Royal Bank Of Canada Raises Precision Drilling (TSE:PD) Price Target to C$100.00

Precision Drilling (TSE:PD) (NYSE:PDS) had its target price hoisted by equities research analysts at Royal Bank Of Canada from C$89.00 to C$100.00 in a note issued to investors on Thursday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank Of Canada’s price objective would suggest a potential upside of 33.69% from the stock’s previous close.

A number of other analysts have also recently weighed in on the company. BMO Capital Markets lowered their price objective on Precision Drilling from C$100.00 to C$90.00 in a research report on Thursday, April 17th. CIBC cut their price target on shares of Precision Drilling from C$115.00 to C$95.00 in a report on Thursday, April 10th. Raymond James Financial lifted their price objective on shares of Precision Drilling from C$119.00 to C$120.00 and gave the company an “outperform” rating in a research note on Thursday. National Bankshares dropped their price objective on shares of Precision Drilling from C$110.00 to C$100.00 and set a “sector perform” rating on the stock in a report on Thursday, July 3rd. Finally, ATB Capital reduced their target price on shares of Precision Drilling from C$87.00 to C$84.00 and set an “outperform” rating for the company in a report on Wednesday, July 2nd. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$95.14.

Precision Drilling Stock Down 4.1%

Precision Drilling stock opened at C$74.80 on Thursday. The company has a debt-to-equity ratio of 51.98, a current ratio of 1.54 and a quick ratio of 1.36. The stock has a market capitalization of C$1.06 billion, a price-to-earnings ratio of 4.40, a PEG ratio of -3.24 and a beta of 2.76. Precision Drilling has a 1-year low of C$51.38 and a 1-year high of C$102.66. The business has a fifty day moving average price of C$67.60 and a 200-day moving average price of C$68.51.

Precision Drilling Company Profile

Precision Drilling Corp is a leader in North American oil and gas services. It is a provider of contract drilling and completion and production services primarily to oil and natural gas exploration and production companies in Canada. Its segments are Contract Drilling Services which is the majority key revenue generator and other segments include Completion and Production Services.