Shares of Parker Drilling (NYSE:PKD) have been given an average rating of “Hold” by the five ratings firms that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $1.25.
Parker Drilling (NYSE PKD) traded down $0.01 during mid-day trading on Thursday, reaching $0.97. 963,823 shares of the company were exchanged, compared to its average volume of 796,428. The firm has a market cap of $133.62, a PE ratio of -1.07 and a beta of 1.45. Parker Drilling has a twelve month low of $0.85 and a twelve month high of $2.05. The company has a debt-to-equity ratio of 1.78, a quick ratio of 3.02 and a current ratio of 3.39.
Parker Drilling (NYSE:PKD) last released its quarterly earnings data on Wednesday, February 14th. The oil and gas company reported ($0.16) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.17) by $0.01. The business had revenue of $116.30 million during the quarter, compared to analysts’ expectations of $112.22 million. Parker Drilling had a negative net margin of 26.82% and a negative return on equity of 32.05%. The firm’s quarterly revenue was up 23.7% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.39) EPS. analysts predict that Parker Drilling will post -0.46 EPS for the current fiscal year.
A number of hedge funds have recently added to or reduced their stakes in the stock. Schwab Charles Investment Management Inc. increased its position in Parker Drilling by 0.6% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 491,408 shares of the oil and gas company’s stock worth $664,000 after purchasing an additional 2,812 shares in the last quarter. Alliancebernstein L.P. increased its position in Parker Drilling by 5.4% during the 2nd quarter. Alliancebernstein L.P. now owns 191,989 shares of the oil and gas company’s stock worth $259,000 after purchasing an additional 9,800 shares in the last quarter. Voya Investment Management LLC increased its position in Parker Drilling by 24.5% during the 2nd quarter. Voya Investment Management LLC now owns 79,644 shares of the oil and gas company’s stock worth $108,000 after purchasing an additional 15,655 shares in the last quarter. Bank of New York Mellon Corp increased its position in Parker Drilling by 2.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 766,318 shares of the oil and gas company’s stock worth $1,035,000 after purchasing an additional 21,760 shares in the last quarter. Finally, Teachers Advisors LLC increased its position in Parker Drilling by 10.0% during the 2nd quarter. Teachers Advisors LLC now owns 376,394 shares of the oil and gas company’s stock worth $508,000 after purchasing an additional 34,277 shares in the last quarter. Institutional investors and hedge funds own 62.60% of the company’s stock.
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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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