Precision Drilling (TSE:PD) Given Outperform Rating at AltaCorp Capital

AltaCorp Capital reissued their outperform rating on shares of Precision Drilling (TSE:PD) (NYSE:PDS) in a report released on Thursday, June 20th, Zacks.com reports.

A number of other brokerages also recently issued reports on PD. Citigroup set a $86.00 price objective on shares of Prologis and gave the stock a buy rating in a research report on Thursday, June 6th. National Bank Financial reaffirmed an outperform spec overweight rating on shares of Integra Resources in a research report on Thursday, April 25th. BMO Capital Markets set a $32.00 price objective on shares of Axalta Coating Systems and gave the stock a hold rating in a research report on Friday, April 26th. Evercore ISI lifted their price objective on shares of Precision Drilling from C$4.00 to C$5.00 in a research report on Friday, April 26th. Finally, Evercore boosted their target price on shares of Precision Drilling from C$4.00 to C$5.00 in a research report on Friday, April 26th. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of Buy and a consensus target price of C$5.00.

PD traded down C$0.04 on Thursday, reaching C$2.38. 292,500 shares of the company traded hands, compared to its average volume of 1,405,651. Precision Drilling has a one year low of C$2.20 and a one year high of C$5.33. The firm has a fifty day moving average price of C$2.43. The firm has a market capitalization of $719.77 million and a P/E ratio of -2.77. The company has a current ratio of 2.11, a quick ratio of 1.86 and a debt-to-equity ratio of 109.07.

In related news, insider Dan Alexandru Solomon sold 342,000 shares of the company’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of C$22.32, for a total value of C$7,633,440.00. Also, Director Kevin A. Neveu acquired 30,000 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The stock was purchased at an average cost of C$2.44 per share, with a total value of C$73,260.00. Following the acquisition, the director now directly owns 1,009,024 shares of the company’s stock, valued at approximately C$2,464,036.61.

About Precision Drilling

Precision Drilling Corporation, an oilfield services company, 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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Analyst Recommendations for Precision Drilling (TSE:PD)

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