Precision Drill Receives a Hold from Canaccord Genuity

By Carrie Williams

In a new note to investors yesterday, an analyst has provided a rating update for the Materials sector company, Precision Drill (TSX: PD). Analyst John Bereznicki from Canaccord Genuity rated Precision Drill (TSX: PD) a Hold, setting a C$6.50 price target.

According to TipRanks.com, Bereznicki is a 5-star analyst with an average return of 15.8% and a 57.6% success rate. Bereznicki covers the Basic Materials sector, focusing on stocks such as Essential Energy Services Ltd, Trinidad Drilling, and Canadian Energy.

Precision Drill has an analyst consensus of Moderate Buy, with a price target consensus of C$8.46.

Precision Drill’s market cap is currently C$1.43B and has a P/E ratio of 0.

Precision Drilling Corp. provides onshore drilling, completion, and production services to exploration and production companies in the oil and natural gas industry. It operates through the Contract Drilling Services and Completion and Production Services segments. The Contract Drilling Services segment includes land drilling services, directional drilling services and turnkey drilling services, procurement and distribution of oilfield supplies. The Completion and Production Services segment includes service rigs, camp services, oilfield surface equipment rental and wellsite accommodations. The company was founded on March 25, 1985 and is headquartered in Calgary, Canada.

The company’s shares closed last Wednesday at $4.56, close to its 52-week low of $4.42.