Parker Drilling Company (NYSE:PKD) has received an average rating of “Hold” from the nine ratings firms that are presently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $3.67.
PKD has been the subject of several analyst reports. Zacks Investment Research cut Parker Drilling from a “buy” rating to a “hold” rating in a report on Wednesday, April 26th. Macquarie raised Parker Drilling from an “underperform” rating to a “neutral” rating in a report on Tuesday, May 9th. ValuEngine cut Parker Drilling from a “sell” rating to a “strong sell” rating in a report on Friday, June 2nd. Finally, Seaport Global Securities reissued a “neutral” rating on shares of Parker Drilling in a report on Friday, August 4th.
Several institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP raised its position in shares of Parker Drilling by 0.7% in the first quarter. Dimensional Fund Advisors LP now owns 10,488,051 shares of the oil and gas company’s stock valued at $18,354,000 after buying an additional 73,898 shares in the last quarter. FMR LLC raised its position in shares of Parker Drilling by 128.4% in the first quarter. FMR LLC now owns 7,153,956 shares of the oil and gas company’s stock valued at $12,519,000 after buying an additional 4,021,846 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Parker Drilling by 3.6% in the first quarter. Vanguard Group Inc. now owns 5,726,979 shares of the oil and gas company’s stock valued at $10,023,000 after buying an additional 197,586 shares in the last quarter. Donald Smith & CO. Inc. raised its position in shares of Parker Drilling by 36.6% in the first quarter. Donald Smith & CO. Inc. now owns 4,878,302 shares of the oil and gas company’s stock valued at $8,537,000 after buying an additional 1,307,257 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Parker Drilling by 20.5% in the first quarter. JPMorgan Chase & Co. now owns 3,211,560 shares of the oil and gas company’s stock valued at $5,620,000 after buying an additional 546,640 shares in the last quarter. Hedge funds and other institutional investors own 65.76% of the company’s stock.
Shares of Parker Drilling (PKD) remained flat at $1.25 during mid-day trading on Tuesday. The stock had a trading volume of 204,952 shares. The stock has a 50-day moving average of $1.30 and a 200-day moving average of $1.69. Parker Drilling has a 1-year low of $1.15 and a 1-year high of $2.90. The company’s market cap is $172.29 million.
Parker Drilling (NYSE:PKD) last issued its quarterly earnings results on Wednesday, August 2nd. The oil and gas company reported ($0.23) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.27) by $0.04. The company had revenue of $109.60 million during the quarter, compared to analysts’ expectations of $112.25 million. Parker Drilling had a negative return on equity of 43.64% and a negative net margin of 41.31%. The firm’s revenue was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.32) EPS. Analysts anticipate that Parker Drilling will post ($0.90) earnings per share for the current fiscal year.
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About Parker Drilling
Parker Drilling Company (Parker Drilling) is a provider of contract drilling, and drilling-related services and rental tools and services. The Company’s business consists of two business lines: drilling services and rental tools services. Its Rental Tools Services business includes U.S. Rental Tools and International Rental Tools segments, and its Drilling Services business includes its U.S.
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