PARKER DRILLING/SH PAR $ (NYSE:PKD) Share Price Passes Above 200-Day Moving Average of $18.32

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PARKER DRILLING/SH PAR $ (NYSE:PKD) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred 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.

PKD has been the subject of a number of recent analyst reports. Zacks Investment Research raised PARKER DRILLING/SH PAR $ from a “hold” rating to a “buy” rating and set a $22.00 price objective for the company in a research note on Thursday, November 7th. Imperial Capital decreased 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.

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

PARKER DRILLING/SH PAR $ (NYSE:PKD) last posted its earnings results on Tuesday, November 5th. The oil and gas company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.25. The firm had revenue of $160.08 million during the quarter, compared to analysts’ expectations of $150.20 million. As a group, analysts anticipate that PARKER DRILLING/SH PAR $ will post 0.8 EPS for the current fiscal year.

In related news, major shareholder Brigade Capital Management, Lp sold 4,700 shares of the business’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $19.00, for a total value of $89,300.00. Insiders sold 92,212 shares of company stock worth $1,805,526 over the last quarter. 0.23% of the stock is owned by company insiders.

A number of hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. purchased a new stake in PARKER DRILLING/SH PAR $ during the second quarter valued at approximately $49,000. Tower Research Capital LLC TRC purchased a new stake in PARKER DRILLING/SH PAR $ during the second quarter valued at approximately $69,000. Wells Fargo & Company MN purchased a new stake in PARKER DRILLING/SH PAR $ during the second quarter valued at approximately $244,000. Nomura Asset Management Co. Ltd. purchased a new stake in PARKER DRILLING/SH PAR $ during the second quarter valued at approximately $288,000. Finally, Charles Schwab Investment Management Inc. purchased a new stake in PARKER DRILLING/SH PAR $ during the second quarter valued at approximately $394,000. Institutional investors and hedge funds own 48.33% of the company’s stock.

About PARKER DRILLING/SH PAR $ (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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