Seaport Global Securities Reaffirms “Neutral” Rating for Parker Drilling Company (NYSE:PKD)
Parker Drilling Company (NYSE:PKD)‘s stock had its “neutral” rating reiterated by research analysts at Seaport Global Securities in a research report issued on Friday.
Other equities research analysts have also issued reports about the stock. Zacks Investment Research lowered shares of Parker Drilling from a “buy” rating to a “hold” rating in a report on Wednesday, April 26th. Macquarie raised shares of Parker Drilling from an “underperform” rating to a “neutral” rating in a report on Tuesday, May 9th. Finally, ValuEngine lowered shares of Parker Drilling from a “sell” rating to a “strong sell” rating in a report on Friday, June 2nd. Two analysts have rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $2.95.
Shares of Parker Drilling (NYSE:PKD) opened at 1.30 on Friday. Parker Drilling has a 12 month low of $1.15 and a 12 month high of $2.90. The firm’s 50-day moving average is $1.30 and its 200 day moving average is $1.69. The company’s market capitalization is $179.18 million.
Parker Drilling (NYSE:PKD) last announced its quarterly earnings data on Wednesday, August 2nd. The oil and gas company reported ($0.23) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.04. Parker Drilling had a negative net margin of 41.31% and a negative return on equity of 43.64%. The business had revenue of $109.60 million during the quarter, compared to analyst estimates of $112.25 million. During the same period last year, the firm posted ($0.32) EPS. The company’s revenue was up 4.1% on a year-over-year basis. Equities analysts expect that Parker Drilling will post ($0.93) EPS for the current year.
A number of hedge funds have recently modified their holdings of PKD. FMR LLC increased its stake 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 worth $12,519,000 after buying an additional 4,021,846 shares in the last quarter. Donald Smith & CO. Inc. increased its stake in 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 during the period. Sanders Morris Harris Inc. increased its stake in Parker Drilling by 5,549.9% in the first quarter. Sanders Morris Harris Inc. now owns 564,993 shares of the oil and gas company’s stock valued at $989,000 after buying an additional 554,993 shares during the period. JPMorgan Chase & Co. increased its stake in 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 during the period. Finally, Shell Asset Management Co. acquired a new stake in Parker Drilling during the first quarter valued at $906,000. Institutional investors own 65.76% of the company’s stock.
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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