What’s Ahead for Parker Drilling Company (PKD) After Touching Yearly Low?

March 14, 2018 - By Vivian Currie

Investors sentiment decreased to 0.95 in 2017 Q3. Its down 0.27, from 1.22 in 2017Q2. It dropped, as 13 investors sold Parker Drilling Company shares while 29 reduced holdings. 14 funds opened positions while 26 raised stakes. 87.40 million shares or 3.25% less from 90.34 million shares in 2017Q2 were reported.
Los Angeles Capital Management And Equity Research Inc holds 0% of its portfolio in Parker Drilling Company (NYSE:PKD) for 184,300 shares. Fmr Ltd Liability stated it has 7.77 million shares or 0% of all its holdings. Zurcher Kantonalbank (Zurich Cantonalbank) holds 0% or 4,343 shares in its portfolio. Geode Cap Mngmt Ltd Limited Liability Company stated it has 0% of its portfolio in Parker Drilling Company (NYSE:PKD). Thrivent For Lutherans holds 18,537 shares or 0% of its portfolio. State Board Of Administration Of Florida Retirement Sys reported 124,081 shares. The Germany-based Deutsche Bankshares Ag has invested 0% in Parker Drilling Company (NYSE:PKD). Retail Bank Of America De has invested 0% in Parker Drilling Company (NYSE:PKD). Invesco Limited reported 739,482 shares. Royal Bankshares Of Canada owns 0% invested in Parker Drilling Company (NYSE:PKD) for 13,448 shares. Voya Inv Mgmt Limited Liability stated it has 0% of its portfolio in Parker Drilling Company (NYSE:PKD). Tiaa Cref Investment Management Ltd Liability Corp accumulated 0% or 517,950 shares. Amalgamated Comml Bank has invested 0% in Parker Drilling Company (NYSE:PKD). 1.64 million were reported by Renaissance Techs Ltd Liability Com. State Street Corporation reported 2.31 million shares stake.

The stock of Parker Drilling Company (NYSE:PKD) hit a new 52-week low and has $0.75 target or 4.00 % below today’s $0.78 share price. The 6 months bearish chart indicates high risk for the $108.75M company. The 1-year low was reported on Mar, 14 by Barchart.com. If the $0.75 price target is reached, the company will be worth $4.35M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock.

The stock decreased 3.14% or $0.025 during the last trading session, reaching $0.783. About 2.05 million shares traded or 132.73% up from the average. Parker Drilling Company (NYSE:PKD) has declined 34.68% since March 14, 2017 and is downtrending. It has underperformed by 51.38% the S&P500.

Analysts await Parker Drilling Company (NYSE:PKD) to report earnings on May, 1. They expect $-0.21 EPS, up 32.26 % or $0.10 from last year’s $-0.31 per share. After $-0.16 actual EPS reported by Parker Drilling Company for the previous quarter, Wall Street now forecasts 31.25 % negative EPS growth.

Parker Drilling Company (NYSE:PKD) Ratings Coverage

Among 6 analysts covering Parker Drilling (NYSE:PKD), 4 have Buy rating, 1 Sell and 1 Hold. Therefore 67% are positive. Parker Drilling had 8 analyst reports since August 7, 2015 according to SRatingsIntel. Edward Jones upgraded Parker Drilling Company (NYSE:PKD) on Wednesday, August 31 to “Buy” rating. The rating was initiated by Tudor Pickering on Friday, March 24 with “Hold”. As per Friday, August 7, the company rating was downgraded by TheStreet. The firm has “Buy” rating given on Wednesday, September 23 by Sidoti. The firm has “Hold” rating given on Wednesday, September 9 by Tudor Pickering. DA Davidson initiated the stock with “Buy” rating in Thursday, October 6 report.

More news for Parker Drilling Company (NYSE:PKD) were recently published by: Prnewswire.com, which released: “Parker Drilling Reports 2017 Fourth Quarter Results and Amendment to Credit …” on February 14, 2018. Prnewswire.com‘s article titled: “Parker Drilling Announces March 2018 Mandatory Convertible Preferred Stock …” and published on February 28, 2018 is yet another important article.

Parker Drilling Company Inc., together with its subsidiaries, provides contract drilling and drilling-related services, and rental tools to the energy industry in the United States, Russia, Europe, the Middle East, Africa, Asia, Latin America, Canada, and Internationally. The company has market cap of $108.75 million. It operates through two business lines, Drilling Services and Rental Tools Services. It currently has negative earnings. The Drilling Services business provides project related services, such as engineering, procurement, project management, and commissioning of customer-owned drilling facility projects; drill wells and manages the logistical and technological challenges of operating in remote, harsh, and ecologically sensitive areas; 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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