Parker Drilling Company (PKD) Given Average Recommendation of “Hold” by Analysts
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.
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