Shares of Parker Drilling Company (NYSE:PKD) have been assigned a consensus recommendation of “Hold” from the nine research firms that are currently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, two have given a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $3.67.

A number of research analysts have weighed in on PKD shares. ValuEngine downgraded Parker Drilling from a “sell” rating to a “strong sell” rating in a report on Friday, June 2nd. Zacks Investment Research downgraded Parker Drilling from a “buy” rating to a “hold” rating in a research note on Wednesday, April 26th. Tudor Pickering upgraded Parker Drilling from a “hold” rating to a “buy” rating in a research note on Monday, April 3rd. Finally, Macquarie upgraded Parker Drilling from an “underperform” rating to a “neutral” rating in a research note on Tuesday, May 9th.

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A number of institutional investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC boosted its position in Parker Drilling 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 during the period. Metropolitan Life Insurance Co. NY boosted its position in Parker Drilling 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 during the last quarter. Schwab Charles Investment Management Inc. boosted its position in Parker Drilling 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 during the last quarter. Renaissance Technologies LLC boosted its position in Parker Drilling 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 during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in 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 during the last quarter. 65.99% of the stock is currently owned by institutional investors and hedge funds.

Shares of Parker Drilling (NYSE PKD) remained flat at $1.30 on Tuesday. The company had a trading volume of 140,100 shares. The company’s market capitalization is $169.18 million. Parker Drilling has a 52-week low of $1.15 and a 52-week high of $2.90. The firm has a 50-day moving average of $1.33 and a 200 day moving average of $1.76.

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

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.

Analyst Recommendations for Parker Drilling (NYSE:PKD)

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