Parker Drilling Company (PKD) Reaches New 1-Year Low at $1.08

Parker Drilling Company (NYSE:PKD) shares hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $1.08 and last traded at $1.10, with a volume of 589,410 shares changing hands. The stock had previously closed at $1.15.

PKD has been the topic of a number of research analyst reports. Zacks Investment Research downgraded Parker Drilling from a “buy” rating to a “hold” rating in a report on Thursday, August 31st. Seaport Global Securities reaffirmed a “neutral” rating on shares of Parker Drilling in a report on Friday, August 4th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $2.63.

The firm’s market cap is $130.94 million. The stock’s 50-day moving average price is $1.15 and its 200 day moving average price is $1.35.

Parker Drilling (NYSE:PKD) last posted its quarterly earnings data on Wednesday, August 2nd. The oil and gas company reported ($0.23) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.27) by $0.04. The firm had revenue of $109.60 million during 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 quarter last year, the firm earned ($0.32) EPS. On average, analysts predict that Parker Drilling Company will post ($0.88) EPS for the current year.

Several institutional investors have recently bought and sold shares of PKD. Voya Investment Management LLC boosted its position in shares of 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 worth $108,000 after purchasing an additional 15,655 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in 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 acquiring an additional 67,974 shares during the period. SG Americas Securities LLC acquired a new stake in Parker Drilling during the 1st quarter worth about $126,000. American International Group Inc. lifted its position in Parker Drilling by 7.0% during the 1st quarter. American International Group Inc. now owns 74,392 shares of the oil and gas company’s stock worth $130,000 after acquiring an additional 4,889 shares during the period. Finally, Metropolitan Life Insurance Co. NY lifted its position in Parker Drilling by 14.6% during the 1st quarter. Metropolitan Life Insurance Co. NY now owns 88,430 shares of the oil and gas company’s stock worth $155,000 after acquiring an additional 11,267 shares during the period. 65.50% of the stock is owned by hedge funds and other institutional investors.

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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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