Precision Drilling (TSE:PD) Hits New 12-Month Low - Here's Why

Precision Drilling Co. (TSE:PD - Get Free Report) NYSE: PDS shares hit a new 52-week low on Thursday . The stock traded as low as C$62.31 and last traded at C$62.71, with a volume of 262577 shares. The stock had previously closed at C$68.85.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Royal Bank of Canada cut their target price on shares of Precision Drilling from C$121.00 to C$110.00 in a research note on Friday, February 14th. ATB Capital raised 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 lowered their target price on shares of Precision Drilling from C$146.00 to C$141.00 in a research note on Friday, February 14th. CIBC decreased their price target on Precision Drilling from C$125.00 to C$115.00 in a report on Friday, February 14th. Finally, TD Securities cut their target price on 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. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of C$119.00.

Precision Drilling Stock Down 5.6 %

The firm has a 50 day moving average of C$70.51 and a two-hundred day moving average of C$81.51. The company has a current ratio of 1.54, a quick ratio of 1.36 and a debt-to-equity ratio of 51.98. The stock has a market capitalization of C$770.84 million, a PE ratio of 3.19, a P/E/G ratio of -3.24 and a beta of 2.76.

Insider Buying and Selling

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

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.