Parker Drilling Company (NYSE:PKD) issued its quarterly earnings data on Wednesday. The oil and gas company reported ($0.15) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.21) by $0.06, Bloomberg Earnings reports. Parker Drilling had a negative return on equity of 37.32% and a negative net margin of 33.06%. The company had revenue of $118.31 million during the quarter, compared to analysts’ expectations of $119.80 million. During the same quarter in the previous year, the business earned ($0.37) earnings per share. The firm’s revenue for the quarter was up 21.7% on a year-over-year basis.
Parker Drilling (PKD) traded up $0.01 during trading on Friday, hitting $1.06. The stock had a trading volume of 731,868 shares, compared to its average volume of 829,405.
A number of equities research analysts have weighed in on PKD shares. Zacks Investment Research upgraded Parker Drilling from a “hold” rating to a “buy” rating and set a $1.25 price objective for the company in a research note on Thursday, August 24th. Seaport Global Securities restated a “neutral” rating on shares of Parker Drilling in a research note on Friday, August 4th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. Parker Drilling presently has an average rating of “Hold” and a consensus price target of $2.63.
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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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