Precision Drilling Corporation – Consensus Indicates Potential -83.3% Downside

Broker Ratings

Precision Drilling Corporation with ticker code (PDS) now have 13 analysts covering the stock with the consensus suggesting a rating of ‘Buy’. The target price ranges between 5.48 and 3.36 with the average target price sitting at 4.44. Now with the previous closing price of 26.52 this would indicate that there is a downside of -83.3%. The day 50 moving average is 22.98 and the 200 day MA is 12.5. The company has a market cap of $370m. You can visit the company’s website by visiting: http://www.precisiondrilling.com

Precision Drilling Corporation, an oilfield services company, provides oil and natural gas drilling and related services and products. The company operates in two segments, Contract Drilling Services, and Completion and Production Services. The Contract Drilling Services segment offers onshore well drilling services to exploration and production companies in the oil and natural gas industry. This segment provides land drilling, directional drilling, and turnkey drilling services; and procures and distributes oilfield supplies, as well as manufactures and refurbishes drilling and service rig equipment. As of December 31, 2019, this segment operated 226 land drilling rigs, including 109 in Canada; 104 in the United States; 6 in Kuwai; 4 in Saudi Arabia; 2 in the Kurdistan region of Iraq; and 1 in the country of Georgia. The Completion and Production Services segment provides service rigs for well completion, workover, abandonment, maintenance, and re-entry preparation services; wellsite accommodations; and oilfield surface equipment rentals, as well as pressure control services to oil and natural gas exploration and production companies. As of December 31, 2019, this segment operated 123 well completion and workover service rigs, including 114 in Canada; 9 in the United States; approximately 1,700 oilfield rental items, including surface storage, small-flow wastewater treatment, and power generation and solids control equipment; and 132 wellsite accommodation units in Canada. It also had 42 drilling camps in Canada. Precision Drilling Corporation was incorporated in 1951 and is headquartered in Calgary, Canada.

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