Precision Drilling (TSE:PD) Hits New 12-Month Low - Should You Sell?

Precision Drilling Co. (TSE:PD - Get Free Report) 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

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

Precision Drilling Stock Down 6.9 %

The stock's 50 day moving average is C$85.16 and its 200 day moving average is C$87.31. 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 capitalization of C$950.14 million, a PE ratio of 3.93, a PEG ratio of -3.24 and a beta of 2.76.

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Insider Buying and Selling at Precision Drilling

In other Precision Drilling news, Senior Officer Veronica H. Foley sold 3,393 shares of the company's stock in a transaction dated Wednesday, February 19th. The stock was 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 value of C$396,686.26. 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.