PD Stock Hits 12-Month Low of $1.12: What This Means for the Industry

PD stock is down more than 5.8% today, to a 12-month low of $1.12.

Precision Drilling Corp. (TSX:PD) (NYSE:PDS), the largest drilling rig contractor in Canada, has seen its stock fall by more than 31.6% in 2019 alone. PD stock has been on the slide since hitting a year high of $2.93 in April, subsequently posting a loss of $0.04 per share in Q2.

As we can see by the declining value of PD stock, the Oil and Gas industry outlook is pretty bleak at the moment. On ...