PARKER DRILLING/SH PAR $ (NYSE:PKD) Shares Pass Above 200-Day Moving Average of $18.32

PARKER DRILLING/SH PAR $ (NYSE:PKD)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $18.32 and traded as high as $18.93. PARKER DRILLING/SH PAR $ shares last traded at $18.68, with a volume of 47 shares traded.

A number of equities analysts recently issued reports on PKD shares. Zacks Investment Research upgraded PARKER DRILLING/SH PAR $ from a “hold” rating to a “buy” rating and set a $22.00 target price for the company in a research note on Thursday, November 7th. Imperial Capital reduced their target price on PARKER DRILLING/SH PAR $ from $34.00 to $30.00 and set an “outperform” rating for the company in a research note on Thursday, September 12th.

The stock has a 50 day moving average of $19.11 and a 200-day moving average of $18.32. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.80 and a quick ratio of 2.60.

PARKER DRILLING/SH PAR $ (NYSE:PKD) last released its quarterly earnings data on Tuesday, November 5th. The oil and gas company reported $0.27 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.25. The company had revenue of $160.08 million for the quarter, compared to analysts’ expectations of $150.20 million. As a group, analysts forecast that PARKER DRILLING/SH PAR $ will post 0.8 earnings per share for the current fiscal year.

In other PARKER DRILLING/SH PAR $ news, major shareholder Brigade Capital Management, Lp sold 3,605 shares of PARKER DRILLING/SH PAR $ stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $19.56, for a total transaction of $70,513.80. Insiders have sold a total of 92,212 shares of company stock valued at $1,805,526 in the last quarter. Company insiders own 0.23% of the company’s stock.

Several large investors have recently bought and sold shares of PKD. JPMorgan Chase & Co. acquired a new stake in shares of PARKER DRILLING/SH PAR $ during the 2nd quarter valued at about $49,000. Tower Research Capital LLC TRC acquired a new stake in shares of PARKER DRILLING/SH PAR $ during the 2nd quarter valued at about $69,000. Wells Fargo & Company MN acquired a new stake in shares of PARKER DRILLING/SH PAR $ during the 2nd quarter valued at about $244,000. Nomura Asset Management Co. Ltd. acquired a new stake in shares of PARKER DRILLING/SH PAR $ during the 2nd quarter valued at about $288,000. Finally, Charles Schwab Investment Management Inc. acquired a new stake in shares of PARKER DRILLING/SH PAR $ during the 2nd quarter valued at about $394,000. Hedge funds and other institutional investors own 48.33% 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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