CIBC Cuts Precision Drilling (TSE:PD) Price Target to C$4.50

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Precision Drilling (TSE:PD) (NYSE:PDS) had its price target reduced by CIBC from C$4.75 to C$4.50 in a research report released on Thursday, BayStreet.CA reports.

Several other analysts also recently weighed in on the company. Canaccord Genuity restated a buy rating and issued a $7.50 price objective on shares of in a report on Tuesday, July 9th. Evercore lifted their price objective on Precision Drilling from C$4.00 to C$5.00 in a report on Friday, April 26th. BMO Capital Markets set a $32.00 price objective on Axalta Coating Systems and gave the company a hold rating in a report on Friday, April 26th. National Bank Financial restated an outperform spec overweight rating on shares of Integra Resources in a report on Thursday, April 25th. Finally, Citigroup set a $86.00 price objective on Prologis and gave the company a buy rating in a report on Thursday, June 6th. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus target price of C$4.98.

TSE:PD opened at C$2.22 on Thursday. Precision Drilling has a twelve month low of C$2.12 and a twelve month high of C$5.33. The company has a market capitalization of $652.20 million and a P/E ratio of -2.59. The stock’s fifty day simple moving average is C$2.39. The company has a debt-to-equity ratio of 109.07, a quick ratio of 1.86 and a current ratio of 2.11.

In other news, Director Kevin A. Neveu bought 30,000 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The shares were purchased at an average price of C$2.44 per share, for a total transaction of C$73,260.00. Following the completion of the transaction, the director now directly owns 1,009,024 shares in the company, valued at C$2,464,036.61. Also, Director Carey Thomas Ford bought 15,120 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The stock was purchased at an average price of C$2.45 per share, for a total transaction of C$37,114.64. Following the transaction, the director now owns 147,240 shares of the company’s stock, valued at C$361,425.91.

Precision Drilling Company Profile

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.

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Analyst Recommendations for Precision Drilling (TSE:PD)

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