Dimensional Fund Advisors LP cut its holdings in shares of Parker Drilling Company (NYSE:PKD) by 1.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,323,939 shares of the oil and gas company’s stock after selling 164,112 shares during the period. Dimensional Fund Advisors LP owned approximately 7.47% of Parker Drilling worth $13,937,000 at the end of the most recent reporting period.
Several other large investors have also bought and sold shares of the company. FMR LLC increased its position in shares of 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 in the last quarter. Vanguard Group Inc. increased its position in shares of 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 in the last quarter. Northern Trust Corp increased its position in shares of 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 in the last quarter. Teachers Advisors LLC increased its position in shares of Parker Drilling by 10.0% during the second quarter. Teachers Advisors LLC now owns 376,394 shares of the oil and gas company’s stock worth $508,000 after acquiring an additional 34,277 shares in the last quarter. Finally, Alliancebernstein L.P. increased its position in shares of Parker Drilling by 5.4% during the second 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 in the last quarter. 64.51% of the stock is owned by institutional investors.
Several equities research analysts have recently commented on PKD shares. Zacks Investment Research downgraded shares of Parker Drilling from a “buy” rating to a “hold” rating in a research report on Thursday, August 31st. Seaport Global Securities reissued a “neutral” rating on shares of Parker Drilling in a research report on Friday, August 4th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. Parker Drilling currently has an average rating of “Hold” and an average target price of $1.25.
Shares of Parker Drilling Company (NYSE PKD) opened at $1.16 on Tuesday. The company has a current ratio of 3.39, a quick ratio of 3.02 and a debt-to-equity ratio of 1.78. Parker Drilling Company has a 52-week low of $0.90 and a 52-week high of $2.90.
Parker Drilling (NYSE:PKD) last issued its quarterly earnings data on Wednesday, November 1st. The oil and gas company reported ($0.15) earnings per share (EPS) for the quarter, topping the Zacks’ 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 business had revenue of $118.31 million during the quarter, compared to the consensus estimate of $119.80 million. During the same period in the prior year, the firm posted ($0.37) EPS. The firm’s quarterly revenue was up 21.7% compared to the same quarter last year. equities analysts forecast that Parker Drilling Company will post -0.88 earnings per share for the current fiscal year.
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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