Parker Drilling Co. (PKD) Trading 2.9% Higher
Shares of Parker Drilling Co. (NYSE:PKD) traded up 2.9% on Thursday . The company traded as high as $2.17 and last traded at $2.16, with a volume of 322,975 shares. The stock had previously closed at $2.10.
PKD has been the topic of several analyst reports. Macquarie cut shares of Parker Drilling from a “neutral” rating to an “underperform” rating and set a $1.50 price objective on the stock. in a research note on Tuesday, August 9th. Zacks Investment Research cut shares of Parker Drilling from a “hold” rating to a “sell” rating in a research note on Thursday, June 2nd. Nomura set a $4.00 price objective on shares of Parker Drilling and gave the stock a “buy” rating in a research note on Tuesday, August 16th. Seaport Global Securities reissued a “neutral” rating on shares of Parker Drilling in a research note on Friday, August 19th. Finally, Evercore ISI reissued a “buy” rating and issued a $3.50 price objective on shares of Parker Drilling in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $3.08.
The company’s 50 day moving average price is $2.13 and its 200 day moving average price is $2.18. The stock’s market cap is $268.06 million.
Parker Drilling (NYSE:PKD) last posted its earnings results on Tuesday, August 2nd. The company reported ($0.32) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.35) by $0.03. During the same quarter in the prior year, the company earned ($0.11) earnings per share. The firm earned $105.30 million during the quarter, compared to analysts’ expectations of $105.80 million. The business’s revenue for the quarter was down 43.4% compared to the same quarter last year. Equities analysts expect that Parker Drilling Co. will post ($1.32) EPS for the current fiscal year.
An institutional investor recently raised its position in Parker Drilling stock. Royce & Associates LLC boosted its stake in Parker Drilling Co. (NYSE:PKD) by 1.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 769,500 shares of the company’s stock after buying an additional 9,000 shares during the period. Royce & Associates LLC owned approximately 0.63% of Parker Drilling worth $1,400,000 as of its most recent filing with the SEC.
Parker Drilling Company (Parker Drilling) is a provider of contract drilling, and drilling-related services and rental tools. The Company’s business consists of two business lines: drilling services and rental tools services. Its Rental Tools Services business includes its Rental Tools segment, and its Drilling Services business includes its U.S.
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