Precision Drilling (TSE:PD) Given New C$125.00 Price Target at Royal Bank of Canada

Precision Drilling (TSE:PD) (NYSE:PDS) had its target price hoisted by Royal Bank of Canada from C$122.00 to C$125.00 in a research report sent to investors on Thursday morning, BayStreet.CA reports. They currently have an outperform rating on the stock.

PD has been the topic of several other research reports. Raymond James boosted their target price on shares of Precision Drilling from C$136.00 to C$143.00 and gave the stock a strong-buy rating in a report on Thursday. CIBC upped their price target on shares of Precision Drilling from C$130.00 to C$140.00 and gave the company an outperform rating in a research note on Wednesday. Stifel Nicolaus upped their price target on shares of Precision Drilling from C$115.00 to C$125.00 and gave the company a buy rating in a research note on Thursday, April 18th. ATB Capital upped their price target on shares of Precision Drilling from C$120.00 to C$123.00 in a research note on Thursday. Finally, BMO Capital Markets upped their price target on shares of Precision Drilling from C$135.00 to C$140.00 and gave the company an outperform rating in a research note on Wednesday. Eight research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Precision Drilling presently has a consensus rating of Buy and an average price target of C$131.00.

Precision Drilling Price Performance

Shares of PD stock traded down C$5.43 during mid-day trading on Thursday, hitting C$98.40. The company had a trading volume of 17,061 shares, compared to its average volume of 83,459. Precision Drilling has a 52-week low of C$67.46 and a 52-week high of C$109.20. The stock’s 50 day moving average price is C$96.59 and its 200-day moving average price is C$91.70. The company has a debt-to-equity ratio of 62.02, a current ratio of 1.71 and a quick ratio of 1.36. The company has a market capitalization of C$1.42 billion, a P/E ratio of 6.30, a P/E/G ratio of -3.24 and a beta of 2.90.

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.