Shares of Parker Drilling Company (NYSE:PKD) have earned a consensus recommendation of “Hold” from the six research firms that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and three have given a buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $2.63.
A number of analysts have recently weighed in on the company. Zacks Investment Research upgraded Parker Drilling from a “hold” rating to a “buy” rating and set a $1.25 price target on the stock in a research report on Friday, September 1st. Seaport Global Securities reiterated a “neutral” rating on shares of Parker Drilling in a research report on Friday, August 4th.
Shares of Parker Drilling (NYSE:PKD) traded down 8.70% on Friday, hitting $1.05. The company’s stock had a trading volume of 1,073,029 shares. The company has a 50 day moving average of $1.16 and a 200 day moving average of $1.36. The firm’s market cap is $144.72 million. Parker Drilling has a 1-year low of $1.05 and a 1-year high of $2.90.
Parker Drilling (NYSE:PKD) last announced its quarterly earnings results on Wednesday, August 2nd. The oil and gas company reported ($0.23) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.04. The business had revenue of $109.60 million for the quarter, compared to analysts’ expectations of $112.25 million. Parker Drilling had a negative return on equity of 43.64% and a negative net margin of 41.31%. The business’s quarterly revenue was up 4.1% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.32) EPS. Equities analysts forecast that Parker Drilling will post ($0.88) EPS for the current year.
Institutional investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC raised its position in shares of Parker Drilling by 16,993.5% during the 1st quarter. Tower Research Capital LLC TRC now owns 68,374 shares of the oil and gas company’s stock worth $119,000 after purchasing an additional 67,974 shares during the period. SG Americas Securities LLC acquired a new stake in Parker Drilling in the 1st quarter valued at approximately $126,000. American International Group Inc. increased its position in Parker Drilling by 7.0% in the 1st quarter. American International Group Inc. now owns 74,392 shares of the oil and gas company’s stock valued at $130,000 after acquiring an additional 4,889 shares during the period. Voya Investment Management LLC increased its position in Parker Drilling by 24.5% in the 2nd quarter. Voya Investment Management LLC now owns 79,644 shares of the oil and gas company’s stock valued at $108,000 after acquiring an additional 15,655 shares during the period. Finally, Metropolitan Life Insurance Co. NY increased its position in Parker Drilling by 14.6% in the 1st quarter. Metropolitan Life Insurance Co. NY now owns 88,430 shares of the oil and gas company’s stock valued at $155,000 after acquiring an additional 11,267 shares during the period. Institutional investors and hedge funds own 65.50% of the company’s stock.
About Parker Drilling
Parker Drilling Company (Parker Drilling) is a provider of contract drilling, and drilling-related services and rental tools and services. The Company’s business consists of two business lines: drilling services and rental tools services. Its Rental Tools Services business includes U.S. Rental Tools and International Rental Tools segments, and its Drilling Services business includes its U.S.
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