State Board of Administration of Florida Retirement System held its position in Parker Drilling Co. (NYSE:PKD) during the second quarter, Holdings Channel reports. The fund owned 124,081 shares of the company’s stock at the end of the second quarter. State Board of Administration of Florida Retirement System owned about 0.10% of Parker Drilling worth $284,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in the company. California Public Employees Retirement System boosted its position in Parker Drilling by 1.3% in the second quarter. California Public Employees Retirement System now owns 931,700 shares of the company’s stock worth $2,134,000 after buying an additional 12,400 shares in the last quarter. Emerald Acquisition Ltd. acquired a new position in Parker Drilling during the second quarter valued at approximately $138,000. Rothschild Asset Management Inc. boosted its position in Parker Drilling by 5.7% in the second quarter. Rothschild Asset Management Inc. now owns 831,446 shares of the company’s stock valued at $1,904,000 after buying an additional 45,084 shares during the period. Towle & Co. boosted its position in Parker Drilling by 0.6% in the second quarter. Towle & Co. now owns 7,340,369 shares of the company’s stock valued at $16,809,000 after buying an additional 42,800 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in Parker Drilling by 7.4% in the second quarter. Bank of New York Mellon Corp now owns 748,911 shares of the company’s stock valued at $1,715,000 after buying an additional 51,397 shares during the period. Hedge funds and other institutional investors own 64.37% of the company’s stock.
Parker Drilling Co. (NYSE:PKD) traded up 2.17% during midday trading on Friday, hitting $2.35. The company had a trading volume of 379,751 shares. The company’s 50 day moving average is $2.20 and its 200-day moving average is $2.30. Parker Drilling Co. has a one year low of $0.98 and a one year high of $3.21. The company’s market cap is $291.64 million.
Parker Drilling (NYSE:PKD) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported ($0.32) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.35) by $0.03. Parker Drilling had a negative return on equity of 18.78% and a negative net margin of 39.42%. The business had revenue of $105.30 million for the quarter, compared to the consensus estimate of $105.80 million. During the same period last year, the business earned ($0.11) EPS. The firm’s revenue was down 43.4% compared to the same quarter last year. On average, equities analysts predict that Parker Drilling Co. will post ($1.32) EPS for the current year.
Several equities analysts have recently commented on PKD shares. Zacks Investment Research upgraded Parker Drilling from a “sell” rating to a “hold” rating in a research note on Thursday, July 28th. Macquarie cut Parker Drilling from a “neutral” rating to an “underperform” rating and set a $1.50 target price for the company. in a research note on Tuesday, August 9th. Nomura set a $4.00 target price on Parker Drilling and gave the company a “buy” rating in a research note on Tuesday, August 16th. Seaport Global Securities reiterated a “neutral” rating on shares of Parker Drilling in a research note on Friday, August 19th. Finally, Evercore ISI reiterated a “buy” rating and set a $3.50 target price on shares of Parker Drilling in a research note on Tuesday, August 23rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $2.80.
In related news, Chairman Gary G. Rich acquired 80,000 shares of the business’s stock in a transaction that occurred on Thursday, September 1st. The shares were acquired at an average cost of $2.18 per share, with a total value of $174,400.00. Following the purchase, the chairman now owns 719,903 shares of the company’s stock, valued at $1,569,388.54. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.68% of the stock is owned by corporate insiders.
Parker Drilling Company Profile
Parker Drilling Company (Parker Drilling) is a provider of contract drilling, and drilling-related services and rental tools. The Company’s business consists of two business lines: drilling services and rental tools services. Its Rental Tools Services business includes its Rental Tools segment, and its Drilling Services business includes its U.S.
Want to see what other hedge funds are holding PKD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Parker Drilling Co. (NYSE:PKD).
Receive News & Ratings for Parker Drilling Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Parker Drilling Co. and related companies with MarketBeat.com's FREE daily email newsletter.