Precision Drilling (TSE:PD – Free Report) (NYSE:PDS) had its price target upped by CIBC from C$110.00 to C$130.00 in a research note issued to investors on Monday, BayStreet.CA reports. CIBC currently has an outperform rating on the stock.
Several other analysts also recently weighed in on PD. BMO Capital Markets lifted their target price on shares of Precision Drilling from C$125.00 to C$130.00 and gave the company an outperform rating in a report on Wednesday, February 7th. ATB Capital lifted their price objective on Precision Drilling from C$125.00 to C$126.00 in a research note on Monday, April 8th. Raymond James decreased 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. Stifel Nicolaus lifted their target price on Precision Drilling from C$115.00 to C$125.00 and gave the company a buy rating in a research report on Thursday, April 18th. Finally, Evercore reduced their price target on shares of Precision Drilling from C$142.00 to C$139.00 and set an outperform rating on the stock in a research report on Wednesday, February 7th. Eight equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of Buy and a consensus price target of C$126.73.
Read Our Latest Analysis on PD
Precision Drilling Stock Performance
Precision Drilling (TSE:PD – Get Free Report) (NYSE:PDS) last posted its earnings results on Tuesday, February 6th. The company reported C$4.70 EPS for the quarter, beating analysts’ consensus estimates of C$2.82 by C$1.88. Precision Drilling had a net margin of 14.93% and a return on equity of 20.61%. The company had revenue of C$506.87 million for the quarter, compared to analysts’ expectations of C$476.00 million. Equities analysts forecast that Precision Drilling will post 8.6166667 earnings per share for the current year.
Insider Activity at Precision Drilling
In other news, Senior Officer Veronica H. Foley sold 7,878 shares of Precision Drilling stock in a transaction on Monday, February 12th. The shares were sold at an average price of C$62.16, for a total transaction of C$489,696.48. In other Precision Drilling news, Director Carey Thomas Ford sold 7,976 shares of the stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of C$62.23, for a total value of C$496,346.48. Also, Senior Officer Veronica H. Foley sold 7,878 shares of the firm’s 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. Insiders have sold a total of 21,373 shares of company stock valued at $1,329,227 over the last 90 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.
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