Parker Drilling Co. (NYSE:PKD)’s share price was down 2.9% on Wednesday . The company traded as low as $2.02 and last traded at $2.03, with a volume of 117,847 shares. The stock had previously closed at $2.09.

A number of equities analysts have recently weighed in on PKD shares. Zacks Investment Research lowered Parker Drilling from a “hold” rating to a “sell” rating in a research note on Tuesday, April 12th. Nomura started coverage on Parker Drilling in a research report on Friday, April 8th. They set 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 issued a hold rating and three have assigned a buy rating to the company’s stock. Parker Drilling presently has an average rating of “Hold” and an average target price of $3.80.

The company’s market cap is $251.10 million. The stock has a 50 day moving average price of $2.28 and a 200 day moving average price of $2.07.

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

An institutional investor recently raised its position in Parker Drilling stock. Royce & Associates LLC raised its position in Parker Drilling Co. (NYSE:PKD) by 1.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. 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 about 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.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with's FREE daily email newsletter.