Precision Drilling (TSE:PD) Share Price Passes Below Two Hundred Day Moving Average of $94.26

Precision Drilling Co. (TSE:PD - Get Free Report) NYSE: PDS's share price passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$94.26 and traded as low as C$90.39. Precision Drilling shares last traded at C$90.75, with a volume of 82,853 shares.

Wall Street Analysts Forecast Growth

PD has been the topic of a number of recent research reports. Royal Bank of Canada raised their target price on Precision Drilling from C$122.00 to C$125.00 and gave the stock an "outperform" rating in a report on Thursday, August 1st. TD Securities raised their target price on Precision Drilling from C$115.00 to C$140.00 and gave the stock a "buy" rating in a report on Thursday, August 1st. ATB Capital boosted their price objective on Precision Drilling from C$120.00 to C$123.00 in a research report on Thursday, August 1st. Raymond James increased their target price on Precision Drilling from C$136.00 to C$143.00 and gave the stock a "strong-buy" rating in a research report on Thursday, August 1st. Finally, CIBC boosted their price target 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. Eight equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of C$131.00.

Precision Drilling Trading Up 1.2 %

The stock has a market cap of C$1.31 billion, a P/E ratio of 5.73, a P/E/G ratio of -3.24 and a beta of 2.81. The stock's fifty day moving average is C$97.14 and its 200 day moving average is C$94.24. The company has a debt-to-equity ratio of 56.37, a quick ratio of 1.36 and a current ratio of 1.51.

Precision Drilling (TSE:PD - Get Free Report) NYSE: PDS last released its quarterly earnings results on Tuesday, July 30th. The company reported C$1.44 earnings per share (EPS) for the quarter, topping the consensus estimate of C($0.85) by C$2.29. Precision Drilling had a net margin of 11.71% and a return on equity of 15.01%. The business had revenue of C$429.21 million for the quarter, compared to analyst estimates of C$423.50 million. As a group, equities research analysts predict that Precision Drilling Co. will post 10.3995749 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Senior Officer Veronica H. Foley sold 5,335 shares of Precision Drilling stock in a transaction on Monday, August 26th. The shares were sold at an average price of C$99.49, for a total transaction of C$530,779.18. In other news, Senior Officer Veronica H. Foley sold 5,335 shares of Precision Drilling stock in a transaction on Monday, August 26th. The shares were sold at an average price of C$99.49, for a total transaction of C$530,779.18. Also, Director David Williams sold 3,500 shares of Precision Drilling stock in a transaction on Monday, August 26th. The stock was sold at an average price of C$100.01, for a total transaction of C$350,035.00. Corporate 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.