Shares of Precision Drilling Corp (TSE:PD) (NYSE:PDS) hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as C$2.73 and last traded at C$2.80, with a volume of 1090679 shares traded. The stock had previously closed at C$2.85.
A number of analysts recently weighed in on the stock. Cormark restated a “buy” rating and set a C$6.75 target price on shares of Precision Drilling in a research note on Friday, November 16th. Canaccord Genuity upgraded shares of Precision Drilling from a “hold” rating to a “buy” rating in a research note on Friday, November 9th. Citigroup upgraded shares of Precision Drilling from a “neutral” rating to a “buy” rating and upped their target price for the stock from C$3.50 to C$5.00 in a research note on Monday, November 19th. TD Securities lowered shares of Precision Drilling from an “action list buy” rating to a “buy” rating and upped their target price for the stock from C$7.00 to C$7.50 in a research note on Wednesday, September 5th. Finally, Raymond James cut their target price on shares of Precision Drilling from C$5.75 to C$5.60 and set an “outperform” rating on the stock in a research note on Tuesday, October 30th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of C$5.83.
The company has a quick ratio of 1.73, a current ratio of 1.85 and a debt-to-equity ratio of 98.19.
In related news, Director Wane Jacob Stickland purchased 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 31st. The stock was purchased at an average cost of C$3.17 per share, with a total value of C$31,700.00. Over the last ninety days, insiders have purchased 32,000 shares of company stock valued at $88,100.
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About Precision Drilling (TSE:PD)
Precision Drilling Corporation 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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