Precision Drilling (TSE:PD) Hits New 1-Year High at $100.58

Shares of Precision Drilling Co. (TSE:PD) (NYSE:PDS) hit a new 52-week high during trading on Wednesday . The company traded as high as C$100.58 and last traded at C$100.45, with a volume of 78092 shares changing hands. The stock had previously closed at C$96.01.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on PD shares. Evercore reduced their price objective on shares of Precision Drilling from C$142.00 to C$139.00 and set an “outperform” rating for the company in a research note on Wednesday, February 7th. Stifel Nicolaus reduced their price objective on shares of Precision Drilling from C$120.00 to C$115.00 and set a “buy” rating for the company in a research note on Wednesday, February 7th. Royal Bank of Canada reduced their price objective on shares of Precision Drilling from C$125.00 to C$122.00 in a research note on Friday, January 12th. ATB Capital cut their target price on shares of Precision Drilling from C$126.00 to C$125.00 and set an “outperform” rating for the company in a research note on Wednesday, February 7th. Finally, Piper Sandler Companies cut their target price on shares of Precision Drilling from C$107.00 to C$100.00 and set an “overweight” rating for the company in a research note on Monday, January 8th. Eight equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of C$123.91.

Precision Drilling Stock Up 7.2 %

The company has a current ratio of 1.40, a quick ratio of 1.36 and a debt-to-equity ratio of 62.97. The firm has a market cap of C$1.49 billion, a PE ratio of 5.23, a P/E/G ratio of -3.24 and a beta of 2.90. The business’s 50-day simple moving average is C$84.90 and its 200 day simple moving average is C$81.06.

Precision Drilling (TSE:PD) (NYSE:PDS) last released its earnings results on Tuesday, February 6th. The company reported C$4.70 earnings per share for the quarter, topping the consensus estimate of C$2.82 by C$1.88. The company had revenue of C$506.87 million for the quarter, compared to the consensus estimate of C$476.00 million. Precision Drilling had a net margin of 14.93% and a return on equity of 20.61%. As a group, equities research analysts expect that Precision Drilling Co. will post 8.7760512 earnings per share for the current year.

Insider Activity

In other news, Director Carey Thomas Ford sold 7,976 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of C$62.23, for a total value of C$496,346.48. In related news, Senior Officer Veronica H. Foley sold 7,878 shares of the stock in a transaction on Monday, February 12th. The shares were sold at an average price of C$62.16, for a total transaction of C$489,696.48. Also, Director Carey Thomas Ford sold 7,976 shares of the company’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of C$62.23, for a total transaction of C$496,346.48. Insiders have sold 21,373 shares of company stock valued at $1,329,227 in the last ninety days. Insiders own 1.32% of the company’s stock.

About Precision Drilling

Precision Drilling Corporation, a drilling company, provides onshore drilling, completion, and production services to exploration and production companies in the oil and natural gas and geothermal industries in North America and the Middle East. The company operates through Contract Drilling Services and Completion and Production Services segments.