Precision Drilling (TSE:PD) Share Price Passes Below 200-Day Moving Average – Should You Sell?

Precision Drilling Co. (TSE:PD) (NYSE:PDS) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$83.65 and traded as low as C$66.75. Precision Drilling shares last traded at C$67.28, with a volume of 137,022 shares trading hands.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Raymond James lowered their price objective on shares of Precision Drilling from C$146.00 to C$141.00 in a report on Friday, February 14th. TD Securities lowered their target price 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. CIBC reduced their price target on Precision Drilling from C$125.00 to C$115.00 in a research note on Friday, February 14th. Royal Bank of Canada lowered their price objective on Precision Drilling from C$121.00 to C$110.00 in a research report on Friday, February 14th. Finally, ATB Capital boosted their target price on shares of Precision Drilling from C$109.00 to C$123.00 in a report on Tuesday, December 10th. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of C$119.00.

Precision Drilling Stock Performance

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 business has a 50 day moving average price of C$76.48 and a 200 day moving average price of C$83.65. The stock has a market capitalization of C$957.40 million, a PE ratio of 3.96, a PEG ratio of -3.24 and a beta of 2.76.

Insider Activity at Precision Drilling

In related news, Director Carey Thomas Ford sold 5,108 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of C$77.66, for a total transaction of C$396,686.26. Also, Senior Officer Veronica H. Foley sold 3,393 shares of Precision Drilling 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$263,499.70. 2.12% of the stock is currently owned by insiders.

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.