Shares of Parker Drilling Company (NYSE:PKD) have received a consensus recommendation of “Hold” from the seven brokerages that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $2.92.
Several equities research analysts have weighed in on the stock. ValuEngine cut shares of Parker Drilling from a “sell” rating to a “strong sell” rating in a research report on Friday, June 2nd. Zacks Investment Research cut shares of Parker Drilling from a “hold” rating to a “sell” rating in a research report on Thursday, June 1st. Finally, Seaport Global Securities reissued a “neutral” rating on shares of Parker Drilling in a research report on Friday, August 4th.
Shares of Parker Drilling (NYSE:PKD) remained flat at $1.15 during trading on Wednesday. The company’s stock had a trading volume of 779,978 shares. The firm’s market capitalization is $158.51 million. The company has a 50 day moving average of $1.18 and a 200-day moving average of $1.42. Parker Drilling has a 12 month low of $1.10 and a 12 month 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, beating the Thomson Reuters’ consensus estimate of ($0.27) by $0.04. The business had revenue of $109.60 million during the quarter, compared to analysts’ expectations of $112.25 million. Parker Drilling had a negative net margin of 41.31% and a negative return on equity of 43.64%. The firm’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.32) EPS. On average, analysts expect that Parker Drilling will post ($0.88) earnings per share for the current fiscal year.
Large investors have recently bought and sold shares of the company. Voya Investment Management LLC lifted 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 during the period. Tower Research Capital LLC TRC lifted its position in shares of Parker Drilling by 16,993.5% in 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 purchased a new stake in shares of Parker Drilling in the 1st quarter worth about $126,000. American International Group Inc. lifted its position in shares of 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 worth $130,000 after purchasing an additional 4,889 shares during the period. Finally, Chicago Partners Investment Group LLC purchased a new stake in shares of Parker Drilling in the 1st quarter worth about $148,000. 65.50% of the stock is owned by hedge funds and other institutional investors.
Parker Drilling Company Profile
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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