Parker Drilling Company (NYSE:PKD) was upgraded by equities researchers at Macquarie from an “underperform” rating to a “neutral” rating in a research note issued to investors on Tuesday, May 9th, MarketBeat Ratings reports.
Several other research analysts have also recently weighed in on the company. Zacks Investment Research cut Parker Drilling Company from a “buy” rating to a “hold” rating in a research report on Wednesday, April 26th. Tudor Pickering began coverage on Parker Drilling Company in a research report on Thursday, March 23rd. They set a “hold” rating on the stock. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $2.95.
Shares of Parker Drilling Company (PKD) traded down 3.57% during mid-day trading on Tuesday, hitting $1.35. The company had a trading volume of 66,498 shares. Parker Drilling Company has a 52-week low of $1.30 and a 52-week high of $2.90. The firm has a 50-day moving average price of $1.49 and a 200 day moving average price of $2.01. The firm’s market capitalization is $175.69 million.
Parker Drilling Company (NYSE:PKD) last posted its quarterly earnings data on Tuesday, May 2nd. The oil and gas company reported ($0.31) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.34) by $0.03. Parker Drilling Company had a negative return on equity of 43.74% and a negative net margin of 44.28%. The business had revenue of $98.27 million for the quarter, compared to analysts’ expectations of $103.70 million. Analysts expect that Parker Drilling Company will post ($0.96) earnings per share for the current year.
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Hedge funds and other institutional investors have recently modified their holdings of the stock. GSB Wealth Management LLC bought a new stake in shares of Parker Drilling Company during the fourth quarter worth about $110,000. Sei Investments Co. boosted its stake in shares of Parker Drilling Company by 56.8% in the third quarter. Sei Investments Co. now owns 64,016 shares of the oil and gas company’s stock worth $139,000 after buying an additional 23,196 shares during the period. Tower Research Capital LLC TRC boosted its stake in shares of Parker Drilling Company by 16,993.5% in the first quarter. Tower Research Capital LLC TRC now owns 68,374 shares of the oil and gas company’s stock worth $119,000 after buying an additional 67,974 shares during the period. SG Americas Securities LLC bought a new stake in shares of Parker Drilling Company during the first quarter worth about $126,000. Finally, American International Group Inc. boosted its stake in shares of Parker Drilling Company by 7.0% in the first quarter. American International Group Inc. now owns 74,392 shares of the oil and gas company’s stock worth $130,000 after buying an additional 4,889 shares during the period. 66.48% of the stock is currently owned by hedge funds and other institutional investors.
About Parker Drilling Company
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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