Precision Drilling (TSE:PD) Price Target Raised to C$125.00 at Royal Bank of Canada

Precision Drilling (TSE:PD) (NYSE:PDS) had its price objective raised by stock analysts at Royal Bank of Canada from C$122.00 to C$125.00 in a research note issued to investors on Thursday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s price target indicates a potential upside of 20.77% from the company’s current price.

Other research analysts have also recently issued reports about the stock. CIBC raised their price objective on shares of Precision Drilling from C$130.00 to C$140.00 and gave the stock an “outperform” rating in a research note on Wednesday. TD Securities increased their price objective on Precision Drilling from C$115.00 to C$140.00 and gave the company a “buy” rating in a research note on Thursday. ATB Capital raised their target price on shares of Precision Drilling from C$120.00 to C$123.00 in a research report on Thursday. Stifel Nicolaus lifted their price objective on Precision Drilling from C$115.00 to C$125.00 and gave the company a “buy” rating in a research report on Thursday, April 18th. Finally, Raymond James boosted their price objective on shares of Precision Drilling from C$136.00 to C$143.00 and gave the company a “strong-buy” rating in a research note on Thursday. Eight investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Precision Drilling has a consensus rating of “Buy” and a consensus target price of C$131.00.

Precision Drilling Stock Performance

Shares of PD traded down C$2.72 during mid-day trading on Thursday, hitting C$103.50. 66,659 shares of the company’s stock were exchanged, compared to its average volume of 83,610. The company has a current ratio of 1.71, a quick ratio of 1.36 and a debt-to-equity ratio of 62.02. Precision Drilling has a fifty-two week low of C$67.46 and a fifty-two week high of C$109.20. The business’s 50 day moving average is C$96.42 and its two-hundred day moving average is C$91.62. The firm has a market capitalization of C$1.50 billion, a P/E ratio of 6.28, a P/E/G ratio of -3.24 and a beta of 2.90.

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.