Parker Drilling Co. (NYSE:PKD) shares shot up 2.9% on Thursday . The company traded as high as $2.17 and last traded at $2.16, with a volume of 322,975 shares changing hands. The stock had previously closed at $2.10.

A number of research firms have weighed in on PKD. Macquarie lowered Parker Drilling from a “neutral” rating to an “underperform” rating and set a $1.50 target price for the company. in a report on Tuesday, August 9th. Zacks Investment Research lowered Parker Drilling from a “hold” rating to a “sell” rating in a report on Thursday, June 2nd. Nomura set a $4.00 target price on Parker Drilling and gave the company a “buy” rating in a report on Tuesday, August 16th. Seaport Global Securities reaffirmed a “neutral” rating on shares of Parker Drilling in a report on Friday, August 19th. Finally, Evercore ISI reaffirmed a “buy” rating and set a $3.50 target price on shares of Parker Drilling in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $3.08.

The firm has a 50 day moving average price of $2.13 and a 200-day moving average price of $2.18. The stock’s market capitalization is $270.54 million.

Parker Drilling (NYSE:PKD) last posted its 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 firm earned $105.30 million during the quarter, compared to the consensus estimate of $105.80 million. During the same period in the prior year, the company posted ($0.11) EPS. The firm’s revenue was down 43.4% compared to the same quarter last year. Analysts expect that Parker Drilling Co. will post ($1.32) earnings per share for the current fiscal year.

A hedge fund recently raised its stake in Parker Drilling stock. Royce & Associates LLC boosted its position in shares of Parker Drilling Co. (NYSE:PKD) by 1.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. 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 SEC filing.

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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