Cubist Systematic Strategies LLC grew its stake in Parker Drilling (NYSE:PKD) by 29.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 281,897 shares of the oil and gas company’s stock after buying an additional 63,713 shares during the period. Cubist Systematic Strategies LLC’s holdings in Parker Drilling were worth $107,000 as of its most recent SEC filing.
Other large investors also recently made changes to their positions in the company. BlueMountain Capital Management LLC bought a new position in shares of Parker Drilling in the second quarter worth about $1,088,000. LMR Partners LLP increased its stake in shares of Parker Drilling by 2,948.0% in the second quarter. LMR Partners LLP now owns 441,100 shares of the oil and gas company’s stock worth $168,000 after purchasing an additional 426,628 shares during the period. Finally, Renaissance Technologies LLC increased its stake in shares of Parker Drilling by 12.1% in the second quarter. Renaissance Technologies LLC now owns 2,678,100 shares of the oil and gas company’s stock worth $1,018,000 after purchasing an additional 288,300 shares during the period.
Parker Drilling stock opened at $3.08 on Friday. The company has a debt-to-equity ratio of 2.40, a quick ratio of 2.45 and a current ratio of 2.75. The stock has a market capitalization of $27.77 million, a PE ratio of -0.25 and a beta of 1.55. Parker Drilling has a 52 week low of $2.93 and a 52 week high of $21.60.
Parker Drilling (NYSE:PKD) last posted its quarterly earnings data on Wednesday, August 1st. The oil and gas company reported ($2.56) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($2.37). The business had revenue of $118.60 million during the quarter. Parker Drilling had a negative return on equity of 33.04% and a negative net margin of 21.75%.
A number of research firms have recently commented on PKD. ValuEngine upgraded Parker Drilling from a “sell” rating to a “hold” rating in a research note on Wednesday, August 29th. Zacks Investment Research lowered Parker Drilling from a “hold” rating to a “sell” rating in a research note on Tuesday, June 19th.
Parker Drilling Profile
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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