Separately, Zacks Investment Research upgraded shares of Parker Drilling Company from a hold rating to a buy rating and set a $2.50 target price for the company in a research report on Tuesday, December 6th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the stock. The company has an average rating of Buy and a consensus price target of $2.95.
Parker Drilling Company (NYSE:PKD) opened at 1.55 on Thursday. The firm has a 50 day moving average of $1.92 and a 200-day moving average of $2.24. The stock’s market cap is $193.49 million. Parker Drilling Company has a 52-week low of $1.35 and a 52-week high of $3.16.
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In related news, Director Peter Thomas Fontana bought 160,000 shares of the company’s stock in a transaction that occurred on Friday, February 24th. The stock was purchased at an average price of $1.90 per share, for a total transaction of $304,000.00. Following the completion of the transaction, the director now owns 168,021 shares in the company, valued at $319,239.90. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 3.68% of the stock is currently owned by corporate insiders.
Several institutional investors have recently modified their holdings of PKD. GSB Wealth Management LLC purchased a new stake in shares of Parker Drilling Company during the fourth quarter worth $110,000. Sei Investments Co. increased its stake in shares of Parker Drilling Company by 56.8% in the third quarter. Sei Investments Co. now owns 64,016 shares of the company’s stock worth $139,000 after buying an additional 23,196 shares during the period. Metropolitan Life Insurance Co. NY increased its stake in shares of Parker Drilling Company by 2.4% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 77,163 shares of the company’s stock worth $201,000 after buying an additional 1,824 shares during the period. Phoenix Investment Adviser LLC increased its stake in shares of Parker Drilling Company by 130.6% in the third quarter. Phoenix Investment Adviser LLC now owns 105,938 shares of the company’s stock worth $230,000 after buying an additional 60,000 shares during the period. Finally, First Heartland Consultants Inc. increased its stake in shares of Parker Drilling Company by 26.5% in the third quarter. First Heartland Consultants Inc. now owns 380,000 shares of the company’s stock worth $825,000 after buying an additional 79,500 shares during the period. Hedge funds and other institutional investors own 64.07% of the company’s stock.
About Parker Drilling Company
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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