Parker Drilling (NYSE:PKD) fell 10.3% during mid-day trading on Monday . The company traded as low as $0.51 and last traded at $0.52. 2,530,612 shares changed hands during mid-day trading, an increase of 161% from the average session volume of 970,711 shares. The stock had previously closed at $0.58.
Separately, Zacks Investment Research upgraded shares of Parker Drilling from a “sell” rating to a “hold” rating in a research report on Tuesday, May 8th.
The company has a current ratio of 3.14, a quick ratio of 2.81 and a debt-to-equity ratio of 2.17. The stock has a market capitalization of $80.50 million, a price-to-earnings ratio of -0.62 and a beta of 1.82.
Parker Drilling (NYSE:PKD) last posted its quarterly earnings data on Tuesday, May 1st. The oil and gas company reported ($0.21) earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.21). The company had revenue of $109.68 million for the quarter, compared to analysts’ expectations of $109.80 million. Parker Drilling had a negative net margin of 23.72% and a negative return on equity of 32.58%. equities analysts forecast that Parker Drilling will post -0.73 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Saba Capital Management L.P. grew its position in Parker Drilling by 171.1% during the first quarter. Saba Capital Management L.P. now owns 9,015,494 shares of the oil and gas company’s stock valued at $5,725,000 after acquiring an additional 5,689,405 shares during the last quarter. Cubist Systematic Strategies LLC grew its position in Parker Drilling by 67.7% during the first quarter. Cubist Systematic Strategies LLC now owns 218,184 shares of the oil and gas company’s stock valued at $139,000 after acquiring an additional 88,110 shares during the last quarter. Mutual Advisors LLC bought a new position in Parker Drilling during the first quarter valued at approximately $421,000. Millennium Management LLC bought a new position in Parker Drilling during the fourth quarter valued at approximately $118,000. Finally, Two Sigma Investments LP grew its position in Parker Drilling by 170.2% during the fourth quarter. Two Sigma Investments LP now owns 138,791 shares of the oil and gas company’s stock valued at $139,000 after acquiring an additional 87,425 shares during the last quarter. Institutional investors and hedge funds own 67.14% of the company’s stock.
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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