Shares of Parker Drilling Co. (NYSE:PKD) traded down 6.2% during mid-day trading on Tuesday . The company traded as low as $2.11 and last traded at $2.11, with a volume of 208,892 shares trading hands. The stock had previously closed at $2.25.

A number of analysts have recently issued reports on the company. Zacks Investment Research cut Parker Drilling from a “hold” rating to a “sell” rating in a research report on Tuesday, April 19th. Macquarie cut Parker Drilling from a “neutral” rating to an “underperform” rating in a research report on Tuesday. Two analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $3.80.

The firm’s 50 day moving average price is $2.19 and its 200 day moving average price is $2.11. The company’s market cap is $266.82 million.

Parker Drilling (NYSE:PKD) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported ($0.32) EPS for the quarter, beating the consensus estimate of ($0.35) by $0.03. During the same period last year, the company posted ($0.11) earnings per share. The company had revenue of $105.30 million for the quarter, compared to analyst estimates of $105.80 million. The business’s revenue for the quarter was down 43.4% on a year-over-year basis. On average, equities analysts anticipate that Parker Drilling Co. will post ($1.26) 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 disclosure with the SEC. 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 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.