Stifel Nicolaus Boosts Precision Drilling (TSE:PD) Price Target to C$125.00

Precision Drilling (TSE:PD) (NYSE:PDS) had its target price hoisted by equities research analysts at Stifel Nicolaus from C$115.00 to C$125.00 in a research report issued on Thursday, BayStreet.CA reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ target price would suggest a potential upside of 36.18% from the stock’s current price.

Other equities analysts have also recently issued reports about the company. BMO Capital Markets boosted their target price on Precision Drilling from C$125.00 to C$130.00 and gave the company an “outperform” rating in a research note on Wednesday, February 7th. Raymond James reduced their target price on Precision Drilling from C$137.00 to C$132.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, February 7th. Royal Bank of Canada reduced their target price on Precision Drilling from C$125.00 to C$122.00 in a research note on Friday, January 12th. Piper Sandler Companies reduced their target price on Precision Drilling from C$107.00 to C$100.00 and set an “overweight” rating on the stock in a research note on Monday, January 8th. Finally, Evercore reduced their target price on Precision Drilling from C$142.00 to C$139.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 7th. Eight investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of C$124.91.

Precision Drilling Price Performance

Shares of Precision Drilling stock opened at C$91.79 on Thursday. The company has a debt-to-equity ratio of 62.97, a current ratio of 1.40 and a quick ratio of 1.36. The business’s 50 day simple moving average is C$89.02 and its two-hundred day simple moving average is C$81.85. The stock has a market capitalization of C$1.33 billion, a P/E ratio of 4.70, a price-to-earnings-growth ratio of -3.24 and a beta of 2.92. Precision Drilling has a one year low of C$56.42 and a one year high of C$104.90.

Precision Drilling (TSE:PD) (NYSE:PDS) last announced its quarterly earnings results on Tuesday, February 6th. The company reported C$4.70 EPS for the quarter, topping analysts’ consensus estimates of C$2.82 by C$1.88. The business had revenue of C$506.87 million for the quarter, compared to analysts’ expectations of C$476.00 million. Precision Drilling had a return on equity of 20.61% and a net margin of 14.93%. Analysts forecast that Precision Drilling will post 8.6166667 EPS for the current year.

Insider Activity at Precision Drilling

In related news, Senior Officer Veronica H. Foley sold 7,878 shares of Precision Drilling stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of C$62.16, for a total transaction of C$489,696.48. In other Precision Drilling news, Senior Officer Veronica H. Foley sold 7,878 shares of the business’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of C$62.16, for a total value of C$489,696.48. Also, Director Carey Thomas Ford sold 3,756 shares of the business’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of C$62.16, for a total value of C$233,472.96. Insiders have sold 21,373 shares of company stock worth $1,329,227 over the last ninety days. 1.32% 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.