Parker Drilling (NYSE:PKD) has been a public company for quite some time, but the company hasn't had what you'd call a consistent record of performance. Energy services, and drilling particular, has always been a volatile, cyclical business, but I would estimate that the company has only earned its cost of capital once or twice over the last decade. Maybe it's not altogether surprising then that the stock has stayed pretty much stuck in a band between $4 and $6 over the past four years.
These shares dipped slightly below that range in April of this year, only to exceed it slightly in July and here again more recently, but I believe these shares may yet be undervalued. Demand...
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