Parker Drilling Company (PKD) Given Average Rating of “Hold” by Brokerages
Parker Drilling Company (NYSE:PKD) has been given a consensus recommendation of “Hold” by the six brokerages that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $2.63.
PKD has been the subject of several recent research reports. Zacks Investment Research upgraded shares of Parker Drilling from a “hold” rating to a “buy” rating and set a $1.25 target price for the company in a report on Thursday, August 24th. Seaport Global Securities restated a “neutral” rating on shares of Parker Drilling in a report on Friday, August 4th.
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Parker Drilling (NYSE:PKD) last posted its earnings results on Wednesday, November 1st. The oil and gas company reported ($0.15) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.20) by $0.05. Parker Drilling had a negative net margin of 41.31% and a negative return on equity of 43.64%. The firm had revenue of $118.31 million during the quarter, compared to the consensus estimate of $119.80 million. During the same period last year, the firm posted ($0.37) EPS. The firm’s revenue for the quarter was up 21.7% on a year-over-year basis.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Schwab Charles Investment Management Inc. grew its holdings in shares of Parker Drilling by 0.6% during the second quarter. Schwab Charles Investment Management Inc. now owns 491,408 shares of the oil and gas company’s stock worth $664,000 after buying an additional 2,812 shares in the last quarter. American International Group Inc. grew its holdings in shares of Parker Drilling by 7.0% during the first quarter. American International Group Inc. now owns 74,392 shares of the oil and gas company’s stock worth $130,000 after buying an additional 4,889 shares in the last quarter. Strs Ohio grew its holdings in shares of Parker Drilling by 6.1% during the second quarter. Strs Ohio now owns 165,600 shares of the oil and gas company’s stock worth $223,000 after buying an additional 9,500 shares in the last quarter. Parametric Portfolio Associates LLC grew its holdings in shares of Parker Drilling by 2.0% during the first quarter. Parametric Portfolio Associates LLC now owns 490,070 shares of the oil and gas company’s stock worth $858,000 after buying an additional 9,752 shares in the last quarter. Finally, Alliancebernstein L.P. grew its holdings in shares of Parker Drilling by 5.4% during the second quarter. Alliancebernstein L.P. now owns 191,989 shares of the oil and gas company’s stock worth $259,000 after buying an additional 9,800 shares in the last quarter. Institutional investors and hedge funds own 65.38% of the company’s stock.
Parker Drilling 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.
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