Parker Drilling Company (NYSE:PKD) has been given an average recommendation of “Buy” by the eight ratings firms that are currently covering the firm. One analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $2.95.
Several research analysts have issued reports on PKD shares. Tudor Pickering started coverage on shares of Parker Drilling Company in a report on Thursday, March 23rd. They set a “hold” rating for the company. Zacks Investment Research upgraded shares of Parker Drilling Company from a “hold” rating to a “buy” rating and set a $2.25 price target for the company in a report on Tuesday, February 28th.
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Shares of Parker Drilling Company (NYSE:PKD) traded down 3.03% during midday trading on Monday, hitting $1.60. 538,221 shares of the company’s stock traded hands. The company has a 50 day moving average price of $1.66 and a 200 day moving average price of $2.18. Parker Drilling Company has a 1-year low of $1.35 and a 1-year high of $3.16. The firm’s market capitalization is $199.73 million.
In related news, Director Peter Thomas Fontana acquired 160,000 shares of the stock in a transaction dated Friday, February 24th. The stock was bought at an average price of $1.90 per share, for a total transaction of $304,000.00. Following the purchase, the director now directly owns 168,021 shares of the company’s stock, valued at approximately $319,239.90. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 3.68% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in PKD. Towle & Co. increased its position in shares of Parker Drilling Company by 13.8% in the third quarter. Towle & Co. now owns 8,351,019 shares of the oil and gas company’s stock valued at $18,122,000 after buying an additional 1,010,650 shares during the period. FMR LLC increased its position in shares of Parker Drilling Company by 1,347.3% in the fourth quarter. FMR LLC now owns 3,132,110 shares of the oil and gas company’s stock valued at $8,143,000 after buying an additional 2,915,700 shares during the period. JPMorgan Chase & Co. increased its position in shares of Parker Drilling Company by 8.3% in the third quarter. JPMorgan Chase & Co. now owns 2,379,683 shares of the oil and gas company’s stock valued at $5,164,000 after buying an additional 182,181 shares during the period. State Street Corp increased its position in shares of Parker Drilling Company by 3.2% in the fourth quarter. State Street Corp now owns 2,328,686 shares of the oil and gas company’s stock valued at $6,056,000 after buying an additional 72,428 shares during the period. Finally, Wilsey Asset Management Inc. increased its position in shares of Parker Drilling Company by 8.0% in the first quarter. Wilsey Asset Management Inc. now owns 2,311,161 shares of the oil and gas company’s stock valued at $3,998,000 after buying an additional 170,480 shares during the period. Institutional investors own 64.07% of the company’s stock.
Parker Drilling Company 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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