Precision Drilling (TSE:PD) Stock Crosses Above 50 Day Moving Average – Here’s Why

Precision Drilling Co. (TSE:PD) (NYSE:PDS) shares crossed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of C$88.52 and traded as high as C$95.37. Precision Drilling shares last traded at C$91.35, with a volume of 186,946 shares changing hands.

Wall Street Analyst Weigh In

PD has been the subject of several research analyst reports. ATB Capital lifted their price target on shares of Precision Drilling from C$109.00 to C$123.00 in a research note on Tuesday, December 10th. TD Securities decreased their target price on Precision Drilling from C$140.00 to C$120.00 and set a “buy” rating for the company in a research report on Tuesday, October 8th. BMO Capital Markets dropped their price target on Precision Drilling from C$140.00 to C$130.00 in a research note on Friday, October 4th. Finally, Raymond James decreased their price objective on Precision Drilling from C$143.00 to C$142.00 in a report on Tuesday, October 15th. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Precision Drilling has a consensus rating of “Buy” and a consensus price target of C$130.50.

Precision Drilling Stock Down 0.6 %

The stock has a fifty day simple moving average of C$88.65 and a two-hundred day simple moving average of C$90.59. The firm has a market cap of C$1.28 billion, a PE ratio of 5.67, a price-to-earnings-growth ratio of -3.24 and a beta of 2.76. 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 (TSE:PD) (NYSE:PDS) last issued its quarterly earnings results on Tuesday, October 29th. The company reported C$2.31 EPS for the quarter, topping analysts’ consensus estimates of C$2.09 by C$0.22. Precision Drilling had a net margin of 11.71% and a return on equity of 15.01%. During the same period last year, the business posted $1.45 EPS.

Precision Drilling Company Profile

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.