Parker Drilling (NYSE:PKD) has been assigned a consensus rating of “Hold” from the five ratings firms that are currently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and one has issued a buy recommendation on the company.

Separately, Zacks Investment Research lowered Parker Drilling from a “hold” rating to a “sell” rating in a research note on Thursday, March 8th.

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Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Voya Investment Management LLC boosted its holdings in shares of Parker Drilling by 24.5% during the 2nd quarter. Voya Investment Management LLC now owns 79,644 shares of the oil and gas company’s stock valued at $108,000 after purchasing an additional 15,655 shares during the last quarter. Millennium Management LLC bought a new position in shares of Parker Drilling during the 4th quarter valued at about $118,000. Two Sigma Investments LP boosted its holdings in shares of Parker Drilling by 170.2% during the 4th quarter. Two Sigma Investments LP now owns 138,791 shares of the oil and gas company’s stock valued at $139,000 after purchasing an additional 87,425 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. bought a new position in shares of Parker Drilling during the 3rd quarter valued at about $203,000. Finally, Alliancebernstein L.P. boosted its holdings in shares of Parker Drilling by 5.4% during the 2nd quarter. Alliancebernstein L.P. now owns 191,989 shares of the oil and gas company’s stock valued at $259,000 after purchasing an additional 9,800 shares during the last quarter. 65.26% of the stock is owned by institutional investors and hedge funds.

Shares of Parker Drilling (PKD) traded up $0.02 during mid-day trading on Monday, reaching $0.79. The company’s stock had a trading volume of 1,490,000 shares, compared to its average volume of 968,259. Parker Drilling has a 1-year low of $0.75 and a 1-year high of $1.85. The company has a debt-to-equity ratio of 1.96, a current ratio of 3.07 and a quick ratio of 2.76. The stock has a market cap of $108.98, a price-to-earnings ratio of -0.87 and a beta of 1.58.

Parker Drilling (NYSE:PKD) last issued its quarterly earnings results on Wednesday, February 14th. The oil and gas company reported ($0.16) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.17) by $0.01. Parker Drilling had a negative return on equity of 33.28% and a negative net margin of 26.82%. The business had revenue of $116.30 million during the quarter, compared to analyst estimates of $112.22 million. During the same quarter in the prior year, the business posted ($0.39) EPS. Parker Drilling’s revenue for the quarter was up 23.7% compared to the same quarter last year. equities analysts anticipate that Parker Drilling will post -0.61 earnings per share for the current fiscal year.

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About Parker Drilling

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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