Precision Drilling (TSE:PD) Hits New 12-Month Low – Here’s What Happened

Precision Drilling Co. (TSE:PD) (NYSE:PDS) hit a new 52-week low on Thursday . The stock traded as low as C$72.50 and last traded at C$72.58, with a volume of 191837 shares trading hands. The stock had previously closed at C$74.25.

Wall Street Analysts Forecast Growth

PD has been the topic of several recent research reports. CIBC dropped their price target on shares of Precision Drilling from C$125.00 to C$115.00 in a research report on Friday, February 14th. TD Securities dropped their price target on shares of Precision Drilling from C$100.00 to C$89.00 and set a “hold” rating on the stock in a research report on Friday, February 14th. ATB Capital raised their price target on shares of Precision Drilling from C$109.00 to C$123.00 in a research report on Tuesday, December 10th. Royal Bank of Canada dropped their target price on shares of Precision Drilling from C$121.00 to C$110.00 in a research report on Friday, February 14th. Finally, Raymond James dropped their target price on shares of Precision Drilling from C$146.00 to C$141.00 in a research report on Friday, February 14th. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Precision Drilling currently has a consensus rating of “Buy” and a consensus target price of C$119.00.

Precision Drilling Stock Performance

The company’s 50 day moving average price is C$85.16 and its 200-day moving average price is C$87.37. The company has a debt-to-equity ratio of 51.98, a quick ratio of 1.36 and a current ratio of 1.54. The company has a market cap of C$1.02 billion, a PE ratio of 4.22, a price-to-earnings-growth ratio of -3.24 and a beta of 2.76.

Insider Transactions at Precision Drilling

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

About Precision Drilling

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.