Precision Drilling (TSE:PD) Sets New 52-Week Low - Here's What Happened

Precision Drilling Co. (TSE:PD - Get Free Report) NYSE: PDS hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as C$62.49 and last traded at C$63.46, with a volume of 179521 shares. The stock had previously closed at C$66.64.

Analysts Set New Price Targets

A number of analysts recently issued reports on PD shares. TD Securities lowered 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 report on Friday, February 14th. ATB Capital increased their price objective on shares of Precision Drilling from C$109.00 to C$123.00 in a report on Tuesday, December 10th. Raymond James decreased their price objective on shares of Precision Drilling from C$146.00 to C$141.00 in a report on Friday, February 14th. Royal Bank of Canada decreased their price objective on shares of Precision Drilling from C$121.00 to C$110.00 in a report on Friday, February 14th. Finally, CIBC reduced their target price on shares of Precision Drilling from C$125.00 to C$115.00 in a research report on Friday, February 14th. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Precision Drilling presently has an average rating of "Buy" and a consensus target price of C$119.00.

Precision Drilling Stock Up 1.3 %

The firm has a market cap of C$910.73 million, a PE ratio of 3.77, a P/E/G ratio of -3.24 and a beta of 2.76. 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 firm's 50-day moving average price is C$82.49 and its two-hundred day moving average price is C$85.97.

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Insider Buying and Selling at Precision Drilling

In related news, 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 value of C$263,499.70. Also, Director Carey Thomas Ford sold 5,108 shares of the business's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of C$77.66, for a total transaction of C$396,686.26. 2.12% of the stock is currently owned by corporate insiders.

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.