Precision Drilling (TSE:PD) Hits New 1-Year Low After Insider Selling

Precision Drilling Co. (TSE:PD) (NYSE:PDS) reached a new 52-week low during mid-day trading on Friday following insider selling activity. The company traded as low as C$76.20 and last traded at C$76.64, with a volume of 67101 shares trading hands. The stock had previously closed at C$77.80.

Specifically, Director Carey Thomas Ford sold 5,108 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of C$77.66, for a total transaction of C$396,686.26. Also, Senior Officer Veronica H. Foley sold 3,393 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of C$77.66, for a total transaction of C$263,499.70.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. ATB Capital raised their price objective on shares of Precision Drilling from C$109.00 to C$123.00 in a report on Tuesday, December 10th. CIBC lowered their price target on shares of Precision Drilling from C$125.00 to C$115.00 in a report on Friday, February 14th. Raymond James lowered their price target on shares of Precision Drilling from C$146.00 to C$141.00 in a report on Friday, February 14th. Royal Bank of Canada lowered their price target on shares of Precision Drilling from C$121.00 to C$110.00 in a report on Friday, February 14th. Finally, TD Securities lowered their price target on shares of Precision Drilling from C$100.00 to C$89.00 and set a “hold” rating for the company in a report on Friday, February 14th. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Precision Drilling currently has an average rating of “Buy” and an average price target of C$119.00.

Precision Drilling Trading Down 1.3 %

The business’s 50-day moving average price is C$86.05 and its two-hundred day moving average price is C$88.34. The company has a market capitalization of C$1.09 billion, a P/E ratio of 4.52, a PEG ratio of -3.24 and a beta of 2.76. The company has a debt-to-equity ratio of 51.98, a current ratio of 1.54 and a quick ratio of 1.36.

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.