Imperial Capital Cuts PARKER DRILLING/SH PAR $ (NYSE:PKD) Price Target to $30.00

PARKER DRILLING/SH PAR $ (NYSE:PKD) had its price objective cut by Imperial Capital from $34.00 to $30.00 in a report released on Thursday, Briefing.com Automated Import reports. They currently have an outperform rating on the oil and gas company’s stock.

Separately, Zacks Investment Research raised PARKER DRILLING/SH PAR $ from a sell rating to a hold rating in a research note on Tuesday, September 3rd.

Shares of PKD opened at $21.96 on Thursday. PARKER DRILLING/SH PAR $ has a 12 month low of $10.67 and a 12 month high of $24.09. The stock’s 50-day moving average price is $15.43 and its two-hundred day moving average price is $14.84. The company has a quick ratio of 2.61, a current ratio of 2.76 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 business had revenue of $156.03 million during the quarter, compared to analysts’ expectations of $157.62 million. As a group, research analysts anticipate that PARKER DRILLING/SH PAR $ will post -9.13 earnings per share for the current fiscal year.

Large investors have recently made changes to their positions in the company. JPMorgan Chase & Co. acquired a new position in shares of PARKER DRILLING/SH PAR $ in the 2nd quarter valued at about $49,000. Tower Research Capital LLC TRC acquired a new position in shares of PARKER DRILLING/SH PAR $ in the 2nd quarter valued at about $69,000. Wells Fargo & Company MN acquired a new position in shares of PARKER DRILLING/SH PAR $ in the 2nd quarter valued at about $244,000. Nomura Asset Management Co. Ltd. acquired a new position in shares of PARKER DRILLING/SH PAR $ in the 2nd quarter valued at about $288,000. Finally, Charles Schwab Investment Management Inc. acquired a new position in shares of PARKER DRILLING/SH PAR $ in the 2nd quarter valued at about $394,000. 50.48% of the stock is currently owned by institutional investors.

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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