Lacklustre Performance Is Driving Precision Drilling Corporation's (TSE:PD) Low P/E
Dec 07
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Canadian (TSX) Oil and Gas Drilling Industry Analysis
UpdatedDec 21, 2024
DataAggregated Company Financials
Companies8
- 7D-4.9%
- 3M-5.1%
- 1Y13.8%
- YTDn/a
Over the last 7 days, the Oil and Gas Drilling industry has dropped 6.2%, driven by a pullback from Precision Drilling of 5.4%. In the past year, the industry has gained 14%. As for the next few years, earnings are expected to grow by 15% per annum.
Industry Valuation and Performance
Has the Canadian Oil and Gas Drilling Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Sat, 21 Dec 2024 | CA$2.5b | CA$5.3b | CA$395.4m | 5.2x | 6.2x | 0.5x |
| Mon, 18 Nov 2024 | CA$2.6b | CA$5.3b | CA$395.4m | 5.7x | 6.7x | 0.5x |
| Wed, 16 Oct 2024 | CA$2.6b | CA$5.3b | CA$364.3m | 7.3x | 7.1x | 0.5x |
| Fri, 13 Sep 2024 | CA$2.5b | CA$5.3b | CA$364.3m | 6.8x | 6.9x | 0.5x |
| Sun, 11 Aug 2024 | CA$2.6b | CA$5.3b | CA$361.5m | 7.9x | 7.3x | 0.5x |
| Tue, 09 Jul 2024 | CA$2.6b | CA$5.4b | CA$394.0m | 5.2x | 6.6x | 0.5x |
| Thu, 06 Jun 2024 | CA$2.6b | CA$5.4b | CA$394.0m | 5.2x | 6.5x | 0.5x |
| Sat, 04 May 2024 | CA$2.7b | CA$5.4b | CA$399.4m | 5.4x | 6.7x | 0.5x |
| Mon, 01 Apr 2024 | CA$2.6b | CA$5.5b | CA$461.4m | 4.6x | 5.7x | 0.5x |
| Wed, 28 Feb 2024 | CA$2.4b | CA$5.5b | CA$446.4m | 4.8x | 5.4x | 0.4x |
| Fri, 26 Jan 2024 | CA$2.5b | CA$5.5b | CA$303.2m | 6.7x | 8.1x | 0.4x |
| Sun, 24 Dec 2023 | CA$2.2b | CA$5.5b | CA$303.2m | 5.8x | 7.3x | 0.4x |
| Tue, 21 Nov 2023 | CA$2.4b | CA$5.5b | CA$303.2m | 6.6x | 8x | 0.4x |
| Thu, 19 Oct 2023 | CA$2.6b | CA$5.4b | CA$328.9m | 6.9x | 7.8x | 0.5x |
| Sat, 16 Sep 2023 | CA$2.8b | CA$5.4b | CA$328.9m | 7.2x | 8.6x | 0.5x |
| Mon, 14 Aug 2023 | CA$2.6b | CA$5.4b | CA$328.9m | 6.8x | 7.9x | 0.5x |
| Wed, 12 Jul 2023 | CA$2.0b | CA$5.1b | CA$260.7m | 5.4x | 7.8x | 0.4x |
| Fri, 09 Jun 2023 | CA$1.9b | CA$5.1b | CA$260.7m | 5.1x | 7.2x | 0.4x |
| Sun, 07 May 2023 | CA$2.1b | CA$4.8b | CA$238.4m | 7.8x | 8.8x | 0.4x |
| Tue, 04 Apr 2023 | CA$2.4b | CA$4.4b | CA$66.6m | 11.3x | 36.1x | 0.5x |
| Thu, 02 Mar 2023 | CA$2.6b | CA$4.1b | -CA$2,796,265.00 | 12.6x | -944.3x | 0.6x |
| Sat, 28 Jan 2023 | CA$3.2b | CA$3.9b | -CA$36,446,265.00 | 13.2x | -86.6x | 0.8x |
| Mon, 26 Dec 2022 | CA$3.0b | CA$3.9b | -CA$36,446,265.00 | 12.9x | -81.3x | 0.8x |
| Wed, 23 Nov 2022 | CA$3.1b | CA$3.9b | -CA$36,446,265.00 | 13.4x | -85.7x | 0.8x |
| Fri, 21 Oct 2022 | CA$2.4b | CA$3.4b | -CA$197,568,171.00 | 15.2x | -12.3x | 0.7x |
| Sun, 18 Sep 2022 | CA$2.3b | CA$3.4b | -CA$197,568,171.00 | 13.5x | -11.5x | 0.7x |
| Tue, 16 Aug 2022 | CA$2.5b | CA$3.3b | -CA$200,590,171.00 | 14x | -12.3x | 0.7x |
| Thu, 14 Jul 2022 | CA$2.0b | CA$3.0b | -CA$332,821,330.00 | 16.2x | -6x | 0.7x |
| Sat, 11 Jun 2022 | CA$3.0b | CA$3.0b | -CA$332,821,330.00 | 22.7x | -9.1x | 1x |
| Mon, 09 May 2022 | CA$2.5b | CA$2.9b | -CA$387,201,330.00 | 22.3x | -6.4x | 0.9x |
| Wed, 06 Apr 2022 | CA$2.5b | CA$2.7b | -CA$373,582,365.00 | 14.6x | -6.7x | 0.9x |
| Fri, 04 Mar 2022 | CA$2.0b | CA$2.5b | -CA$361,244,365.00 | 30.1x | -5.4x | 0.8x |
| Sun, 30 Jan 2022 | CA$1.5b | CA$2.4b | -CA$378,089,606.00 | 26.7x | -3.9x | 0.6x |
| Tue, 28 Dec 2021 | CA$1.2b | CA$2.4b | -CA$378,089,606.00 | 21.2x | -3.2x | 0.5x |
Price to Earnings Ratio
-3.2x
Current Industry PE
- Investors are pessimistic on the Canadian Oil and Gas Drilling industry, indicating that they anticipate long term growth rates will be lower than they have historically.
- The industry is trading at a PE ratio of 6.4x which is higher than its 3-year average PE of -12.3x.
- The industry is trading close to its 3-year average PS ratio of 0.59x.
Past Earnings Growth
- Total earnings for the Oil and Gas Drilling industry have gone up over the last three years, and the industry is now profitable. Revenues have grown 31% per year.
- This means that more sales are being generated by the industry overall, and subsequently profits are increasing too.
Industry Comparison
How does Canadian Oil and Gas Drilling compare with similar industries?
| CA Market | -2.58% | |
| Energy | -3.53% | |
| Energy Services | -2.76% | |
| Oil and Gas Drilling | -4.89% | |
| Oil and Gas Services | -2.28% | |
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| WRG Western Energy Services | CA$2.55 | 2.0% +CA$1.7m | -9.6% | PS0.4x | |
| AKT.A AKITA Drilling | CA$1.65 | 1.2% +CA$794.7k | 16.2% | PE31.4x |