Shell Asset Management Co. held its stake in Parker Drilling Company (NYSE:PKD) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 517,923 shares of the oil and gas company’s stock at the end of the second quarter. Shell Asset Management Co. owned 0.40% of Parker Drilling worth $699,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in PKD. Tower Research Capital LLC TRC boosted its stake in Parker Drilling by 16,993.5% in the first quarter. Tower Research Capital LLC TRC now owns 68,374 shares of the oil and gas company’s stock worth $119,000 after buying an additional 67,974 shares during the period. SG Americas Securities LLC purchased a new stake in Parker Drilling during the first quarter worth $126,000. American International Group Inc. boosted its stake in Parker Drilling by 7.0% in the first quarter. American International Group Inc. now owns 74,392 shares of the oil and gas company’s stock worth $130,000 after buying an additional 4,889 shares during the period. Chicago Partners Investment Group LLC purchased a new stake in Parker Drilling during the first quarter worth $148,000. Finally, Metropolitan Life Insurance Co. NY boosted its stake in Parker Drilling by 14.6% in the first quarter. Metropolitan Life Insurance Co. NY now owns 88,430 shares of the oil and gas company’s stock worth $155,000 after buying an additional 11,267 shares during the period. 65.76% of the stock is currently owned by institutional investors and hedge funds.
Shares of Parker Drilling Company (NYSE:PKD) opened at 1.20 on Friday. The firm’s market cap is $165.40 million. Parker Drilling Company has a 12-month low of $1.15 and a 12-month high of $2.90. The company has a 50 day moving average of $1.29 and a 200-day moving average of $1.63.
Parker Drilling (NYSE:PKD) last issued its earnings results on Wednesday, August 2nd. The oil and gas company reported ($0.23) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.27) by $0.04. Parker Drilling had a negative net margin of 41.31% and a negative return on equity of 43.64%. The company had revenue of $109.60 million for the quarter, compared to the consensus estimate of $112.25 million. During the same quarter in the previous year, the company earned ($0.32) EPS. The firm’s revenue for the quarter was up 4.1% compared to the same quarter last year. Equities research analysts forecast that Parker Drilling Company will post ($0.88) EPS for the current fiscal year.
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A number of analysts recently weighed in on PKD shares. Zacks Investment Research cut shares of Parker Drilling from a “buy” rating to a “hold” rating in a report on Wednesday, April 26th. Macquarie raised shares of Parker Drilling from an “underperform” rating to a “neutral” rating in a report on Tuesday, May 9th. Seaport Global Securities reaffirmed 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. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $3.31.
About Parker Drilling
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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