Parker Drilling Co. (NYSE:PKD) shares traded down 3.7% during trading on Thursday . The company traded as low as $2.08 and last traded at $2.09, with a volume of 284,329 shares trading hands. The stock had previously closed at $2.17.

A number of research analysts recently commented on the company. Zacks Investment Research downgraded Parker Drilling from a “hold” rating to a “sell” rating in a report on Tuesday, April 19th. Nomura Holdings Inc. assumed coverage on Parker Drilling in a report on Friday, April 8th. They issued a “buy” rating and a $4.00 price target for the company. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. Parker Drilling currently has a consensus rating of “Hold” and an average price target of $3.80.

The company has a 50-day moving average price of $2.30 and a 200-day moving average price of $2.05. The stock’s market cap is $257.26 million.

Parker Drilling (NYSE:PKD) last released its quarterly earnings data on Tuesday, May 3rd. The company reported ($0.18) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.03. The firm had revenue of $143.90 million for the quarter, compared to analyst estimates of $124.59 million. During the same period in the previous year, the business posted $0.03 EPS. Parker Drilling’s revenue for the quarter was down 36.1% on a year-over-year basis. On average, analysts expect that Parker Drilling Co. will post ($1.25) earnings per share for the current year.

An institutional investor recently raised its position in Parker Drilling stock. Royce & Associates LLC boosted its position in shares of Parker Drilling Co. (NYSE:PKD) by 1.2% during the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 769,500 shares of the company’s stock after buying an additional 9,000 shares during the period. Royce & Associates LLC owned 0.63% of Parker Drilling worth $1,400,000 as of its most recent SEC filing.

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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