Parker Drilling Co. (PKD) Sees Large Volume Increase
Parker Drilling Co. (NYSE:PKD) shares saw unusually-high trading volume on Thursday . Approximately 384,375 shares traded hands during 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.
PKD has been the subject of several recent analyst reports. Zacks Investment Research cut Parker Drilling from a “hold” rating to a “sell” rating in a research note on Thursday, June 2nd. Macquarie cut Parker Drilling from a “neutral” rating to an “underperform” rating and set a $1.50 target price for the company. in a research note on Tuesday, August 9th. Finally, Nomura set a $4.00 target price on Parker Drilling and gave the stock a “buy” rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $3.00.
The stock’s market capitalization is $266.82 million. The company’s 50 day moving average price is $2.14 and its 200 day moving average price is $2.15.
Parker Drilling (NYSE:PKD) last issued its 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 quarter in the prior year, the business posted ($0.11) earnings per share. The business had revenue of $105.30 million for the quarter, compared to analysts’ expectations of $105.80 million. The business’s revenue for the quarter was down 43.4% on a year-over-year basis. Equities analysts expect that Parker Drilling Co. will post ($1.32) EPS for the current fiscal year.
A hedge fund recently raised its stake in Parker Drilling stock. Royce & Associates LLC boosted its stake 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 firm 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 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.
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