Parker Drilling Co. (NYSE:PKD)’s share price traded down 2.2% on Thursday . The stock traded as low as $2.24 and last traded at $2.25, with a volume of 528,089 shares traded. The stock had previously closed at $2.30.

Several equities analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of Parker Drilling from a “hold” rating to a “sell” rating in a research note on Tuesday, April 19th. Nomura Holdings Inc. assumed coverage on shares of Parker Drilling in a research note on Friday, April 8th. They issued a “buy” rating and a $4.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $3.80.

The firm has a 50-day moving average of $2.31 and a 200-day moving average of $2.04. The firm’s market capitalization is $273.26 million.

Parker Drilling (NYSE:PKD) last posted its quarterly earnings results on Tuesday, May 3rd. The company reported ($0.18) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.21) by $0.03. The business earned $143.90 million during the quarter, compared to the consensus estimate of $124.59 million. During the same quarter in the previous year, the company earned $0.03 earnings per share. The company’s revenue for the quarter was down 36.1% compared to the same quarter last year. Analysts expect that Parker Drilling Co. will post ($1.25) EPS for the current fiscal year.

Other hedge funds and institutional investors have bought and sold shares of the company. Oxford Asset Management increased its position in Parker Drilling by 47.8% in the fourth quarter. Oxford Asset Management now owns 771,949 shares of the company’s stock valued at $1,359,000 after buying an additional 249,812 shares during the last quarter. Royce & Associates LLC increased its position in Parker Drilling by 1.2% in the fourth quarter. Royce & Associates LLC now owns 769,500 shares of the company’s stock valued at $1,400,000 after buying an additional 9,000 shares during the last quarter. Finally, Towle & Co. increased its position in Parker Drilling by 16.4% in the fourth quarter. Towle & Co. now owns 6,935,239 shares of the company’s stock valued at $12,622,000 after buying an additional 977,840 shares during the last quarter.

Parker Drilling Company (Parker Drilling) is a provider of contract drilling, and drilling-related services and rental tools. The Company owns and operates drilling rigs and drilling-related equipment and also performs drilling-related services, referred to as Operations & Maintenance (O&M) work, for customer-owned drilling rigs on a contracted basis.

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