Zacks Investment Research upgraded shares of PARKER DRILLING/SH PAR $ (NYSE:PKD) from a hold rating to a buy rating in a report published on Thursday morning, Zacks.com reports. They currently have $22.00 target price on the oil and gas company’s stock.
According to Zacks, “Parker Drilling Company provides drilling services and rental tools to the energy industry. The Company’s Drilling Services business serves operators through the use of Parker-owned and customer-owned rig fleets, specializing in remote and harsh environment regions. Its Rental Tools Services business supplies premium equipment and well services to operators on land and offshore markets. Parker Drilling Company is based in Houston, United States. “
Separately, Imperial Capital cut their target price on PARKER DRILLING/SH PAR $ from $34.00 to $30.00 and set an outperform rating on the stock in a research report on Thursday, September 12th.
PARKER DRILLING/SH PAR $ (NYSE:PKD) last announced its earnings results on Tuesday, November 5th. The oil and gas company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.02 by $0.25. The business had revenue of $160.08 million for the quarter, compared to the consensus estimate of $150.20 million. On average, analysts expect that PARKER DRILLING/SH PAR $ will post 0.51 EPS for the current year.
Several institutional investors have recently made changes to their positions in PKD. Wells Fargo & Company MN bought a new stake in shares of PARKER DRILLING/SH PAR $ during the 2nd quarter valued at about $244,000. JPMorgan Chase & Co. bought a new stake in shares of PARKER DRILLING/SH PAR $ during the 2nd quarter valued at about $49,000. Charles Schwab Investment Management Inc. bought a new stake in shares of PARKER DRILLING/SH PAR $ during the 2nd quarter valued at about $394,000. Bank of New York Mellon Corp bought a new stake in shares of PARKER DRILLING/SH PAR $ during the 2nd quarter valued at about $534,000. Finally, RBF Capital LLC bought a new stake in shares of PARKER DRILLING/SH PAR $ during the 2nd quarter valued at about $2,238,000. Institutional investors own 50.48% of the company’s stock.
PARKER DRILLING/SH PAR $ Company Profile
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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