Precision Drilling (TSE:PD) Shares Pass Above 50-Day Moving Average – Time to Sell?

Precision Drilling Co. (TSE:PD) (NYSE:PDS) passed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of C$84.00 and traded as high as C$93.48. Precision Drilling shares last traded at C$92.45, with a volume of 152,101 shares changing hands.

Analyst Upgrades and Downgrades

PD has been the subject of a number of recent analyst reports. Raymond James Financial upped their target price on Precision Drilling from C$132.00 to C$133.00 and gave the company an “outperform” rating in a research report on Friday, October 24th. Atb Cap Markets raised shares of Precision Drilling to a “strong-buy” rating in a research report on Thursday, October 30th. Royal Bank Of Canada increased their price objective on shares of Precision Drilling from C$110.00 to C$117.00 and gave the stock an “outperform” rating in a research note on Friday, October 24th. TD Securities boosted their target price on shares of Precision Drilling from C$77.00 to C$80.00 and gave the company a “hold” rating in a research report on Thursday, October 23rd. Finally, CIBC upped their price target on shares of Precision Drilling from C$100.00 to C$110.00 in a report on Wednesday, October 15th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$102.00.

Precision Drilling Stock Performance

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 cap of C$1.22 billion, a P/E ratio of 22.17, a PEG ratio of -3.24 and a beta of 1.22. The stock has a 50-day simple moving average of C$84.00 and a 200-day simple moving average of C$77.21.

Precision Drilling (TSE:PD) (NYSE:PDS) last posted its quarterly earnings results on Wednesday, October 22nd. The company reported C($0.51) earnings per share for the quarter. The company had revenue of C$462.25 million during the quarter. Precision Drilling had a net margin of 12.53% and a return on equity of 14.96%.

About Precision Drilling

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.