Precision Drilling (TSE:PD) Hits New 1-Year Low After Insider Selling

Precision Drilling Co. (TSE:PD) (NYSE:PDS) shares hit a new 52-week low during trading on Friday after an insider sold shares in the company. The company traded as low as C$76.20 and last traded at C$76.64, with a volume of 67101 shares. The stock had previously closed at C$77.80.

Specifically, Director Carey Thomas Ford sold 5,108 shares of the company’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of C$77.66, for a total value of C$396,686.26. Also, Senior Officer Veronica H. Foley sold 3,393 shares of the company’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of C$77.66, for a total transaction of C$263,499.70.

Wall Street Analyst Weigh In

Several brokerages have commented on PD. TD Securities lowered their price objective on shares of Precision Drilling from C$100.00 to C$89.00 and set a “hold” rating on the stock in a research report on Friday, February 14th. CIBC decreased their price target on shares of Precision Drilling from C$125.00 to C$115.00 in a research note on Friday, February 14th. Raymond James dropped their price objective on Precision Drilling from C$146.00 to C$141.00 in a research note on Friday, February 14th. Royal Bank of Canada decreased their target price on Precision Drilling from C$121.00 to C$110.00 in a research report on Friday, February 14th. Finally, ATB Capital upped their price target on Precision Drilling from C$109.00 to C$123.00 in a research report on Tuesday, December 10th. One investment 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, Precision Drilling has a consensus rating of “Buy” and an average target price of C$119.00.

Precision Drilling Price Performance

The firm has a fifty day moving average of C$86.24 and a 200 day moving average of C$88.50. The company has a current ratio of 1.54, a quick ratio of 1.36 and a debt-to-equity ratio of 51.98. The company has a market capitalization of C$1.09 billion, a P/E ratio of 4.52, a P/E/G ratio of -3.24 and a beta of 2.76.

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.