Precision Drilling (TSE:PD) Reaches New 1-Year Low - Here's What Happened

Precision Drilling Co. (TSE:PD - Get Free Report) NYSE: PDS's share price reached a new 52-week low during trading on Wednesday . The stock traded as low as C$63.16 and last traded at C$65.79, with a volume of 357052 shares. The stock had previously closed at C$66.77.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on PD shares. ATB Capital boosted their target price on shares of Precision Drilling from C$109.00 to C$123.00 in a report on Tuesday, December 10th. Royal Bank of Canada reduced their price target on shares of Precision Drilling from C$121.00 to C$110.00 in a research report on Friday, February 14th. Raymond James lowered their price target on Precision Drilling from C$146.00 to C$141.00 in a report on Friday, February 14th. TD Securities decreased their price objective 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. Finally, CIBC lowered their price target on Precision Drilling from C$125.00 to C$115.00 in a research report on Friday, February 14th. One equities 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. According to MarketBeat.com, Precision Drilling presently has a consensus rating of "Buy" and a consensus target price of C$119.00.

Precision Drilling Stock Up 0.5 %

The company has a debt-to-equity ratio of 51.98, a current ratio of 1.54 and a quick ratio of 1.36. The firm's 50 day moving average price is C$83.42 and its two-hundred day moving average price is C$86.35. The firm has a market cap of C$948.29 million, a price-to-earnings ratio of 3.92, a P/E/G ratio of -3.24 and a beta of 2.76.

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Insider Activity

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

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.