BMO Capital Markets Reiterates “Buy” Rating for Precision Drilling (TSE:PD)

Precision Drilling (TSE:PDGet Rating) (NYSE:PDS)‘s stock had its “buy” rating reiterated by equities researchers at BMO Capital Markets in a note issued to investors on Friday, TipRanks reports. They currently have a C$130.00 price objective on the stock. BMO Capital Markets’ price objective would indicate a potential upside of 40.51% from the company’s current price.

Other analysts have also recently issued reports about the stock. ATB Capital boosted their price objective on shares of Precision Drilling from C$130.00 to C$133.00 and gave the stock an “outperform” rating in a research note on Friday. Stifel Nicolaus boosted their price objective on shares of Precision Drilling from C$135.00 to C$142.00 in a research note on Friday. Royal Bank of Canada boosted their price objective on shares of Precision Drilling from C$135.00 to C$147.00 and gave the stock an “outperform” rating in a research note on Friday. Tudor Pickering reaffirmed a “buy” rating on shares of Precision Drilling in a research report on Thursday, February 10th. Finally, Evercore boosted their target price on shares of Precision Drilling from C$78.00 to C$82.00 in a research report on Friday, January 7th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of C$96.83.

Shares of PD stock traded up C$2.40 during midday trading on Friday, reaching C$92.52. 177,464 shares of the company were exchanged, compared to its average volume of 107,561. The company’s 50 day moving average price is C$86.39 and its two-hundred day moving average price is C$63.66. The company has a market cap of C$1.26 billion and a P/E ratio of -6.94. The company has a debt-to-equity ratio of 95.12, a quick ratio of 0.93 and a current ratio of 1.34. Precision Drilling has a 12 month low of C$30.45 and a 12 month high of C$107.67.

Precision Drilling (TSE:PDGet Rating) (NYSE:PDS) last released its earnings results on Thursday, February 10th. The company reported C($2.05) earnings per share for the quarter, missing the consensus estimate of C($1.60) by C($0.45). The firm had revenue of C$295.20 million for the quarter, compared to analyst estimates of C$283.33 million. As a group, sell-side analysts predict that Precision Drilling will post 2.8800001 earnings per share for the current year.

In other news, Senior Officer Veronica H. Foley sold 3,407 shares of the company’s stock in a transaction dated Thursday, February 24th. The stock was sold at an average price of C$65.40, for a total value of C$222,801.45. Following the completion of the sale, the insider now directly owns 10,948 shares of the company’s stock, valued at approximately C$715,946.65. Also, Director Brian James Gibson sold 1,600 shares of the company’s stock in a transaction dated Tuesday, March 1st. The shares were sold at an average price of C$73.42, for a total value of C$117,472.00. Following the completion of the sale, the director now directly owns 4,475 shares of the company’s stock, valued at C$328,554.50. Over the last 90 days, insiders have sold 16,093 shares of company stock worth $1,092,104.

Precision Drilling Company Profile (Get Rating)

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 in two segments, Contract Drilling Services; and Completion and Production Services.

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