Shares of Parker Drilling (NYSE:PKD) were down 2.3% on Thursday . The stock traded as low as $0.41 and last traded at $0.42. Approximately 26,000 shares were traded during trading, a decline of 99% from the average daily volume of 2,172,783 shares. The stock had previously closed at $0.43.
Several equities analysts recently commented on the company. Zacks Investment Research upgraded Parker Drilling from a “sell” rating to a “hold” rating in a research report on Tuesday, May 8th. ValuEngine upgraded Parker Drilling from a “sell” rating to a “hold” rating in a research report on Saturday, June 2nd.
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The company has a debt-to-equity ratio of 2.17, a current ratio of 3.14 and a quick ratio of 2.81. The stock has a market capitalization of $64.69 million, a P/E ratio of -0.50 and a beta of 1.82.
Parker Drilling (NYSE:PKD) last posted its earnings results on Tuesday, May 1st. The oil and gas company reported ($0.21) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.21). Parker Drilling had a negative return on equity of 32.58% and a negative net margin of 23.72%. The business had revenue of $109.68 million during the quarter, compared to the consensus estimate of $109.80 million. equities analysts forecast that Parker Drilling will post -0.73 earnings per share for the current year.
In other Parker Drilling news, major shareholder Saba Capital Management, L.P. acquired 645,810 shares of the business’s stock in a transaction on Friday, June 22nd. The stock was purchased at an average price of $0.34 per share, for a total transaction of $219,575.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last quarter, insiders acquired 1,596,054 shares of company stock valued at $537,609. Corporate insiders own 3.26% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Millennium Management LLC acquired a new stake in shares of Parker Drilling in the 4th quarter valued at $118,000. Two Sigma Investments LP grew its stake in shares of 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 worth $139,000 after purchasing an additional 87,425 shares during the period. Goldman Sachs Group Inc. grew its stake in Parker Drilling by 51.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 204,936 shares of the oil and gas company’s stock valued at $205,000 after acquiring an additional 69,715 shares during the period. Cubist Systematic Strategies LLC grew its stake in Parker Drilling by 67.7% in 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 period. Finally, Deutsche Bank AG grew its stake in Parker Drilling by 140.5% in the fourth quarter. Deutsche Bank AG now owns 300,994 shares of the oil and gas company’s stock valued at $300,000 after acquiring an additional 175,841 shares during the period. Hedge funds and other institutional investors own 67.13% of the company’s stock.
Parker Drilling Company 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.