Los Angeles Capital Management & Equity Research Inc. Buys Shares of 184,300 Parker Drilling Company (PKD)

Los Angeles Capital Management & Equity Research Inc. bought a new stake in Parker Drilling Company (NYSE:PKD) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 184,300 shares of the oil and gas company’s stock, valued at approximately $203,000. Los Angeles Capital Management & Equity Research Inc. owned approximately 0.13% of Parker Drilling as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of PKD. Towle & Co. raised its stake in Parker Drilling by 9.5% during the third quarter. Towle & Co. now owns 9,943,319 shares of the oil and gas company’s stock worth $10,938,000 after acquiring an additional 862,444 shares during the period. FMR LLC raised its stake in Parker Drilling by 6.7% during the second quarter. FMR LLC now owns 7,630,993 shares of the oil and gas company’s stock worth $10,302,000 after acquiring an additional 477,037 shares during the period. Vanguard Group Inc. raised its stake in Parker Drilling by 6.4% during the second quarter. Vanguard Group Inc. now owns 6,095,922 shares of the oil and gas company’s stock worth $8,230,000 after acquiring an additional 368,943 shares during the period. Renaissance Technologies LLC raised its stake 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 acquiring an additional 245,700 shares during the period. Finally, Northern Trust Corp raised its stake in Parker Drilling by 10.3% during the second quarter. Northern Trust Corp now owns 2,378,934 shares of the oil and gas company’s stock worth $3,211,000 after acquiring an additional 222,741 shares during the period. Institutional investors and hedge funds own 63.52% of the company’s stock.

Parker Drilling Company (PKD) remained flat at $$0.97 during midday trading on Wednesday. The stock had a trading volume of 835,600 shares, compared to its average volume of 702,919. Parker Drilling Company has a 52-week low of $0.90 and a 52-week high of $2.90. The company has a quick ratio of 3.02, a current ratio of 3.39 and a debt-to-equity ratio of 1.78.

Parker Drilling (NYSE:PKD) last posted its earnings results on Wednesday, November 1st. The oil and gas company reported ($0.15) EPS for the quarter, topping the consensus estimate of ($0.21) by $0.06. Parker Drilling had a negative net margin of 33.06% and a negative return on equity of 38.07%. The firm had revenue of $118.31 million during the quarter, compared to analysts’ expectations of $119.80 million. During the same quarter in the prior year, the firm earned ($0.37) EPS. Parker Drilling’s quarterly revenue was up 21.7% on a year-over-year basis.

Separately, Zacks Investment Research upgraded shares of Parker Drilling from a “hold” rating to a “buy” rating and set a $1.25 price objective on the stock in a research note on Friday, September 1st. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $1.25.

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Parker Drilling 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.

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

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