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

Several equities analysts have recently commented on PKD shares. Nomura Holdings Inc. started coverage on Parker Drilling in a research report on Friday, April 8th. They issued a “buy” rating and a $4.00 price objective on the stock. Zacks Investment Research downgraded Parker Drilling from a “hold” rating to a “sell” rating in a research report on Thursday, June 2nd. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $3.80.

The stock’s market cap is $258.49 million. The company has a 50 day moving average price of $2.30 and a 200-day moving average price of $2.05.

Parker Drilling (NYSE:PKD) last issued its earnings results on Tuesday, May 3rd. The company reported ($0.18) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.21) by $0.03. The firm earned $143.90 million during the quarter, compared to analysts’ expectations of $124.59 million. The business’s revenue was down 36.1% on a year-over-year basis. During the same quarter last year, the business earned $0.03 EPS. Analysts anticipate that Parker Drilling Co. will post ($1.25) EPS for the current fiscal year.

A hedge fund recently raised its stake in Parker Drilling stock. Royce & Associates LLC increased its stake in Parker Drilling Co. (NYSE:PKD) by 1.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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 at the end of the most recent quarter.

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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