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.

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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.

Analyst Recommendations for Parker Drilling (NYSE:PKD)

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