PARKER DRILLING/SH PAR $ (NYSE:PKD) Stock Price Up 16%

Shares of PARKER DRILLING/SH PAR $ (NYSE:PKD) rose 16% during mid-day trading on Thursday . The stock traded as high as $22.47 and last traded at $22.01, approximately 320,492 shares were traded during trading. An increase of 429% from the average daily volume of 60,617 shares. The stock had previously closed at $18.98.

PKD has been the subject of several research reports. Imperial Capital lowered their price objective on shares of PARKER DRILLING/SH PAR $ from $34.00 to $30.00 and set an “outperform” rating for the company in a research report on Thursday. Zacks Investment Research raised shares of PARKER DRILLING/SH PAR $ from a “sell” rating to a “hold” rating in a research report on Tuesday, September 3rd.

The company’s 50-day moving average price is $15.35 and its 200-day moving average price is $14.74. The company has a current ratio of 2.76, a quick ratio of 2.61 and a debt-to-equity ratio of 0.60.



PARKER DRILLING/SH PAR $ (NYSE:PKD) last announced its earnings results on Monday, August 5th. The oil and gas company reported $0.31 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.55 by ($0.24). The company had revenue of $156.03 million for the quarter, compared to analyst estimates of $157.62 million. On average, research analysts expect that PARKER DRILLING/SH PAR $ will post -9.13 EPS for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the stock. RBF Capital LLC acquired a new position in PARKER DRILLING/SH PAR $ during the second quarter worth $2,238,000. BlackRock Inc. acquired a new position in PARKER DRILLING/SH PAR $ during the second quarter worth $9,571,000. Bank of New York Mellon Corp acquired a new position in PARKER DRILLING/SH PAR $ during the second quarter worth $534,000. Wells Fargo & Company MN acquired a new position in PARKER DRILLING/SH PAR $ during the second quarter worth $244,000. Finally, Charles Schwab Investment Management Inc. acquired a new position in PARKER DRILLING/SH PAR $ during the second quarter worth $394,000. Institutional investors and hedge funds own 50.48% of the company’s stock.

PARKER DRILLING/SH PAR $ Company Profile (NYSE:PKD)

Parker Drilling Company provides contract drilling and drilling-related services, and rental tools and services to the energy industry. It operates through two business lines, Drilling Services and Rental Tools Services. The Drilling Services business line drills oil, natural gas, and geothermal wells with company-owned rigs and customer-owned rigs; and operates barge rigs for drilling oil and natural gas in the shallow waters in and along the inland waterways and coasts of Louisiana, Alabama, and Texas.

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