Precision Drilling Co. (PD) Price Target Raised to C$4.25 at Citigroup Inc.

Precision Drilling Co. (TSE:PD) (NYSE:PDS) had its price objective upped by Citigroup Inc. from C$4.00 to C$4.25 in a research report issued on Wednesday. Citigroup Inc.’s price objective suggests a potential upside of 9.82% from the company’s previous close.

A number of other analysts also recently issued reports on the stock. Canaccord Genuity dropped their price target on shares of Precision Drilling from C$6.50 to C$4.75 in a report on Tuesday, July 11th. CIBC raised their price target on shares of Precision Drilling from C$8.00 to C$11.00 in a report on Thursday, July 20th. BMO Capital Markets dropped their price target on shares of Precision Drilling from C$9.00 to C$6.00 and set an “outperform” rating on the stock in a report on Tuesday, August 1st. Raymond James Financial, Inc. dropped their price target on shares of Precision Drilling from C$6.50 to C$5.75 and set a “speculative buy” rating on the stock in a report on Tuesday, August 22nd. Finally, TD Securities reaffirmed a “buy” rating and set a C$6.00 price target on shares of Precision Drilling in a report on Tuesday, September 12th. Four investment 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$6.25.

Precision Drilling (PD) traded up 0.646% on Wednesday, reaching $3.895. 4,021,570 shares of the company traded hands. Precision Drilling has a one year low of $2.89 and a one year high of $8.21. The stock’s 50 day moving average price is $3.46 and its 200 day moving average price is $4.13. The company’s market capitalization is $1.14 billion.

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In other Precision Drilling news, Director Kevin A. Neveu acquired 10,000 shares of the company’s stock in a transaction that occurred on Monday, August 28th. The shares were bought at an average price of C$3.13 per share, with a total value of C$31,300.00.

About Precision Drilling

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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