Precision Drilling (TSE:PD) Share Price Crosses Below 200-Day Moving Average – What’s Next?

Shares of Precision Drilling Co. (TSE:PD) (NYSE:PDS) crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$84.88 and traded as low as C$63.23. Precision Drilling shares last traded at C$63.59, with a volume of 98,400 shares changing hands.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on PD shares. CIBC lowered their price objective on shares of Precision Drilling from C$125.00 to C$115.00 in a research report on Friday, February 14th. Raymond James lowered their price target on Precision Drilling from C$146.00 to C$141.00 in a report on Friday, February 14th. Royal Bank of Canada reduced their price objective on Precision Drilling from C$121.00 to C$110.00 in a research note on Friday, February 14th. TD Securities reduced their target price on shares of Precision Drilling from C$100.00 to C$89.00 and set a “hold” rating for the company in a research note on Friday, February 14th. Finally, ATB Capital lifted their price objective on Precision Drilling from C$109.00 to C$123.00 in a report on Tuesday, December 10th. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of C$119.00.

Precision Drilling Stock Performance

The stock’s 50-day moving average price is C$79.20 and its 200-day moving average price is C$84.69. The company has a market capitalization of C$926.09 million, a price-to-earnings ratio of 3.83, a P/E/G ratio of -3.24 and a beta of 2.76. The company has a debt-to-equity ratio of 51.98, a quick ratio of 1.36 and a current ratio of 1.54.

Insider Buying and Selling

In related news, Senior Officer Veronica H. Foley sold 3,393 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of C$77.66, for a total transaction of C$263,499.70. Also, Director Carey Thomas Ford sold 5,108 shares of the business’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of C$77.66, for a total transaction of C$396,686.26. 2.12% of the stock is currently owned by insiders.

Precision Drilling Company Profile

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.