Worth Watching: Is Buying Parker Drilling Company Here a Winning Strategy?

Worth Watching: Is Buying Parker Drilling Company Here a Winning Strategy?

The stock of Parker Drilling Company (NYSE:PKD) is a huge mover today! About 181,024 shares traded hands. Parker Drilling Company (NYSE:PKD) has risen 26.32% since March 2, 2016 and is uptrending. It has outperformed by 18.06% the S&P500.
The move comes after 6 months positive chart setup for the $276.72M company. It was reported on Oct, 5 by Barchart.com. We have $3.76 PT which if reached, will make NYSE:PKD worth $185.40M more.

Analysts await Parker Drilling Company (NYSE:PKD) to report earnings on November, 1. They expect $-0.36 earnings per share, down 260.00% or $0.26 from last year’s $-0.1 per share. After $-0.32 actual earnings per share reported by Parker Drilling Company for the previous quarter, Wall Street now forecasts 12.50% negative EPS growth.

Parker Drilling Company (NYSE:PKD) Ratings Coverage

Out of 5 analysts covering Parker Drilling (NYSE:PKD), 3 rate it a “Buy”, 1 “Sell”, while 1 “Hold”. This means 60% are positive. Parker Drilling has been the topic of 6 analyst reports since August 7, 2015 according to StockzIntelligence Inc. As per Wednesday, September 9, the company rating was downgraded by Tudor Pickering. TheStreet downgraded the stock to “Sell” rating in Friday, August 7 report. Edward Jones upgraded Parker Drilling Company (NYSE:PKD) on Wednesday, August 31 to “Buy” rating. Sidoti upgraded Parker Drilling Company (NYSE:PKD) on Wednesday, September 23 to “Buy” rating.

According to Zacks Investment Research, “Parker Drilling Company provides high-performance contract drilling solutions, rental tools and project management services to the worldwide energy industry.”

Insitutional Activity: The institutional sentiment decreased to 0.79 in Q2 2016. Its down 0.09, from 0.88 in 2016Q1. The ratio worsened, as 12 funds sold all Parker Drilling Company shares owned while 40 reduced positions. 13 funds bought stakes while 28 increased positions. They now own 80.09 million shares or 2.27% less from 81.96 million shares in 2016Q1.
Credit Suisse Ag has 219,864 shares for 0% of their US portfolio. Ronald Blue Com Limited Liability Company last reported 0% of its portfolio in the stock. Grantham Mayo Van Otterloo And Ltd Limited Liability Company, a Massachusetts-based fund reported 12,900 shares. Pnc Financial Svcs Inc accumulated 760 shares or 0% of the stock. Tower Research (Trc) accumulated 0% or 100 shares. Manufacturers Life Insurance Comm The has invested 0% of its portfolio in Parker Drilling Company (NYSE:PKD). Bnp Paribas Arbitrage last reported 0% of its portfolio in the stock. Prudential Fincl Incorporated has 10,117 shares for 0% of their US portfolio. Mizuho Trust Commerce Ltd holds 0% or 668,173 shares in its portfolio. Pacific Heights Asset Mgmt Ltd Llc owns 2.60M shares or 0.54% of their US portfolio. Engineers Gate Manager Lp accumulated 52,337 shares or 0.01% of the stock. Dimensional Fund Advsr L P holds 0.01% of its portfolio in Parker Drilling Company (NYSE:PKD) for 10.38M shares. Northern Tru has 0% invested in the company for 2.06 million shares. First Trust Advsr Limited Partnership owns 63,990 shares or 0% of their US portfolio. First Heartland Consultants Incorporated last reported 0.08% of its portfolio in the stock.

Insider Transactions: Since June 3, 2016, the stock had 1 buying transaction, and 1 insider sale for $159,908 net activity. 6,400 shares were sold by King Gary R, worth $14,092 on Friday, June 3. Shares for $174,000 were bought by Rich Gary G.

More notable recent Parker Drilling Company (NYSE:PKD) news were published by: Prnewswire.com which released: “Parker Drilling Reports 2016 Second Quarter Results” on August 02, 2016, also Moodys.com with their article: “Moody’s downgrades Parker Drilling to B3, negative outlook” published on March 03, 2016, Seekingalpha.com published: “Parker Drilling Company’s Capex Flexibility And Robust Recovery Rate Warrant …” on August 10, 2016. More interesting news about Parker Drilling Company (NYSE:PKD) were released by: Prnewswire.com and their article: “In Memoriam: Robert L. Parker, Sr.” published on July 11, 2016 as well as Seekingalpha.com‘s news article titled: “Parker Drilling – All You Have To Know About The Q2 2016 Results” with publication date: August 07, 2016.

PKD Company Profile

Parker Drilling Company (Parker Drilling), incorporated on August 4, 1970, is a well-known provider of contract drilling, and drilling-related services and rental tools. The Company’s business consists of two business lines: drilling services and rental tools services. The Company’s Rental Tools Services business includes its Rental Tools segment, and its Drilling Services business includes its U.S. (Lower 48) Drilling, and International & Alaska Drilling divisions. The Firm has activities in over 20 countries.

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