Precision Drilling (TSE:PD) Shares Pass Above 200-Day Moving Average – Should You Sell?

Shares of Precision Drilling Co. (TSE:PD) (NYSE:PDS) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$111.81 and traded as high as C$132.39. Precision Drilling shares last traded at C$126.47, with a volume of 74,023 shares changing hands.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. ATB Cormark Capital Markets lifted their target price on Precision Drilling from C$165.00 to C$175.00 and gave the company an “outperform” rating in a report on Friday, May 1st. TD lifted their target price on Precision Drilling from C$127.00 to C$130.00 and gave the company a “hold” rating in a report on Friday, May 1st. Raymond James Financial lifted their target price on Precision Drilling from C$162.00 to C$165.00 and gave the company an “outperform” rating in a report on Friday, May 1st. Royal Bank Of Canada lifted their target price on Precision Drilling from C$140.00 to C$150.00 and gave the company an “outperform” rating in a report on Tuesday, April 14th. Finally, BMO Capital Markets lifted their price target on Precision Drilling from C$160.00 to C$165.00 in a research report on Thursday, April 30th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$152.25.

Precision Drilling Trading Down 5.6%

The stock has a market cap of C$1.64 billion, a P/E ratio of -121.61, a P/E/G ratio of -3.24 and a beta of 0.74. The company has a debt-to-equity ratio of 45.24, a quick ratio of 1.36 and a current ratio of 1.70. The stock has a 50-day moving average price of C$129.76 and a 200-day moving average price of C$111.81.

Precision Drilling (TSE:PD) (NYSE:PDS) last issued its quarterly earnings results on Thursday, April 30th. The company reported C$1.34 earnings per share (EPS) for the quarter. The firm had revenue of C$526.05 million during the quarter. Precision Drilling had a negative return on equity of 0.94% and a negative net margin of 0.82%.

Precision Drilling Company Profile

Precision is a leading provider of safe and environmentally responsible High Performance, High Value services to the energy industry, offering customers access to an extensive fleet of Super Series drilling rigs. Precision has commercialized an industry-leading digital technology portfolio known as Alpha¿ that utilizes advanced automation software and analytics to generate efficient, predictable, and repeatable results for energy customers. Our drilling services are enhanced by our EverGreen¿ suite of environmental solutions, which bolsters our commitment to reducing the environmental impact of our operations.