Precision Drilling (TSE:PD) Hits New 1-Year Low After Insider Selling

Shares of Precision Drilling Co. (TSE:PD - Get Free Report) NYSE: PDS reached a new 52-week low on Friday following insider selling activity. The company traded as low as C$76.20 and last traded at C$76.64, with a volume of 67101 shares traded. The stock had previously closed at C$77.80.

Specifically, Director Carey Thomas Ford sold 5,108 shares of the stock in a transaction dated 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 the business's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of C$77.66, for a total transaction of C$263,499.70.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. TD Securities dropped their price objective on shares of Precision Drilling from C$100.00 to C$89.00 and set a "hold" rating for the company in a report on Friday, February 14th. ATB Capital raised their price target on Precision Drilling from C$109.00 to C$123.00 in a report on Tuesday, December 10th. Royal Bank of Canada reduced their price objective on Precision Drilling from C$121.00 to C$110.00 in a research note on Friday, February 14th. CIBC lowered their target price on Precision Drilling from C$125.00 to C$115.00 in a research note on Friday, February 14th. Finally, Raymond James reduced their price target 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 assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of C$119.00.

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Precision Drilling Stock Down 2.5 %

The firm has a 50 day moving average price of C$85.70 and a 200-day moving average price of C$88.00. The firm has a market cap of C$1.06 billion, a price-to-earnings ratio of 4.37, a price-to-earnings-growth ratio of -3.24 and a beta of 2.76. The company has a debt-to-equity ratio of 51.98, a current ratio of 1.54 and a quick ratio of 1.36.

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.