Precision Drilling Co. (PD) Receives Hold Rating from Deutsche Bank AG

Deutsche Bank AG reissued their hold rating on shares of Precision Drilling Co. (TSE:PD) (NYSE:PDS) in a research note issued to investors on Tuesday morning. The brokerage currently has a C$4.00 target price on the stock.

PD has been the topic of a number of other research reports. TD Securities reiterated a buy rating and issued a C$6.00 price target on shares of Precision Drilling in a research report on Tuesday, September 12th. Raymond James Financial, Inc. reduced their price target on Precision Drilling from C$6.50 to C$5.75 and set a speculative buy rating on the stock in a research report on Tuesday, August 22nd. Royal Bank Of Canada reduced their price target on Precision Drilling from C$7.00 to C$6.00 and set an outperform rating on the stock in a research report on Friday, October 6th. BMO Capital Markets reduced their price target on 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. Finally, CIBC upped their price target on Precision Drilling from C$8.00 to C$11.00 in a research report on Thursday, July 20th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of C$6.91.

Precision Drilling (TSE PD) opened at 3.35 on Tuesday. The firm’s market cap is $982.35 million. Precision Drilling has a 1-year low of $3.01 and a 1-year high of $8.21. The firm has a 50-day moving average price of $3.46 and a 200 day moving average price of $4.45.

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In other news, Director Brian James Gibson purchased 35,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The shares were acquired at an average cost of C$3.58 per share, with a total value of C$125,300.00. Also, Director Steven Wayne Krablin purchased 10,000 shares of the company’s stock in a transaction that occurred on Friday, August 18th. The shares were purchased at an average cost of C$2.63 per share, for a total transaction of C$26,300.00. Insiders bought a total of 55,000 shares of company stock worth $182,900 over the last three months.

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.

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