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

COMMENT

The extra $.40 they paid was a surprise. On a cash flow basis they are in good shape. Has dropped because of tax loss selling. Looking pretty good at this point in time.

HOLD

Like all energy services it has corrected good amount. Natural gas has been very soft with inventory levels being full. There’ve been big imports of LNG. This will be a late 2nd half 08 story. Distribution cut was made, so this should now be stable. Yield of 9% plus.

DON'T BUY

Energy sector, including the drillers, has really been clobbered, largely because of low natural gas prices. Declining rates are so high in the patch now that this slowdown will start to impact production.

HOLD

New CEO. After their non-competition ends they will try to expand more into Mexico and other countries. The issue is what type of drilling season will occur in Q1 of 08. A cold winter in eastern Canada could increase natural gas prices. Good balance sheet. If you think gas prices will improve, Hold.

COMMENT

The classic value pick for the contrarian investor. Market does not like the energy services space right now. Over the long term, this will bounce back. If you Buy you will have to hold until 2009, which will be the first time for a significant turnaround in terms of utilization rates.

DON'T BUY

He has a model price of around $25. A positive 10%, 11%.

DON'T BUY

Would not be interested in investing in a drilling company at this time.

DON'T BUY

They don't own, but are watching. Needs the firming of natural gas prices. Also needs the royalty program to be approved, before he would take the risk.

HOLD

Has been hammered because the utilization rate has been down. They also had to decrease their payouts. A very cheap stock from the point of view of the upside capability when there is a recovery in the industry.

HOLD

All the oilfield service trusts have had big corrections because of weak activity levels in western Canadian sedimentary basin. This will probably continue right through 2008. Cut the distribution earlier this year but doesn't see a lot of risk with the current level.

HOLD

As natural gas prices firm going out into 08 and 09, he feels the drillers will come back with a vengeance. Gives you a decent return, so continue holding.

DON'T BUY

Many companies are pulling back drilling expectations for next year. This could make it very difficult.

DON'T BUY

This is a tough one for him. With the distributions coming out, they balance sheet is actually falling on his quantitative model. The model price is around $25, but we'll get hit with taxes in 2 years. Probably trading in line. Doesn't see any big upside

COMMENT

He tends to avoid the service sector except for production related companies rather than exploration companies. Good balance sheet. This one will suffer more in down periods, but will recover more quickly.

COMMENT

Generally doesn't like this one, but it has fallen so far it might be worth looking at.

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