Donald Smith & CO. Inc. Has $1.57 Million Stake in Parker Drilling (PKD)
Donald Smith & CO. Inc. trimmed its stake in Parker Drilling (NYSE:PKD) by 5.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,139,483 shares of the oil and gas company’s stock after selling 242,952 shares during the period. Donald Smith & CO. Inc. owned 44.42% of Parker Drilling worth $1,573,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the company. Millennium Management LLC purchased a new stake in Parker Drilling in the 4th quarter worth $118,000. Cubist Systematic Strategies LLC increased its stake in Parker Drilling by 67.7% in the 1st quarter. Cubist Systematic Strategies LLC now owns 218,184 shares of the oil and gas company’s stock worth $139,000 after buying an additional 88,110 shares in the last quarter. LMR Partners LLP increased its stake in Parker Drilling by 2,948.0% in the 2nd quarter. LMR Partners LLP now owns 441,100 shares of the oil and gas company’s stock worth $168,000 after buying an additional 426,628 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Parker Drilling by 51.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 204,936 shares of the oil and gas company’s stock worth $205,000 after buying an additional 69,715 shares in the last quarter. Finally, Deutsche Bank AG increased its stake in Parker Drilling by 140.5% in the 4th quarter. Deutsche Bank AG now owns 300,994 shares of the oil and gas company’s stock worth $300,000 after buying an additional 175,841 shares in the last quarter.
In other Parker Drilling news, major shareholder Saba Capital Management, L.P. purchased 645,810 shares of the business’s stock in a transaction on Friday, June 22nd. The stock was acquired at an average price of $0.34 per share, for a total transaction of $219,575.40. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders acquired a total of 1,596,054 shares of company stock valued at $537,609 in the last quarter. 3.26% of the stock is currently owned by company insiders.
Shares of PKD stock opened at $3.94 on Friday. Parker Drilling has a 52-week low of $3.08 and a 52-week high of $21.60. The company has a quick ratio of 2.45, a current ratio of 2.75 and a debt-to-equity ratio of 2.40. The firm has a market capitalization of $38.02 million, a price-to-earnings ratio of -0.31 and a beta of 1.54.
Parker Drilling (NYSE:PKD) last issued its quarterly earnings results on Wednesday, August 1st. The oil and gas company reported ($2.56) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.19) by ($2.37). Parker Drilling had a negative return on equity of 33.04% and a negative net margin of 21.75%. The business had revenue of $118.60 million during the quarter.
Parker Drilling Profile
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.
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