Precision Drilling (TSE:PD) Share Price Passes Below 200-Day Moving Average - Here's Why

Precision Drilling Co. (TSE:PD - Get Free Report) NYSE: PDS's share price crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$93.98 and traded as low as C$78.92. Precision Drilling shares last traded at C$79.50, with a volume of 108,316 shares changing hands.

Analysts Set New Price Targets

Several research analysts have commented on PD shares. TD Securities lowered their target price on Precision Drilling from C$140.00 to C$120.00 and set a "buy" rating for the company in a research note on Tuesday, October 8th. BMO Capital Markets cut their target price on shares of Precision Drilling from C$140.00 to C$130.00 in a research note on Friday, October 4th. Royal Bank of Canada increased 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. Raymond James dropped their target price on Precision Drilling from C$143.00 to C$142.00 in a report on Tuesday, October 15th. Finally, ATB Capital cut their target price on Precision Drilling from C$123.00 to C$113.00 in a research note on Monday, September 23rd. Eight equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of C$126.90.

Precision Drilling Price Performance

The firm has a market cap of C$1.20 billion, a P/E ratio of 5.31, a PEG ratio of -3.24 and a beta of 2.76. The company has a current ratio of 1.51, a quick ratio of 1.36 and a debt-to-equity ratio of 56.37. The firm has a 50-day simple moving average of C$88.22 and a 200-day simple moving average of C$93.82.

Precision Drilling (TSE:PD - Get Free Report) NYSE: PDS last announced its quarterly earnings data 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. The firm had revenue of C$429.21 million during the quarter, compared to analysts' expectations of C$423.50 million. Precision Drilling had a return on equity of 15.01% and a net margin of 11.71%.

Insider Buying and Selling at Precision Drilling

In other Precision Drilling news, 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 value of C$350,035.00. In other news, Director David Williams sold 3,500 shares of Precision Drilling stock in a transaction dated Monday, August 26th. The stock was sold at an average price of C$100.01, for a total value of C$350,035.00. Also, Senior Officer Veronica H. Foley sold 5,335 shares of the firm's stock in a transaction 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. 2.12% of the stock is currently owned by 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.