Parker Drilling Co. (NYSE:PKD) traded down 3.1% on Friday . The company traded as low as $2.16 and last traded at $2.16, with a volume of 185,243 shares. The stock had previously closed at $2.23.

A number of equities research analysts have weighed in on the stock. Zacks Investment Research downgraded shares of Parker Drilling from a “hold” rating to a “sell” rating in a research note on Thursday, June 2nd. Nomura set a $4.00 price target on shares of Parker Drilling and gave the stock a “buy” rating in a research note on Tuesday. Finally, Macquarie cut Parker Drilling from a “neutral” rating to an “underperform” rating and set a $1.50 price objective for the company. in a report on Tuesday, August 9th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $3.00.

The company’s market capitalization is $266.82 million. The stock’s 50-day moving average price is $2.14 and its 200 day moving average price is $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 analysts’ consensus estimates of ($0.35) by $0.03. The business earned $105.30 million during the quarter, compared to the consensus estimate of $105.80 million. During the same quarter last year, the company posted ($0.11) EPS. The firm’s revenue was down 43.4% on a year-over-year basis. Equities analysts anticipate that Parker Drilling Co. will post ($1.32) EPS for the current year.

A hedge fund recently raised its stake 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 SEC. 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 approximately 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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