ValuEngine Lowers Parker Drilling Company (PKD) to Strong Sell

ValuEngine lowered shares of Parker Drilling Company (NYSE:PKD) from a sell rating to a strong sell rating in a research report report published on Friday morning.

Other equities analysts also recently issued research reports about the stock. Zacks Investment Research downgraded shares of Parker Drilling Company from a hold rating to a sell rating in a report on Thursday, June 1st. Tudor Pickering raised shares of Parker Drilling Company from a hold rating to a buy rating in a report on Monday, April 3rd. Finally, Macquarie raised shares of Parker Drilling Company from an underperform rating to a neutral rating in a report on Tuesday, May 9th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the stock. Parker Drilling Company has a consensus rating of Hold and a consensus price target of $2.95.

Shares of Parker Drilling Company (NYSE:PKD) traded down 1.852% on Friday, hitting $1.325. 195,821 shares of the stock traded hands. The firm’s 50-day moving average is $1.52 and its 200 day moving average is $2.03. Parker Drilling Company has a 12-month low of $1.30 and a 12-month high of $2.90. The firm’s market cap is $172.44 million.

Parker Drilling Company (NYSE:PKD) last released its quarterly earnings results on Tuesday, May 2nd. The oil and gas company reported ($0.31) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.03. Parker Drilling Company had a negative net margin of 45.16% and a negative return on equity of 28.44%. The business had revenue of $98.27 million during the quarter, compared to the consensus estimate of $103.70 million. Equities research analysts forecast that Parker Drilling Company will post ($0.96) EPS for the current fiscal year.

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Institutional investors have recently added to or reduced their stakes in the company. Metropolitan Life Insurance Co. NY increased its position in Parker Drilling Company by 2.4% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 77,163 shares of the oil and gas company’s stock worth $201,000 after buying an additional 1,824 shares in the last quarter. American International Group Inc. increased its position in Parker Drilling Company by 7.0% in 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. Parametric Portfolio Associates LLC increased its position in Parker Drilling Company by 2.0% in 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. Cornerstone Capital Management Holdings LLC. increased its position in Parker Drilling Company by 16.8% in the first quarter. Cornerstone Capital Management Holdings LLC. now owns 93,818 shares of the oil and gas company’s stock worth $163,000 after buying an additional 13,494 shares in the last quarter. Finally, Wells Fargo & Company MN increased its position in Parker Drilling Company by 0.8% in the first quarter. Wells Fargo & Company MN now owns 1,814,046 shares of the oil and gas company’s stock worth $3,175,000 after buying an additional 13,847 shares in the last quarter. 64.07% of the stock is owned by hedge funds and other institutional investors.

Parker Drilling Company 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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “PKD”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

To view ValuEngine’s full report, visit ValuEngine’s official website.

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