Parker Drilling (PKD) Sets New 52-Week Low at $1.92

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Parker Drilling (NYSE:PKD) hit a new 52-week low during trading on Thursday . The company traded as low as $1.92 and last traded at $1.98, with a volume of 2800 shares trading hands. The stock had previously closed at $2.18.

A number of brokerages have recently commented on PKD. ValuEngine raised shares of Parker Drilling from a “hold” rating to a “buy” rating in a report on Saturday, July 28th. Zacks Investment Research raised shares of Parker Drilling from a “sell” rating to a “hold” rating in a report on Tuesday, July 17th.

The company has a current ratio of 2.62, a quick ratio of 2.45 and a debt-to-equity ratio of 3.41.

Parker Drilling (NYSE:PKD) last announced its earnings results on Monday, November 5th. The oil and gas company reported ($2.99) EPS for the quarter, beating analysts’ consensus estimates of ($3.19) by $0.20. Parker Drilling had a negative net margin of 32.33% and a negative return on equity of 41.39%. The business had revenue of $123.40 million during the quarter.

Several large investors have recently made changes to their positions in PKD. Cubist Systematic Strategies LLC raised its holdings in shares of Parker Drilling by 67.7% in the first quarter. Cubist Systematic Strategies LLC now owns 218,184 shares of the oil and gas company’s stock valued at $139,000 after buying an additional 88,110 shares during the last quarter. LMR Partners LLP raised its holdings in Parker Drilling by 2,948.0% during the second quarter. LMR Partners LLP now owns 441,100 shares of the oil and gas company’s stock worth $168,000 after purchasing an additional 426,628 shares in the last quarter. BlueMountain Capital Management LLC purchased a new position in Parker Drilling during the second quarter worth about $1,088,000. Renaissance Technologies LLC raised its holdings in Parker Drilling by 12.1% during the second quarter. Renaissance Technologies LLC now owns 2,678,100 shares of the oil and gas company’s stock worth $1,018,000 after purchasing an additional 288,300 shares in the last quarter. Finally, Paloma Partners Management Co purchased a new position in Parker Drilling during the second quarter worth about $249,000.

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About Parker Drilling (NYSE:PKD)

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.

Read More: Leveraged Buyout (LBO)

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