Parker Drilling (PKD) Bonds Trading 1.8% Higher

An issue of Parker Drilling (NYSE:PKD) debt rose 1.8% against its face value during trading on Tuesday. The debt issue has a 6.75% coupon and is set to mature on July 15, 2022. The debt is now trading at $87.00. Price moves in a company’s debt in credit markets sometimes predict parallel moves in its stock price.

Shares of Parker Drilling (NYSE PKD) opened at $1.24 on Thursday. Parker Drilling has a 52 week low of $0.85 and a 52 week high of $2.85. The company has a quick ratio of 3.02, a current ratio of 3.39 and a debt-to-equity ratio of 1.78. The stock has a market capitalization of $172.23, a P/E ratio of -1.15 and a beta of 1.51.

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

A number of institutional investors and hedge funds have recently modified their holdings of the business. Towle & Co. raised its holdings in Parker Drilling by 9.5% in the 3rd quarter. Towle & Co. now owns 9,943,319 shares of the oil and gas company’s stock valued at $10,938,000 after acquiring an additional 862,444 shares during the last quarter. FMR LLC raised its holdings in Parker Drilling by 6.7% in the 2nd quarter. FMR LLC now owns 7,630,993 shares of the oil and gas company’s stock valued at $10,302,000 after acquiring an additional 477,037 shares during the last quarter. Vanguard Group Inc. raised its holdings in Parker Drilling by 6.4% in the 2nd quarter. Vanguard Group Inc. now owns 6,095,922 shares of the oil and gas company’s stock valued at $8,230,000 after acquiring an additional 368,943 shares during the last quarter. Donald Smith & CO. Inc. raised its holdings in Parker Drilling by 3.7% in the 2nd quarter. Donald Smith & CO. Inc. now owns 5,057,056 shares of the oil and gas company’s stock valued at $6,827,000 after acquiring an additional 178,754 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in Parker Drilling by 10.3% in the 2nd quarter. Northern Trust Corp now owns 2,378,934 shares of the oil and gas company’s stock valued at $3,211,000 after acquiring an additional 222,741 shares during the last quarter. Institutional investors own 63.48% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: “Parker Drilling (PKD) Bonds Trading 1.8% Higher” was reported by Community Financial News and is the sole property of of Community Financial News. If you are accessing this story on another website, it was stolen and reposted in violation of U.S. & international copyright legislation. The legal version of this story can be viewed at https://www.com-unik.info/2018/01/11/parker-drilling-pkd-bonds-trading-1-8-higher.html.

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.

Receive News & Ratings for Parker Drilling Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Parker Drilling and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit