Parker Drilling (PKD) Stock Price Up 5.2%

Shares of Parker Drilling (NYSE:PKD) rose 5.2% on Tuesday . The company traded as high as $0.62 and last traded at $0.61. Approximately 854,581 shares traded hands during trading, a decline of 8% from the average daily volume of 926,219 shares. The stock had previously closed at $0.58.

Separately, Zacks Investment Research cut shares of Parker Drilling from a “hold” rating to a “sell” rating in a report on Thursday, March 8th.

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The stock has a market capitalization of $82.08, a P/E ratio of -0.72 and a beta of 1.82. The company has a current ratio of 3.07, a quick ratio of 2.76 and a debt-to-equity ratio of 1.96.

Parker Drilling (NYSE:PKD) last announced its earnings results on Wednesday, February 14th. The oil and gas company reported ($0.16) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.17) by $0.01. The firm had revenue of $116.30 million during the quarter, compared to analyst estimates of $112.22 million. Parker Drilling had a negative net margin of 26.82% and a negative return on equity of 33.28%. Parker Drilling’s revenue was up 23.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.39) EPS. sell-side analysts forecast that Parker Drilling will post -0.61 earnings per share for the current fiscal year.

Several large investors have recently bought and sold shares of PKD. Millennium Management LLC bought a new position in shares of Parker Drilling during the 4th quarter valued at about $118,000. Two Sigma Investments LP boosted its position in shares of Parker Drilling by 170.2% during the 4th quarter. Two Sigma Investments LP now owns 138,791 shares of the oil and gas company’s stock valued at $139,000 after purchasing an additional 87,425 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Parker Drilling by 51.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 204,936 shares of the oil and gas company’s stock valued at $205,000 after purchasing an additional 69,715 shares in the last quarter. Deutsche Bank AG boosted its position in shares of Parker Drilling by 140.5% during the 4th quarter. Deutsche Bank AG now owns 300,994 shares of the oil and gas company’s stock valued at $300,000 after purchasing an additional 175,841 shares in the last quarter. Finally, Ellington Management Group LLC bought a new position in shares of Parker Drilling during the 4th quarter valued at about $401,000. Institutional investors own 65.43% of the company’s stock.

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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.

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