Parker Drilling Company (PKD) Sets 1 Year Low; Strong Momentum for Sellers

March 18, 2018 - By Adrian Erickson

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.
Renaissance Ltd Liability Corp owns 1.64 million shares. Thrivent Fincl For Lutherans owns 18,537 shares. Group One Trading Ltd Partnership has invested 0% of its portfolio in Parker Drilling Company (NYSE:PKD). Virginia Retirement Systems Et Al holds 0% or 16,217 shares in its portfolio. Tiaa Cref Inv Ltd holds 517,950 shares. Jpmorgan Chase reported 0% stake. Public Employees Retirement Association Of Colorado reported 70,829 shares stake. Alliancebernstein Ltd Partnership has 0% invested in Parker Drilling Company (NYSE:PKD) for 187,289 shares. Advisory Svcs Networks Lc stated it has 0% in Parker Drilling Company (NYSE:PKD). 17,918 were reported by Aperio Group Inc Ltd Limited Liability Company. Price T Rowe Associates Md invested in 0% or 77,800 shares. Manufacturers Life Insur The owns 137,247 shares. The Switzerland-based Zurcher Kantonalbank (Zurich Cantonalbank) has invested 0% in Parker Drilling Company (NYSE:PKD). Donald Smith & has invested 0.13% in Parker Drilling Company (NYSE:PKD). National Bank & Trust Of Montreal Can has invested 0% in Parker Drilling Company (NYSE:PKD).

The stock of Parker Drilling Company (NYSE:PKD) hit a new 52-week low and has $0.74 target or 6.00 % below today’s $0.78 share price. The 8 months bearish chart indicates high risk for the $108.99M company. The 1-year low was reported on Mar, 18 by If the $0.74 price target is reached, the company will be worth $6.54 million 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 increased 3.11% or $0.0237 during the last trading session, reaching $0.7846. About 1.49M shares traded or 65.41% up from the average. Parker Drilling Company (NYSE:PKD) has declined 34.68% since March 18, 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. As per Wednesday, August 31, the company rating was upgraded by Edward Jones. The rating was initiated by Tudor Pickering with “Hold” on Friday, March 24. On Friday, August 7 the stock rating was downgraded by TheStreet to “Sell”. The stock of Parker Drilling Company (NYSE:PKD) earned “Hold” rating by Tudor Pickering on Wednesday, September 9. The stock has “Buy” rating by Sidoti on Wednesday, September 23. DA Davidson initiated Parker Drilling Company (NYSE:PKD) rating on Thursday, October 6. DA Davidson has “Buy” rating and $3.50 target.

More news for Parker Drilling Company (NYSE:PKD) were recently published by:, which released: “Parker Drilling Announces March 2018 Mandatory Convertible Preferred Stock …” on February 28, 2018.‘s article titled: “Parker Drilling Company Receives Continued Listing Standard Notice from NYSE” and published on March 15, 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 $108.99 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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