Precision Drilling Corp (PD) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Precision Drilling Corp (TSE:PD) (NYSE:PDS) have received an average recommendation of “Buy” from the eleven ratings firms that are currently covering the company, MarketBeat reports. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is C$5.20.

Several equities analysts have recently weighed in on the company. CIBC raised their target price on Precision Drilling from C$4.25 to C$4.75 in a research report on Tuesday, April 23rd. National Bank Financial lifted their price objective on Precision Drilling from C$4.25 to C$4.50 and gave the stock an “outperform” rating in a research report on Thursday, April 25th. Evercore lifted their price objective on Precision Drilling from C$4.00 to C$5.00 in a research report on Friday, April 26th. Evercore ISI lifted their price objective on Precision Drilling from C$4.00 to C$5.00 in a research report on Friday, April 26th. Finally, BMO Capital Markets lifted their price objective on Precision Drilling from C$4.00 to C$5.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th.

In related news, insider Dan Alexandru Solomon sold 342,000 shares of Precision Drilling stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of C$22.32, for a total transaction of C$7,633,440.00.

Shares of TSE PD traded down C$0.06 during midday trading on Monday, hitting C$2.94. The stock had a trading volume of 158,369 shares, compared to its average volume of 1,529,180. The company has a market cap of $869.60 million and a PE ratio of -3.47. Precision Drilling has a 1 year low of C$2.25 and a 1 year high of C$5.33. The company has a debt-to-equity ratio of 109.07, a current ratio of 2.11 and a quick ratio of 1.86.

About Precision Drilling

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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