Two Sigma Investments LP Raises Holdings in Parker Drilling (PKD)
Two Sigma Investments LP raised its stake in Parker Drilling (NYSE:PKD) by 170.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 138,791 shares of the oil and gas company’s stock after purchasing an additional 87,425 shares during the period. Two Sigma Investments LP’s holdings in Parker Drilling were worth $139,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of the business. Brigade Capital Management LP boosted its holdings in Parker Drilling by 14.5% in the 4th quarter. Brigade Capital Management LP now owns 11,465,000 shares of the oil and gas company’s stock valued at $11,465,000 after purchasing an additional 1,455,000 shares during the period. Towle & Co. boosted its holdings in Parker Drilling by 9.7% in the 4th quarter. Towle & Co. now owns 10,910,061 shares of the oil and gas company’s stock valued at $10,910,000 after purchasing an additional 966,742 shares during the period. Renaissance Technologies LLC boosted its holdings in Parker Drilling by 31.5% in the 4th quarter. Renaissance Technologies LLC now owns 2,162,400 shares of the oil and gas company’s stock valued at $2,162,000 after purchasing an additional 518,000 shares during the period. California Public Employees Retirement System boosted its holdings in Parker Drilling by 9.9% in the 4th quarter. California Public Employees Retirement System now owns 877,763 shares of the oil and gas company’s stock valued at $878,000 after purchasing an additional 79,001 shares during the period. Finally, Schwab Charles Investment Management Inc. boosted its holdings in Parker Drilling by 129.4% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 554,116 shares of the oil and gas company’s stock valued at $555,000 after purchasing an additional 312,551 shares during the period. 65.24% of the stock is owned by hedge funds and other institutional investors.
Separately, Zacks Investment Research downgraded shares of Parker Drilling from a “hold” rating to a “sell” rating in a report on Thursday, March 8th.
Parker Drilling (NYSE:PKD) last announced its quarterly earnings data on Wednesday, February 14th. The oil and gas company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.01. Parker Drilling had a negative net margin of 26.82% and a negative return on equity of 33.28%. The company had revenue of $116.30 million during the quarter, compared to analysts’ expectations of $112.22 million. During the same quarter in the prior year, the company posted ($0.39) EPS. The business’s revenue was up 23.7% on a year-over-year basis. equities research analysts forecast that Parker Drilling will post -0.61 earnings per share for the current year.
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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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