Shares of Parker Drilling Co. (NYSE:PKD) were up 0.9% during mid-day trading on Thursday . The stock traded as high as $2.31 and last traded at $2.19, with a volume of 310,107 shares. The stock had previously closed at $2.17.

Several analysts have issued reports on PKD shares. Zacks Investment Research cut shares of Parker Drilling from a “hold” rating to a “sell” rating in a research note on Thursday, March 24th. Nomura Holdings Inc. started 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 on the stock. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company’s stock. Parker Drilling presently has a consensus rating of “Hold” and a consensus price target of $3.80.

The firm’s 50 day moving average is $2.31 and its 200-day moving average is $2.03. The company’s market cap is $264.64 million.

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

Several hedge funds recently made changes to their positions in the company. Oxford Asset Management raised its stake in shares of Parker Drilling by 47.8% in the fourth quarter. Oxford Asset Management now owns 771,949 shares of the company’s stock worth $1,359,000 after buying an additional 249,812 shares in the last quarter. Royce & Associates LLC raised its stake in shares of 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 period. Finally, Towle & Co. raised its stake in shares of 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 period.

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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