Precision Drilling downgraded to Hold from Buy at Jefferies Jefferies downgraded Precision Drilling citing a more cautious outlook for the Canadian drilling market. The firm lowered its price target for shares to $8.50 from $10.
Precision Drilling says expects number of rigs to rise through 2015 Says recent oil price slide is "concerning," but doesn't expect a reduction in drilling near term. Says winter drilling season should be strong. Says will deliver around 3 rigs per month over next several quarters. Says "could not be more pleased" with current strategy. Comments from company's Q3 earnings conference call.
Precision Drilling raises Q4 dividend by 17% to 7c per share The board of Precision Drilling has declared a dividend on its common shares of 7c per common share, a 17% increase over the prior quarter. The dividend is payable on November 24, to shareholders of record on November 14.