Parker Drilling Co. (PKD) Sees Unusually-High Trading Volume
Parker Drilling Co. (NYSE:PKD) shares saw an uptick in trading volume on Thursday . 384,375 shares changed hands during mid-day trading, an increase of 8% from the previous session’s volume of 355,639 shares.The stock last traded at $2.26 and had previously closed at $2.15.
Several research firms recently commented on PKD. Macquarie downgraded Parker Drilling from a “neutral” rating to an “underperform” rating and set a $1.50 price objective for the company. in a research note on Tuesday, August 9th. Zacks Investment Research cut Parker Drilling from a “hold” rating to a “sell” rating in a report on Thursday, June 2nd. Finally, Nomura set a $4.00 target price on Parker Drilling and gave the company a “buy” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $3.42.
The firm’s market capitalization is $276.75 million. The firm has a 50-day moving average price of $2.14 and a 200-day moving average price of $2.15.
Parker Drilling (NYSE:PKD) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported ($0.32) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.35) by $0.03. The business earned $105.30 million during the quarter, compared to analysts’ expectations of $105.80 million. The firm’s quarterly revenue was down 43.4% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.11) earnings per share. On average, equities analysts predict that Parker Drilling Co. will post ($1.33) earnings per share for the current year.
An institutional investor recently raised its position in Parker Drilling stock. Royce & Associates LLC raised its position in shares of 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 at the end of the most recent reporting period.
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 MarketBeat.com's FREE daily email newsletter.