Donald Smith & CO. Inc. lessened its position in Parker Drilling (NYSE:PKD) by 5.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,492,877 shares of the oil and gas company’s stock after selling 276,632 shares during the quarter. Donald Smith & CO. Inc. owned approximately 3.23% of Parker Drilling worth $4,493,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in the stock. Alliancebernstein L.P. raised its position in Parker Drilling by 5.4% in the 2nd quarter. Alliancebernstein L.P. now owns 191,989 shares of the oil and gas company’s stock valued at $259,000 after buying an additional 9,800 shares during the last quarter. Voya Investment Management LLC raised its position in Parker Drilling by 24.5% in 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 buying an additional 15,655 shares during the last quarter. Teachers Advisors LLC raised its position in Parker Drilling by 10.0% in the 2nd quarter. Teachers Advisors LLC now owns 376,394 shares of the oil and gas company’s stock valued at $508,000 after buying an additional 34,277 shares during the last quarter. California Public Employees Retirement System raised its position in Parker Drilling by 7.1% in the 3rd quarter. California Public Employees Retirement System now owns 798,762 shares of the oil and gas company’s stock valued at $879,000 after buying an additional 52,962 shares during the last quarter. Finally, First Heartland Consultants Inc. raised its position in Parker Drilling by 12.7% in the 3rd quarter. First Heartland Consultants Inc. now owns 554,100 shares of the oil and gas company’s stock valued at $610,000 after buying an additional 62,600 shares during the last quarter. 65.26% of the stock is currently owned by institutional investors and hedge funds.
Separately, Zacks Investment Research lowered Parker Drilling from a “hold” rating to a “sell” rating in a research report on Thursday, March 8th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. Parker Drilling presently has a consensus rating of “Hold” and a consensus target price of $1.25.
Shares of Parker Drilling (NYSE PKD) traded down $0.04 during trading on Wednesday, reaching $0.77. The company had a trading volume of 2,431,217 shares, compared to its average volume of 882,692. Parker Drilling has a 1-year low of $0.76 and a 1-year high of $1.85. The firm has a market cap of $114.70, a price-to-earnings ratio of -0.88 and a beta of 1.58. The company has a debt-to-equity ratio of 1.96, a quick ratio of 2.76 and a current ratio of 3.07.
Parker Drilling (NYSE:PKD) last posted its quarterly earnings results on Wednesday, February 14th. The oil and gas company reported ($0.16) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.17) by $0.01. The firm had revenue of $116.30 million for the quarter, compared to analyst estimates of $112.22 million. Parker Drilling had a negative return on equity of 33.28% and a negative net margin of 26.82%. The business’s quarterly revenue was up 23.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.39) EPS. analysts anticipate that Parker Drilling will post -0.61 EPS for the current fiscal year.
Parker Drilling Company Profile
Parker Drilling Company (Parker Drilling) is a provider of contract drilling, and drilling-related services and rental tools and services. The Company’s business consists of two business lines: drilling services and rental tools services. Its Rental Tools Services business includes U.S. Rental Tools and International Rental Tools segments, and its Drilling Services business includes its U.S.
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