PARKER DRILLING/SH PAR $ (NYSE:PKD) Stock Price Down 2.3%

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PARKER DRILLING/SH PAR $ (NYSE:PKD) traded down 2.3% during mid-day trading on Monday . The company traded as low as $19.94 and last traded at $20.19. 1,330 shares changed hands during mid-day trading, a decline of 97% from the average session volume of 38,034 shares. The stock had previously closed at $20.66.

Separately, Imperial Capital raised their price objective on PARKER DRILLING/SH PAR $ from $25.00 to $34.00 and gave the company an “outperform” rating in a research note on Thursday, May 23rd.

The stock’s 50 day moving average is $20.15. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.53 and a quick ratio of 2.40.

PARKER DRILLING/SH PAR $ (NYSE:PKD) last issued its quarterly earnings data on Tuesday, May 7th. The oil and gas company reported ($9.63) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.55) by ($9.08). The business had revenue of $157.40 million during the quarter, compared to analysts’ expectations of $133.66 million. As a group, research analysts forecast that PARKER DRILLING/SH PAR $ will post -7.81 earnings per share for the current year.

In other PARKER DRILLING/SH PAR $ news, major shareholder Highbridge Capital Management sold 48,251 shares of the stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $16.06, for a total transaction of $774,911.06. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Skyway Master Fund L.P. Varde bought 124,000 shares of PARKER DRILLING/SH PAR $ stock in a transaction on Wednesday, May 8th. The shares were purchased at an average cost of $20.10 per share, for a total transaction of $2,492,400.00. The disclosure for this purchase can be found here.

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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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