Parker Drilling (PKD) Hits New 1-Year Low at $1.92

Parker Drilling (NYSE:PKD) shares hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $1.92 and last traded at $1.98, with a volume of 2800 shares changing hands. The stock had previously closed at $2.18.

A number of research analysts have issued reports on PKD shares. ValuEngine raised shares of Parker Drilling from a “hold” rating to a “buy” rating in a report on Saturday, July 28th. Zacks Investment Research raised shares of Parker Drilling from a “sell” rating to a “hold” rating in a report on Tuesday, July 17th.

The company has a debt-to-equity ratio of 3.41, a quick ratio of 2.45 and a current ratio of 2.62.

Parker Drilling (NYSE:PKD) last issued its earnings results on Monday, November 5th. The oil and gas company reported ($2.99) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($3.19) by $0.20. Parker Drilling had a negative net margin of 32.33% and a negative return on equity of 41.39%. The company had revenue of $123.40 million during the quarter.

A number of institutional investors have recently modified their holdings of the business. Millennium Management LLC purchased a new position in Parker Drilling in the second quarter valued at about $605,000. Saba Capital Management L.P. grew its position in shares of Parker Drilling by 81.0% in the second quarter. Saba Capital Management L.P. now owns 16,313,556 shares of the oil and gas company’s stock valued at $6,199,000 after purchasing an additional 7,298,062 shares during the last quarter. Paloma Partners Management Co acquired a new stake in shares of Parker Drilling in the second quarter valued at approximately $249,000. Cubist Systematic Strategies LLC grew its position in shares of Parker Drilling by 29.2% in the second quarter. Cubist Systematic Strategies LLC now owns 281,897 shares of the oil and gas company’s stock valued at $107,000 after purchasing an additional 63,713 shares during the last quarter. Finally, Renaissance Technologies LLC grew its position 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 valued at $1,018,000 after purchasing an additional 288,300 shares during the last quarter.

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About Parker Drilling (NYSE:PKD)

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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