Precision Drilling (TSE:PD) Stock Crosses Above 50-Day Moving Average - Time to Sell?

Precision Drilling Co. (TSE:PD - Get Free Report) NYSE: PDS's stock price crossed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of C$86.44 and traded as high as C$89.64. Precision Drilling shares last traded at C$89.20, with a volume of 150,221 shares traded.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. BMO Capital Markets reduced their price objective on Precision Drilling from C$140.00 to C$130.00 in a research note on Friday, October 4th. TD Securities cut their price target on Precision Drilling from C$140.00 to C$120.00 and set a "buy" rating on the stock in a research note on Tuesday, October 8th. Royal Bank of Canada raised their price target on Precision Drilling from C$122.00 to C$125.00 and gave the company an "outperform" rating in a research note on Thursday, August 1st. CIBC raised their price objective on Precision Drilling from C$130.00 to C$140.00 and gave the stock an "outperform" rating in a report on Wednesday, July 31st. Finally, ATB Capital dropped their price objective on Precision Drilling from C$123.00 to C$113.00 in a report on Monday, September 23rd. Eight investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Precision Drilling currently has an average rating of "Buy" and an average target price of C$126.90.

Precision Drilling Price Performance

The company has a debt-to-equity ratio of 56.37, a quick ratio of 1.36 and a current ratio of 1.51. The stock has a market capitalization of C$1.25 billion, a price-to-earnings ratio of 5.52, a P/E/G ratio of -3.24 and a beta of 2.76. The company has a 50-day moving average of C$86.26 and a 200-day moving average of C$92.96.

Insiders Place Their Bets

In other Precision Drilling news, Senior Officer Veronica H. Foley sold 5,335 shares of Precision Drilling stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of C$99.49, for a total value of C$530,779.18. In related news, Senior Officer Veronica H. Foley sold 5,335 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of C$99.49, for a total value of C$530,779.18. Also, Director David Williams sold 3,500 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of C$100.01, for a total value of C$350,035.00. 2.12% of the stock is owned by corporate insiders.

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.