Shares of Parker Drilling Company (NYSE:PKD) have been given an average rating of “Hold” by the nine brokerages that are currently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, two have given a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $3.67.

Several brokerages have recently commented on PKD. Tudor Pickering raised Parker Drilling Company from a “hold” rating to a “buy” rating in a report on Monday, April 3rd. Macquarie raised Parker Drilling Company from an “underperform” rating to a “neutral” rating in a report on Tuesday, May 9th. Zacks Investment Research lowered Parker Drilling Company from a “buy” rating to a “hold” rating in a report on Wednesday, April 26th. Finally, ValuEngine lowered Parker Drilling Company from a “sell” rating to a “strong sell” rating in a report on Friday, June 2nd.

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A number of hedge funds have recently modified their holdings of the company. Tower Research Capital LLC TRC raised its stake in shares of Parker Drilling Company by 16,993.5% in the first quarter. Tower Research Capital LLC TRC now owns 68,374 shares of the oil and gas company’s stock valued at $119,000 after buying an additional 67,974 shares in the last quarter. Metropolitan Life Insurance Co. NY raised its stake in shares of Parker Drilling Company by 14.6% in the first quarter. Metropolitan Life Insurance Co. NY now owns 88,430 shares of the oil and gas company’s stock valued at $155,000 after buying an additional 11,267 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in shares of Parker Drilling Company by 5.5% in the first quarter. Schwab Charles Investment Management Inc. now owns 488,596 shares of the oil and gas company’s stock valued at $856,000 after buying an additional 25,308 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Parker Drilling Company by 19.0% in the first quarter. Renaissance Technologies LLC now owns 1,539,000 shares of the oil and gas company’s stock valued at $2,693,000 after buying an additional 245,700 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Parker Drilling Company 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. 66.38% of the stock is owned by institutional investors and hedge funds.

Parker Drilling Company (NYSE PKD) opened at 1.35 on Friday. Parker Drilling Company has a 12-month low of $1.15 and a 12-month high of $2.90. The company’s market cap is $175.69 million. The stock has a 50 day moving average of $1.39 and a 200-day moving average of $1.93.

Parker Drilling Company (NYSE:PKD) last issued its quarterly earnings data on Tuesday, May 2nd. The oil and gas company reported ($0.31) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.34) by $0.03. Parker Drilling Company had a negative return on equity of 43.74% and a negative net margin of 44.28%. The company had revenue of $98.27 million during the quarter, compared to analyst estimates of $103.70 million. On average, equities research analysts anticipate that Parker Drilling Company will post ($0.95) earnings per share for the current fiscal year.

Parker Drilling Company Company Profile

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.

Analyst Recommendations for Parker Drilling Company (NYSE:PKD)

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