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

Several analysts have commented on the stock. Zacks Investment Research cut 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 price target on the stock. Two 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. The company has a consensus rating of “Hold” and an average target price of $3.80.

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

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

A number of hedge funds have recently added to or reduced their stakes in PKD. Towle & Co. raised its stake 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 in the last quarter. Oxford Asset Management raised its stake 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 in the last quarter. Finally, Royce & Associates LLC raised its stake 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 in 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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