Precision Drilling (PD.TO) Buy, Sell or Hold

Precision Drilling (PD.TO)

119.16

+1.13 (0.96%)

as of Jun 19, 2026, 8:00:00 pm Market Open.

117 watching

DON'T BUY

15% yield. North American drillers are trading very cheap on all metrics. Really likes the new management. Has older equipment and newer companies will be more in demand.

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COMMENT

Quality trust. Largest drilling and service trust in Canada. Making a big acquisition of Grey Wolf (GW-A). Previously a pristine balance sheet but will now have debt levels. Seeing drilling coming off in the US. Would be cautious.

BUY

Good time to be buying oil drilling and oil services companies. Strong demand for their services.

COMMENT

It seems they are able to keep the distribution currently. Thinks winter drilling will be fine.

WAIT

Tentative hold. Wait if buying.

COMMENT

Largest oil service firm in Western Canada. Will depend on commodity prices. If you have a positive view on oil and natural gas you should continue to hold. The numbers he sees for drilling this winter don't look as good.

WAIT

One of the largest contract drillers in Canada. Recently acquired Grey Wolf (GW-A) in the US. Expects there could be tax loss selling in November when shareholders from Grey Wolf could be selling shares. Well run trust, but wait until December.

COMMENT

Wanted to build up their presence in the US and bought Grey Wolf. If the price of oil recovers in 2008/2009 winter there could be mid-teens natural gas next year.

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BUY

Canadian Natural Rsrcs (CNQ-T) would probably be his Top Pick in the oil sector on the Canadian side but he also has positions in Encana (ECA-T), Suncor (SU-T) as well as Precision Drilling (PD-T).

BUY

Largest driller in Western Canada. Because of higher energy prices, drilling activity has been significantly higher in the last year. They are also expected to look for acquisitions in the US. (See Top Picks.)

HOLD

Has been disappointing. Last year, gas prices went down so drilling slowed. This spring started off slowly and earnings started picking up. Will do well with their bigger rigs on the deep drilling.

BUY

Calfrac Well Services (CFW-T), Precision Drilling (PD.UN-T), Ensign Resource (ESI-T). Involved in fracturing, an expensive exploration/production service, which basically fractures rocks to release petrochemicals. With higher natural gas, companies are starting to use this service. Bullish on natural gas. These companies can be very cyclical and will fall off the table when energy prices weaken.

DON'T BUY

3 to 5 years this is a great story. Near term there are some issues. Pricing a great deal of success into the organic growth initiatives they are having in the US and internationally. 6% yield. A little bit ahead of itself.

PARTIAL SELL

One of the largest oil/gas drilling and service companies in Canada. Recently had plans to expand into the US. Q1 results were OK but some people were expecting higher data rates for some of their rigs. There is usually a seasonal weakness that we are approaching and you might consider taking some profit.

DON'T BUY

This is still in the trust structure and he does not allow trusts. His model price is $41, which would be a 58% positive differential but with all these companies they do have to convert, eventually, back to the corporate structure. There will be a 30% haircut somewhere.

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