Precision Drilling (TSE:PD) Reaches New 1-Year Low at $2.24

Share on StockTwits

Precision Drilling Corp (TSE:PD) (NYSE:PDS)’s share price reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as C$2.24 and last traded at C$2.27, with a volume of 1678731 shares. The stock had previously closed at C$2.41.

PD has been the topic of several analyst reports. TD Securities lifted their price target on shares of Precision Drilling from C$5.00 to C$5.50 and gave the stock a “buy” rating in a report on Friday, February 15th. BMO Capital Markets lifted their price target on shares of Precision Drilling from C$4.00 to C$4.25 in a report on Friday, February 15th. Evercore lifted their price target on shares of Precision Drilling from C$3.00 to C$4.00 in a report on Tuesday, February 19th. Evercore ISI boosted their price objective on shares of Precision Drilling from C$3.00 to C$4.00 in a report on Tuesday, February 19th. Finally, Raymond James set a C$5.00 price objective on shares of Precision Drilling and gave the company a “strong-buy” rating in a report on Wednesday, February 27th. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of C$5.02.

The firm has a market cap of $716.83 million and a price-to-earnings ratio of -2.60. The company has a current ratio of 2.11, a quick ratio of 1.86 and a debt-to-equity ratio of 109.07.

In other news, insider Dan Alexandru Solomon sold 342,000 shares of the business’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of C$22.32, for a total transaction of C$7,633,440.00. Also, Director Carey Thomas Ford bought 15,120 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The shares were acquired at an average price of C$2.45 per share, with a total value of C$37,114.64. Following the completion of the transaction, the director now directly owns 147,240 shares of the company’s stock, valued at C$361,425.91.

COPYRIGHT VIOLATION NOTICE: This piece was first reported by Week Herald and is the sole property of of Week Herald. If you are accessing this piece on another domain, it was stolen and reposted in violation of United States and international copyright and trademark law. The original version of this piece can be viewed at https://weekherald.com/2019/06/12/precision-drilling-tsepd-reaches-new-1-year-low-at-2-24.html.

Precision Drilling Company Profile (TSE:PD)

Precision Drilling Corporation, an oilfield services company, provides oil and natural gas drilling and related services and products. The company operates in two segments, Contract Drilling Services, and Completion and Production Services. The Contract Drilling Services segment offers onshore well drilling services to exploration and production companies in the oil and natural gas industry.

Read More: Convertible Shares

Receive News & Ratings for Precision Drilling Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Precision Drilling and related companies with MarketBeat.com's FREE daily email newsletter.