Precision Drilling (TSE:PD) Shares Pass Below Two Hundred Day Moving Average – Time to Sell?

Precision Drilling Co. (TSE:PD) (NYSE:PDS) crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$84.88 and traded as low as C$63.23. Precision Drilling shares last traded at C$63.59, with a volume of 98,400 shares trading hands.

Analysts Set New Price Targets

PD has been the subject of several research reports. CIBC lowered their target price on Precision Drilling from C$125.00 to C$115.00 in a research note on Friday, February 14th. TD Securities decreased their price objective on Precision Drilling from C$100.00 to C$89.00 and set a “hold” rating for the company in a research note on Friday, February 14th. ATB Capital lifted their price objective on Precision Drilling from C$109.00 to C$123.00 in a research note on Tuesday, December 10th. Raymond James decreased their price objective on Precision Drilling from C$146.00 to C$141.00 in a research note on Friday, February 14th. Finally, Royal Bank of Canada decreased their price objective on Precision Drilling from C$121.00 to C$110.00 in a research note on Friday, February 14th. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of C$119.00.

Precision Drilling Trading Down 1.4 %

The company has a debt-to-equity ratio of 51.98, a current ratio of 1.54 and a quick ratio of 1.36. The stock has a market capitalization of C$904.89 million, a price-to-earnings ratio of 3.74, a PEG ratio of -3.24 and a beta of 2.76. The business has a 50 day simple moving average of C$79.73 and a 200-day simple moving average of C$84.88.

Insider Buying and Selling at Precision Drilling

In other news, Director Carey Thomas Ford sold 5,108 shares of the business’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of C$77.66, for a total value of C$396,686.26. Also, Senior Officer Veronica H. Foley sold 3,393 shares of the business’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of C$77.66, for a total value of C$263,499.70. Insiders own 2.12% of the company’s stock.

About Precision Drilling

Precision Drilling Corporation, a drilling company, provides onshore drilling, completion, and production services to exploration and production companies in the oil and natural gas and geothermal industries in North America and the Middle East. The company operates through Contract Drilling Services and Completion and Production Services segments.