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

Precision Drilling (TSE:PD) (NYSE:PDS) had its price target decreased by CIBC from C$4.75 to C$4.50 in a research note issued to investors on Thursday morning, BayStreet.CA reports.

Other analysts have also recently issued research reports about the stock. BMO Capital Markets set a $32.00 target price on shares of Axalta Coating Systems and gave the stock a hold rating in a research note on Friday, April 26th. National Bank Financial restated an outperform spec overweight rating on shares of Integra Resources in a research note on Thursday, April 25th. Canaccord Genuity restated a buy rating and issued a $7.50 target price on shares of in a research note on Tuesday, July 9th. Evercore raised their target price on shares of Precision Drilling from C$4.00 to C$5.00 in a research note on Friday, April 26th. Finally, Evercore ISI raised their target price on shares of Precision Drilling from C$4.00 to C$5.00 in a research note on Friday, April 26th. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of Buy and an average price target of C$4.98.

PD stock opened at C$2.22 on Thursday. Precision Drilling has a one year low of C$2.12 and a one year high of C$5.33. The firm has a market cap of $652.20 million and a PE ratio of -2.59. The company has a debt-to-equity ratio of 109.07, a current ratio of 2.11 and a quick ratio of 1.86. The stock has a fifty day moving average price of C$2.39.

In related news, Director Kevin A. Neveu acquired 30,000 shares of Precision Drilling stock in a transaction that occurred on Thursday, May 30th. The stock was 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 purchase, the director now directly owns 1,009,024 shares of the company’s stock, valued at C$2,464,036.61. Also, Director Carey Thomas Ford acquired 15,120 shares of Precision Drilling stock in a transaction that occurred on Tuesday, May 28th. The stock was bought at an average price of C$2.45 per share, with a total value of C$37,114.64. Following the purchase, the director now directly 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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