Track the companies that matter to you. It's FREE! Click one of these fan favorites to get started: Apple; Google; Ford.



Parker Drilling Shares Popped: What You Need to Know

Don't let it get away!

Keep track of the stocks that matter to you.

Help yourself with the Fool's FREE and easy new watchlist service today.

Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of Parker Drilling Company (NYSE: PKD  ) spiked 10% higher today on two analyst upgrades.

So what: Both Wells Fargo and Wellington Shields upgraded Parker Drilling from "market perform" to "outperform" this morning. The stock is not heavily followed on Wall Street, so the upgrades are a significant catalyst for the stock.

Now what: The timing seems a bit odd for analysts. The stock is already up 30% in 2011, so it looks as if they're a little late to the party. I'm a bit more cautious on this move. Parker has failed to meet earnings expectations the past two quarters, and after the long stock run-up, it looks to me as though analysts just don't want to miss any more upside. I'll watch today's move from the sidelines and wait until this analyst bump dies off before jumping in.

Interested in more info on Parker Drilling? Add it to your watchlist.

Fool contributor Travis Hoium has no position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings, or follow his CAPS picks at TMFFlushDraw.

Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 1465665, ~/Articles/ArticleHandler.aspx, 10/10/2015 9:06:02 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Travis Hoium

Travis Hoium has been writing for since July 2010 and covers the solar industry, renewable energy, and gaming stocks among other things.

Today's Market

updated 11 hours ago Sponsored by:
DOW 17,084.49 33.74 0.20%
S&P 500 2,014.89 1.46 0.07%
NASD 4,830.47 19.68 0.41%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

10/9/2015 4:01 PM
PKD $3.54 Up +0.16 +4.73%
Parker Drilling Co… CAPS Rating: *****