Precision Drilling (TSE:PD) Share Price Passes Above Fifty Day Moving Average of $91.85

Precision Drilling Co. (TSE:PD) (NYSE:PDS)’s share price crossed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of C$91.85 and traded as high as C$101.35. Precision Drilling shares last traded at C$98.94, with a volume of 81,799 shares trading hands.

Wall Street Analyst Weigh In

PD has been the topic of several research analyst reports. BMO Capital Markets increased their price objective on Precision Drilling from C$125.00 to C$130.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 7th. CIBC raised their price target on Precision Drilling from C$110.00 to C$130.00 and gave the company an “outperform” rating in a research note on Monday, April 22nd. Piper Sandler Companies lowered their price objective on shares of Precision Drilling from C$107.00 to C$100.00 and set an “overweight” rating for the company in a research note on Monday, January 8th. Stifel Nicolaus boosted their price target on shares of Precision Drilling from C$115.00 to C$125.00 and gave the company a “buy” rating in a report on Thursday, April 18th. Finally, TD Securities dropped their price objective on shares of Precision Drilling from C$125.00 to C$115.00 and set a “buy” rating on the stock in a research note on Wednesday, February 7th. Eight analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of C$127.09.

Precision Drilling Stock Up 1.7 %

The company’s fifty day simple moving average is C$91.85 and its 200-day simple moving average is C$82.78. The firm has a market capitalization of C$1.43 billion, a PE ratio of 6.00, a price-to-earnings-growth ratio of -3.24 and a beta of 2.92. The company has a debt-to-equity ratio of 62.02, a current ratio of 1.71 and a quick ratio of 1.36.

Precision Drilling (TSE:PD) (NYSE:PDS) last announced its earnings results on Thursday, April 25th. The company reported C$2.53 earnings per share for the quarter, missing the consensus estimate of C$2.73 by C($0.20). The business had revenue of C$527.79 million for the quarter, compared to analysts’ expectations of C$539.50 million. Precision Drilling had a return on equity of 15.46% and a net margin of 12.06%. On average, analysts forecast that Precision Drilling Co. will post 9.2823529 EPS for the current year.

Insider Activity at Precision Drilling

In other news, Director Carey Thomas Ford sold 3,756 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$233,472.96. In related news, Senior Officer Veronica H. Foley sold 7,878 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were 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 Precision Drilling stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of C$62.16, for a total transaction of C$233,472.96. Insiders sold 21,373 shares of company stock valued at $1,329,227 in the last three months. 2.09% of the stock is owned by 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.