Precision Drilling (TSE:PD) Price Target Raised to C$130.00 at CIBC

Precision Drilling (TSE:PD) (NYSE:PDS) had its price target upped by CIBC from C$110.00 to C$130.00 in a research note released on Monday, BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

Several other equities research analysts have also commented on PD. Evercore dropped their price objective on shares of Precision Drilling from C$142.00 to C$139.00 and set an outperform rating on the stock in a research note on Wednesday, February 7th. Stifel Nicolaus raised their price objective 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. TD Securities dropped their target price on Precision Drilling from C$125.00 to C$115.00 and set a buy rating on the stock in a report on Wednesday, February 7th. BMO Capital Markets increased their target price 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. Finally, Royal Bank of Canada lowered their price target on Precision Drilling from C$125.00 to C$122.00 in a research report on Friday, January 12th. Eight research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of Buy and a consensus price target of C$126.73.

Precision Drilling Stock Down 1.7 %

Shares of TSE:PD opened at C$90.24 on Monday. The firm has a market capitalization of C$1.31 billion, a P/E ratio of 4.62, a P/E/G ratio of -3.24 and a beta of 2.92. The company has a debt-to-equity ratio of 62.97, a quick ratio of 1.36 and a current ratio of 1.40. The stock has a 50 day moving average price of C$89.02 and a 200-day moving average price of C$81.83. Precision Drilling has a 52-week low of C$56.42 and a 52-week high of C$104.90.

Precision Drilling (TSE:PD) (NYSE:PDS) last posted its quarterly earnings data on Tuesday, February 6th. The company reported C$4.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$2.82 by C$1.88. Precision Drilling had a return on equity of 20.61% and a net margin of 14.93%. The business had revenue of C$506.87 million during the quarter, compared to the consensus estimate of C$476.00 million. As a group, equities research analysts anticipate that Precision Drilling will post 8.6166667 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Carey Thomas Ford sold 3,756 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 transaction of C$233,472.96. In other Precision Drilling news, Senior Officer Veronica H. Foley sold 1,763 shares of the business’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of C$62.23, for a total transaction of C$109,711.49. Also, Director Carey Thomas Ford sold 3,756 shares of the company’s stock in a transaction dated 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 the last 90 days, insiders sold 21,373 shares of company stock valued at $1,329,227. 1.32% 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.