Insider Selling: Precision Drilling Co. (TSE:PD) Director Sells 3,500 Shares of Stock

Precision Drilling Co. (TSE:PD) (NYSE:PDS) Director David Williams sold 3,500 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of C$100.01, for a total value of C$350,035.00.

Precision Drilling Stock Performance

Shares of PD stock traded up C$0.71 during trading on Wednesday, reaching C$97.86. 17,821 shares of the company’s stock traded hands, compared to its average volume of 81,089. The firm’s 50-day moving average is C$96.92 and its 200 day moving average is C$93.83. The company has a current ratio of 1.51, a quick ratio of 1.36 and a debt-to-equity ratio of 56.37. Precision Drilling Co. has a 1 year low of C$67.46 and a 1 year high of C$109.20. The company has a market capitalization of C$1.39 billion, a P/E ratio of 6.06, a PEG ratio of -3.24 and a beta of 2.81.

Precision Drilling (TSE:PD) (NYSE:PDS) last posted its quarterly earnings results on Tuesday, July 30th. The company reported C$1.44 EPS for the quarter, topping analysts’ consensus estimates of C($0.85) by C$2.29. Precision Drilling had a return on equity of 15.01% and a net margin of 11.71%. The firm had revenue of C$429.21 million during the quarter, compared to analyst estimates of C$423.50 million. Equities research analysts expect that Precision Drilling Co. will post 10.3995749 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on PD shares. Royal Bank of Canada upped their target price on shares of Precision Drilling from C$122.00 to C$125.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. CIBC increased their price target on Precision Drilling from C$130.00 to C$140.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. TD Securities boosted their price objective on Precision Drilling from C$115.00 to C$140.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. ATB Capital upped their price objective on Precision Drilling from C$120.00 to C$123.00 in a research note on Thursday, August 1st. Finally, Raymond James lifted their target price on Precision Drilling from C$136.00 to C$143.00 and gave the stock a “strong-buy” rating in a research note on Thursday, August 1st. Eight analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of C$131.00.

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.