursday, April 10th. Finally, Raymond James lowered shares of Precision Drilling from a “strong-buy” rating to an “outperform” rating and cut their price objective for the stock from C$141.00 to C$124.00 in a research report on Wednesday, April 9th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of C$98.33.

Precision Drilling Trading Up 2.7 %

Shares of TSE:PD opened at C$60.04 on Thursday. The firm has a market cap of C$854.37 million, a price-to-earnings ratio of 3.53, a PEG ratio of -3.24 and a beta of 2.76. The company has a quick ratio of 1.36, a current ratio of 1.54 and a debt-to-equity ratio of 51.98. Precision Drilling has a 12 month low of C$51.38 and a 12 month high of C$109.20. The company’s fifty day simple moving average is C$66.38 and its 200 day simple moving average is C$79.79.

Insider Transactions at Precision Drilling

In other Precision Drilling news, Senior Officer Veronica H. Foley sold 3,393 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of C$77.66, for a total transaction of C$263,499.70. Also, Director Carey Thomas Ford sold 5,108 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of C$77.66, for a total value of C$396,686.26. Company insiders own 2.12% of the company’s stock.

Precision Drilling Company Profile

Precision Drilling Corp is a leader in North American oil and gas services. It is a provider of contract drilling and completion and production services primarily to oil and natural gas exploration and production companies in Canada. Its segments are Contract Drilling Services which is the majority key revenue generator and other segments include Completion and Production Services.