Parker Drilling Company (PKD) Stake Held by LSV Asset Management
LSV Asset Management continued to hold its position in shares of Parker Drilling Company (NYSE:PKD) during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 2,830,100 shares of the oil and gas company’s stock at the close of the second quarter. LSV Asset Management owned 2.05% of Parker Drilling worth $3,820,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in PKD. FMR LLC boosted its holdings in Parker Drilling by 128.4% during the first quarter. FMR LLC now owns 7,153,956 shares of the oil and gas company’s stock worth $12,519,000 after purchasing an additional 4,021,846 shares during the last quarter. Donald Smith & CO. Inc. boosted its holdings in Parker Drilling by 36.6% during the first quarter. Donald Smith & CO. Inc. now owns 4,878,302 shares of the oil and gas company’s stock worth $8,537,000 after purchasing an additional 1,307,257 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Parker Drilling by 20.5% during the first quarter. JPMorgan Chase & Co. now owns 3,211,560 shares of the oil and gas company’s stock worth $5,620,000 after purchasing an additional 546,640 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Parker Drilling by 19.0% during the first quarter. Renaissance Technologies LLC now owns 1,539,000 shares of the oil and gas company’s stock worth $2,693,000 after purchasing an additional 245,700 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Parker Drilling by 3.6% during the first quarter. Vanguard Group Inc. now owns 5,726,979 shares of the oil and gas company’s stock worth $10,023,000 after purchasing an additional 197,586 shares during the last quarter. Institutional investors and hedge funds own 65.50% of the company’s stock.
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Shares of Parker Drilling Company (PKD) opened at 1.20 on Tuesday. Parker Drilling Company has a 52-week low of $1.10 and a 52-week high of $2.90. The company’s market cap is $165.40 million. The stock has a 50 day moving average of $1.18 and a 200 day moving average of $1.41.
Parker Drilling (NYSE:PKD) last posted its quarterly earnings data on Wednesday, August 2nd. The oil and gas company reported ($0.23) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.04. The company had revenue of $109.60 million for the quarter, compared to the consensus estimate of $112.25 million. Parker Drilling had a negative net margin of 41.31% and a negative return on equity of 43.64%. The firm’s revenue was up 4.1% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.32) earnings per share. On average, equities research analysts expect that Parker Drilling Company will post ($0.88) EPS for the current year.
Several research firms recently weighed in on PKD. Zacks Investment Research upgraded shares of Parker Drilling from a “hold” rating to a “buy” rating and set a $1.25 price target on the stock in a report on Friday, September 1st. Seaport Global Securities restated a “neutral” rating on shares of Parker Drilling in a report on Friday, August 4th. Finally, ValuEngine cut shares of Parker Drilling from a “sell” rating to a “strong sell” rating in a report on Friday, June 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $2.92.
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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