Precision Drilling (TSE:PD) Price Target Raised to C$120.00

Precision Drilling (TSE:PDGet Rating) (NYSE:PDS) had its price target hoisted by CIBC from C$115.00 to C$120.00 in a research note released on Tuesday, BayStreet.CA reports.

PD has been the topic of several other research reports. BMO Capital Markets upped their price target on Precision Drilling from C$130.00 to C$140.00 in a report on Thursday, July 28th. National Bankshares upped their price target on Precision Drilling from C$80.00 to C$120.00 in a report on Monday, April 25th. TD Securities boosted their target price on shares of Precision Drilling from C$130.00 to C$135.00 and gave the company a buy rating in a research note on Thursday, July 28th. ATB Capital boosted their target price on shares of Precision Drilling from C$130.00 to C$133.00 and gave the company an outperform rating in a research note on Friday, April 29th. Finally, Raymond James raised shares of Precision Drilling from an outperform rating to a strong-buy rating and boosted their target price for the company from C$115.00 to C$130.00 in a research note on Tuesday, May 17th. Three analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of C$107.43.

Precision Drilling Price Performance

TSE PD opened at C$81.37 on Tuesday. The stock has a market capitalization of C$1.11 billion and a P/E ratio of -5.87. Precision Drilling has a 1 year low of C$35.82 and a 1 year high of C$109.29. The business’s fifty day moving average is C$84.60 and its two-hundred day moving average is C$81.81. The company has a debt-to-equity ratio of 101.68, a quick ratio of 1.30 and a current ratio of 1.39.

Insider Transactions at Precision Drilling

In other news, Senior Officer Darren Ruhr sold 1,176 shares of the company’s stock in a transaction on Tuesday, June 7th. The shares were sold at an average price of C$106.72, for a total value of C$125,508.13. Following the transaction, the insider now directly owns 18,567 shares of the company’s stock, valued at C$1,981,555.65.

About Precision Drilling

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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 in two segments, Contract Drilling Services; and Completion and Production Services.

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Analyst Recommendations for Precision Drilling (TSE:PD)

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