Parker Drilling (PKD) Receives Average Rating of “Hold” from Analysts

Parker Drilling (NYSE:PKD) has received an average recommendation of “Hold” from the five ratings firms that are covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and one has issued a buy recommendation on the company.

Separately, Zacks Investment Research downgraded shares of Parker Drilling from a “hold” rating to a “sell” rating in a report on Thursday, March 8th.

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Large investors have recently made changes to their positions in the stock. Towle & Co. lifted its holdings in shares of Parker Drilling by 9.5% in the 3rd quarter. Towle & Co. now owns 9,943,319 shares of the oil and gas company’s stock valued at $10,938,000 after acquiring an additional 862,444 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Parker Drilling by 6.4% in the 2nd quarter. Vanguard Group Inc. now owns 6,095,922 shares of the oil and gas company’s stock valued at $8,230,000 after acquiring an additional 368,943 shares during the last quarter. State Street Corp lifted its holdings in shares of Parker Drilling by 8.5% in the 2nd quarter. State Street Corp now owns 2,324,481 shares of the oil and gas company’s stock valued at $3,135,000 after acquiring an additional 182,728 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Parker Drilling by 10.3% in the 2nd quarter. Northern Trust Corp now owns 2,378,934 shares of the oil and gas company’s stock valued at $3,211,000 after acquiring an additional 222,741 shares during the last quarter. Finally, Brigade Capital Management LP lifted its holdings in shares of Parker Drilling by 14.5% in the 4th quarter. Brigade Capital Management LP now owns 11,465,000 shares of the oil and gas company’s stock valued at $11,465,000 after acquiring an additional 1,455,000 shares during the last quarter. 65.26% of the stock is owned by hedge funds and other institutional investors.

Shares of Parker Drilling (PKD) traded up $0.02 during trading hours on Monday, hitting $0.79. 1,490,000 shares of the company were exchanged, compared to its average volume of 968,259. The company has a current ratio of 3.07, a quick ratio of 2.76 and a debt-to-equity ratio of 1.96. Parker Drilling has a 1 year low of $0.75 and a 1 year high of $1.85. The company has a market cap of $108.98, a P/E ratio of -0.87 and a beta of 1.58.

Parker Drilling (NYSE:PKD) last announced its quarterly earnings results on Wednesday, February 14th. The oil and gas company reported ($0.16) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.17) by $0.01. Parker Drilling had a negative net margin of 26.82% and a negative return on equity of 33.28%. The firm had revenue of $116.30 million during the quarter, compared to the consensus estimate of $112.22 million. During the same quarter last year, the firm earned ($0.39) EPS. The firm’s revenue for the quarter was up 23.7% compared to the same quarter last year. equities research analysts predict that Parker Drilling will post -0.61 earnings per share for the current fiscal year.

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About Parker Drilling

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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