Precision Drilling Co. (TSE:PD) Price Target Lowered to C$4.25 at Canaccord Genuity

Precision Drilling Co. (TSE:PD) (NYSE:PDS) had its target price cut by equities research analysts at Canaccord Genuity from C$4.75 to C$4.25 in a report released on Wednesday, August 2nd. Canaccord Genuity’s price target would indicate a potential upside of 13.33% from the stock’s previous close.

A number of other research analysts have also recently weighed in on PD. BMO Capital Markets cut their price objective on shares of Precision Drilling from C$9.00 to C$6.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 1st. Raymond James Financial, Inc. reissued a “market perform” rating and set a C$7.40 target price on shares of Precision Drilling in a research note on Tuesday, April 25th. Scotiabank reissued a “sector perform” rating and set a C$8.00 target price on shares of Precision Drilling in a research note on Tuesday, April 25th. Finally, CIBC upped their price objective on shares of Precision Drilling from C$8.00 to C$11.00 in a research note on Thursday, July 20th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of C$8.18.

Precision Drilling (TSE PD) remained flat at $3.75 during mid-day trading on Wednesday. 2,726,963 shares of the company’s stock traded hands. The company’s market capitalization is $1.10 billion. Precision Drilling has a 12 month low of $3.57 and a 12 month high of $8.21. The stock’s 50-day moving average is $3.95 and its 200-day moving average is $5.47.

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In other Precision Drilling news, Director Brian James Gibson purchased 35,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The shares were bought at an average price of C$3.58 per share, for a total transaction of C$125,300.00.

Precision Drilling Company Profile

Precision Drilling Corporation (Precision) is an oilfield services company. The Company provides onshore drilling and completion and production services to exploration and production companies in the oil and natural gas industry. The Company operates through two segments: Contract Drilling Services, and Completion and Production Services.

Analyst Recommendations for Precision Drilling (TSE:PD)

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