Precision Drilling (TSE:PD) Shares Cross Below Two Hundred Day Moving Average of $94.62

Precision Drilling Co. (TSE:PD - Get Free Report) NYSE: PDS's share price crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$94.62 and traded as low as C$89.07. Precision Drilling shares last traded at C$90.16, with a volume of 228,733 shares changing hands.

Analysts Set New Price Targets

Several equities analysts have commented on the company. ATB Capital upped their price target on Precision Drilling from C$120.00 to C$123.00 in a report on Thursday, August 1st. Raymond James upped their price target on Precision Drilling from C$136.00 to C$143.00 and gave the company a "strong-buy" rating in a report on Thursday, August 1st. BMO Capital Markets upped their price target on Precision Drilling from C$135.00 to C$140.00 and gave the company an "outperform" rating in a report on Wednesday, July 31st. CIBC upped their price target on Precision Drilling from C$130.00 to C$140.00 and gave the company an "outperform" rating in a report on Wednesday, July 31st. Finally, Royal Bank of Canada upped their price objective 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. Eight research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of C$131.00.

Precision Drilling Stock Performance

The firm has a market capitalization of C$1.27 billion, a P/E ratio of 5.63, a price-to-earnings-growth ratio of -3.24 and a beta of 2.80. The stock has a 50-day moving average of C$95.43 and a 200 day moving average of C$94.62. 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 EPS for the quarter, topping analysts' consensus estimates of C($0.85) by C$2.29. The business had revenue of C$429.21 million for the quarter, compared to analyst estimates of C$423.50 million. Precision Drilling had a return on equity of 15.01% and a net margin of 11.71%. On average, research analysts anticipate that Precision Drilling Co. will post 12.8202568 earnings per share for the current year.

Insider Buying and Selling

In related news, Senior Officer Veronica H. Foley sold 5,335 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of C$99.49, for a total transaction of C$530,779.18. In other Precision Drilling 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 shares were 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.

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.