Parker Drilling (PKD) Stock Price Down 6.4%

Parker Drilling (NYSE:PKD)’s share price dropped 6.4% on Monday . The company traded as low as $1.13 and last traded at $1.17. Approximately 608,677 shares changed hands during trading, a decline of 35% from the average daily volume of 935,375 shares. The stock had previously closed at $1.25.

The company has a market capitalization of $168.06, a P/E ratio of -1.12 and a beta of 1.51. The company has a debt-to-equity ratio of 1.78, a current ratio of 3.39 and a quick ratio of 3.02.

Parker Drilling (NYSE:PKD) last announced its earnings results on Wednesday, November 1st. The oil and gas company reported ($0.15) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.21) by $0.06. The company had revenue of $118.31 million for the quarter, compared to analyst estimates of $119.80 million. Parker Drilling had a negative return on equity of 38.07% and a negative net margin of 33.06%. The firm’s quarterly revenue was up 21.7% compared to the same quarter last year. During the same quarter last year, the company earned ($0.37) earnings per share. equities analysts forecast that Parker Drilling will post -0.85 earnings per share for the current year.

Institutional investors have recently bought and sold shares of the business. Voya Investment Management LLC increased its stake in Parker Drilling by 24.5% during the 2nd quarter. Voya Investment Management LLC now owns 79,644 shares of the oil and gas company’s stock worth $108,000 after acquiring an additional 15,655 shares during the period. SG Americas Securities LLC increased its stake in Parker Drilling by 64.4% during the 2nd quarter. SG Americas Securities LLC now owns 118,783 shares of the oil and gas company’s stock worth $160,000 after acquiring an additional 46,543 shares during the period. Los Angeles Capital Management & Equity Research Inc. bought a new position in Parker Drilling during the 3rd quarter worth $203,000. Rhumbline Advisers increased its stake in Parker Drilling by 7.5% during the 2nd quarter. Rhumbline Advisers now owns 165,073 shares of the oil and gas company’s stock worth $223,000 after acquiring an additional 11,545 shares during the period. Finally, Alliancebernstein L.P. increased its stake in Parker Drilling by 5.4% during the 2nd quarter. Alliancebernstein L.P. now owns 191,989 shares of the oil and gas company’s stock worth $259,000 after acquiring an additional 9,800 shares during the period. Hedge funds and other institutional investors own 63.48% 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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