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Precision Drilling Corporation (PD.TO)

Toronto - Toronto Real Time Price. Currency in CAD
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41.66-0.09 (-0.22%)
At close: 4:00PM EDT
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  • R
    Robin
    I am surprised PD is not back to its 52-week high. Their outlook could not be more Bullish. Their Cdn rig count is well above the same time in 2019. And they are moving a Super Triple (their most expensive rig) from Colorado to Canada on a multi-year contract - effectively Super Triples in Canada are sold out - and PD noted they got real price increases. U.S. business also picking-up. And idle rigs in Kuwait/Saudi Arabia seem almost certain to bring some back soon given OPEC is ramping up production. Nutty PDS is not already back above $40.
  • J
    JKR
    Up 23% after hours BUT I cant find any specific news or PRs! Anyone else?
  • K
    Karen
    In the Globe and Mail today!
    Citigroup analyst J.B. Lowe raised his price target on Precision Drilling Corp. (PD-T) to C$55 from C$36 while reiterating a “neutral/high risk” rating.

    The change in his price target reflected an increase to his 2021 and 2022 EBITA forecasts because of expectations of better margins during the recovery.

    The move was part of an overall review of the North America oil services sector, in which it articulated a preference for exploration and production stocks in the energy sector over oil service stocks.

    Oil Service stock performance has been solid so far this year, with the Oil Services Vaneck ETF up 33%, but that has lagged XOP, the S&P Oil & Gas Exploration & Production ETF, which is up 54%). “This primarily reflects a belief (and underlies our E&P over OFS preference) that oil price inflation will benefit E&P shareholders more than OFS revenues,” Citigroup analysts said.

    “The key question now is, will this continue? We believe so as the 2022 free cash flow yield gap between large cap E&P and OFS of about 500 basis points still seems too large. Moreover, given underlying cost inflation, we don’t foresee OFS delivering sufficient positive revisions during 2H to alter this view.”
  • d
    d
    CIBC just downgrades to Neutral from Outperform. But raises target to C$60 from $50.
    That makes no sense to me but I’ll take the $60.
  • S
    SmartAmerican
    Did this stock really go up from $0.55 to $41? How is this even possible? What changed about the company?
  • a
    atil
    Opec countries needs oil $80 minimum , Russia and Saudis almost bankrupt. USA pushed production last 10 years and the oil companies bankrupt as well. there is no room anymore. demand of oil is increasing . material cost to build a ship , rig, pipe , labor cost almost tripled. For them to make money oil needs to be $100. a commodity being sold in 1920 for $20 ,today $70 super cheap. Last 10 years the oil has been manipulated for Russia. US lost 300 Billion dollars and Russia probably 500 Billion. But cheap oil probably helped USA a few Trillion dollars.Russia was the loser of this game.

    The lack of investments to oil will push the oil over $100 in 2022 and 2023. PDS should be over $200.
  • W
    White Chocolate
    Back to 1$ in no time lol
  • S
    Shitler
    Remember when this was .60 cents 😂, that split happened and then upward momentum for no particular reason. Congrats to all who rode the wave.
  • B
    BDK
    Precision Drilling Corporation Announces Closing of Offering of US$400,000,000 of 6.875% Senior Notes Due 2029 and Redemption of 7.75% Senior Notes Due 2023 and 5.25% Senior Notes Due 2024
    1) This gives us up to 2029 to pay
    2) This gives us time to use the profits of higher oil prices to pay off early.
    To me this is a Win-Win
  • C
    C
    does this company drill for oil or is it water
  • B
    BDK
    What are they thinking? TD Securities cut to HOLD, Raymond James Cut from Strong Buy. Don't they realize Oil is now above $71. Go back and check the history.... A lot of these analysts were saying sell when the stock was at $5 (split adjusted) I have not sold 1 share and keep buying more.
  • T
    Tom W
    Seems like this is a great time to pay off higher debt by taking on lower interest debt. This 400 million dollar announcement makes sense to me.
  • T
    Tina
    It's having a rough day today. I hope it bounces back fast.
  • B
    BDK
    PDS has 13 Million shares. The stock popped over 5% with only 50 thousand shares traded. For every share bought one share is sold so when you see 100k volume only 50 k were bought. The party is just getting started. If only 1% of the outstanding share traded that would equal a volume of 260,000 total trade. This stock was at $60 with oil at $60. Today oil is at $73.... You do the math!
  • B
    BDK
    Friday we hit a 52 week high, 31.93, so should you sell? NOOOOOOO!
    Look at the Ameritrade or Etrade Chart, (Yahoo hasn't adjusted for the consolidated 20/1 split)
    EVEN with a move from $5.44 to $31.93 this stock is just getting started.
    4/20/20 WTI was trading for -$40/barrel PDS was still in business.
    5/28/21 WTI is trading at +$66.78/barrel.
    PDS was at $3 ($60) when oil was less than $66.
    Sit back and enjoy the ride.....
  • T
    Tina
    Should I buy this or am I late to the party?
  • M
    Marc
    what a great month for pds

    anybody have a idea what it will close the year at?
  • s
    stocktargetadvisor
    $PD.CA
    Target Raymond James Financial Strong Buy CAD 47
  • h
    hernanpl
    I sold out after the reverse split last year. Just checking in and it looks like I should have stuck with it. PDS a rare r/split survivor. 👍
  • a
    atil
    will be $60 soon, should never been below $60 anyway. No crude available next 30 years.