Precision Drilling (PDS) Gets a Buy Rating from RBC Capital

By Carrie Williams

RBC Capital analyst Keith Mackey maintained a Buy rating on Precision Drilling (PDSResearch Report) on September 8 and set a price target of C$66.00. The company’s shares closed last Thursday at $43.18, close to its 52-week high of $44.52.

According to TipRanks.com, Mackey is a 5-star analyst with an average return of 26.2% and a 70.5% success rate. Mackey covers the Industrial Goods sector, focusing on stocks such as Liberty Oilfield Services, Baker Hughes Company, and Trican Well Service.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Precision Drilling with a $46.83 average price target, representing an 11.3% upside. In a report issued on August 24, Canaccord Genuity also upgraded the stock to Buy with a C$50.00 price target.

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The company has a one-year high of $44.52 and a one-year low of $12.80. Currently, Precision Drilling has an average volume of 56.98K.

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Precision Drilling Corp. provides onshore drilling, completion, and production services to the oil and natural gas industry. It operates through the following segments: Contract Drilling Services; and Completion and Production Services. The Contract Drilling Services segment includes drilling rig, directional drilling, oilfield supply, and manufacturing divisions. The Completion and Production Services segment involves snubbing, rental, camp and catering, and wastewater treatment divisions. The company was founded on March 25, 1985 and is headquartered in Calgary, Canada.