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

Precision Drilling Co. (TSE:PD) (NYSE:PDS)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-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 traded.

Analysts Set New Price Targets

A number of research firms recently weighed in on PD. ATB Cormark Capital Markets boosted their target price on Precision Drilling from C$165.00 to C$175.00 and gave the stock an “outperform” rating in a research report on Friday, May 1st. TD Securities boosted their target price on Precision Drilling from C$118.00 to C$123.00 in a research report on Thursday, February 12th. Canadian Imperial Bank of Commerce boosted their target price on Precision Drilling from C$150.00 to C$160.00 in a research report on Friday, May 1st. Raymond James Financial boosted their target price on Precision Drilling from C$162.00 to C$165.00 and gave the stock an “outperform” rating in a research report on Friday, May 1st. Finally, Royal Bank Of Canada boosted their target price on Precision Drilling from C$140.00 to C$150.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 14th. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$152.25.

Precision Drilling Stock Down 5.6%

The company has a quick ratio of 1.36, a current ratio of 1.70 and a debt-to-equity ratio of 45.24. The company has a 50-day simple moving average of C$129.76 and a two-hundred day simple moving average of C$111.81. 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.

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

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.