Parker Drilling (PKD) Stock Price Down 1.2%

Parker Drilling (NYSE:PKD)’s share price traded down 1.2% during mid-day trading on Monday . The stock traded as low as $0.81 and last traded at $0.81. 447,124 shares were traded during mid-day trading, a decline of 48% from the average session volume of 854,545 shares. The stock had previously closed at $0.82.

Separately, Zacks Investment Research cut shares of Parker Drilling from a “hold” rating to a “sell” rating in a research report on Thursday. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $1.25.

The company has a debt-to-equity ratio of 1.96, a current ratio of 3.07 and a quick ratio of 2.76. The firm has a market cap of $114.20, a PE ratio of -0.91 and a beta of 1.58.

Parker Drilling (NYSE:PKD) last posted its quarterly earnings data 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. Parker Drilling had a negative net margin of 26.82% and a negative return on equity of 33.28%. The company had revenue of $116.30 million during the quarter, compared to analysts’ expectations of $112.22 million. During the same period in the prior year, the company posted ($0.39) earnings per share. Parker Drilling’s revenue for the quarter was up 23.7% compared to the same quarter last year. sell-side analysts predict that Parker Drilling will post -0.61 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Millennium Management LLC acquired a new stake in shares of Parker Drilling during the fourth quarter worth $118,000. Two Sigma Investments LP grew its holdings in Parker Drilling by 170.2% in 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. Ellington Management Group LLC acquired a new stake in Parker Drilling in the fourth quarter worth $401,000. Goldman Sachs Group Inc. grew its holdings 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 worth $205,000 after purchasing an additional 69,715 shares during the period. Finally, Brigade Capital Management LP grew its holdings in Parker Drilling by 14.5% in the fourth quarter. Brigade Capital Management LP now owns 11,465,000 shares of the oil and gas company’s stock worth $11,465,000 after purchasing an additional 1,455,000 shares during the period. Institutional investors own 65.26% of the company’s stock.

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About Parker Drilling

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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