Precision Drilling Corp (TSE:PD) Given Consensus Rating of “Buy” by Brokerages

Shares of Precision Drilling Corp (TSE:PD) (NYSE:PDS) have received a consensus rating of “Buy” from the eleven analysts that are presently covering the stock, MarketBeat.com reports. Three 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 analysts that have issued ratings on the stock in the last year is C$5.02.

PD has been the topic of several recent research reports. Evercore ISI raised their price objective on shares of Precision Drilling from C$4.00 to C$5.00 in a research report on Friday, April 26th. Evercore raised their price objective on shares of Precision Drilling from C$4.00 to C$5.00 in a research report on Friday, April 26th. CIBC raised their price objective on shares of Precision Drilling from C$4.25 to C$4.75 in a research report on Tuesday, April 23rd. Canaccord Genuity cut their price objective on shares of Precision Drilling from C$4.50 to C$4.25 in a research report on Wednesday, March 20th. Finally, BMO Capital Markets raised their price objective on shares of Precision Drilling from C$4.00 to C$4.25 in a research report on Friday, February 15th.

Shares of PD stock traded down C$0.10 during trading on Friday, hitting C$2.31. 1,015,220 shares of the company were exchanged, compared to its average volume of 1,448,081. The company has a debt-to-equity ratio of 109.07, a quick ratio of 1.86 and a current ratio of 2.11. The stock has a market cap of $716.83 million and a P/E ratio of -2.72. Precision Drilling has a twelve month low of C$2.25 and a twelve month high of C$5.33.

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

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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