Parker Drilling (NYSE:PKD) was down 1.2% during trading on Monday . The company traded as low as $0.81 and last traded at $0.81. Approximately 447,124 shares were traded during mid-day trading, a decline of 48% from the average daily 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 report on Thursday. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target 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 stock has a market capitalization of $114.20, a price-to-earnings ratio of -0.91 and a beta of 1.58.
Parker Drilling (NYSE:PKD) last posted its quarterly earnings results on Wednesday, February 14th. The oil and gas company reported ($0.16) EPS for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.01. The business had revenue of $116.30 million during the quarter, compared to analysts’ expectations of $112.22 million. Parker Drilling had a negative net margin of 26.82% and a negative return on equity of 33.28%. The business’s quarterly revenue was up 23.7% on a year-over-year basis. During the same period last year, the company posted ($0.39) earnings per share. analysts predict that Parker Drilling will post -0.61 earnings per share for the current fiscal year.
Large investors have recently bought and sold shares of the business. Voya Investment Management LLC lifted its stake in shares of Parker Drilling by 24.5% in the second quarter. Voya Investment Management LLC now owns 79,644 shares of the oil and gas company’s stock valued at $108,000 after buying an additional 15,655 shares in the last quarter. Millennium Management LLC bought a new position in shares of Parker Drilling in the fourth quarter valued at $118,000. Two Sigma Investments LP lifted its stake in shares of 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 valued at $139,000 after buying an additional 87,425 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. bought a new position in shares of Parker Drilling in the third quarter valued at $203,000. Finally, Goldman Sachs Group Inc. lifted its stake in shares of 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 buying an additional 69,715 shares in the last quarter. Institutional investors and hedge funds own 65.26% of the company’s stock.
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Parker Drilling Company Profile
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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