Parker Drilling (PKD) Stake Increased by Cubist Systematic Strategies LLC

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Cubist Systematic Strategies LLC lifted its holdings in Parker Drilling (NYSE:PKD) by 29.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm 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 owned about 3.02% of Parker Drilling worth $107,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of PKD. BlueMountain Capital Management LLC acquired a new stake in Parker Drilling during the second quarter valued at $1,088,000. LMR Partners LLP boosted its position in Parker Drilling by 2,948.0% during the second quarter. LMR Partners LLP now owns 441,100 shares of the oil and gas company’s stock valued at $168,000 after purchasing an additional 426,628 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its position in Parker Drilling by 12.1% during 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.

A number of research firms recently issued reports on PKD. ValuEngine raised Parker Drilling from a “sell” rating to a “hold” rating in a research report on Wednesday, August 29th. Zacks Investment Research cut Parker Drilling from a “hold” rating to a “sell” rating in a research report on Tuesday, June 19th.

PKD opened at $3.08 on Friday. The firm has a market cap of $27.77 million, a P/E ratio of -0.25 and a beta of 1.55. Parker Drilling has a 1 year low of $2.93 and a 1 year high of $21.60. The company has a quick ratio of 2.45, a current ratio of 2.75 and a debt-to-equity ratio of 2.40.

Parker Drilling (NYSE:PKD) last released its quarterly earnings data on Wednesday, August 1st. The oil and gas company reported ($2.56) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($2.37). The firm had revenue of $118.60 million for the quarter. Parker Drilling had a negative net margin of 21.75% and a negative return on equity of 33.04%.

About Parker Drilling

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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Institutional Ownership by Quarter for Parker Drilling (NYSE:PKD)

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