Northern Trust Corp Has $3.21 Million Stake in Parker Drilling Company (PKD)
Northern Trust Corp lifted its holdings in shares of Parker Drilling Company (NYSE:PKD) by 10.3% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,378,934 shares of the oil and gas company’s stock after purchasing an additional 222,741 shares during the quarter. Northern Trust Corp owned about 1.72% of Parker Drilling worth $3,211,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Parker Drilling by 3.6% during the first quarter. Vanguard Group Inc. now owns 5,726,979 shares of the oil and gas company’s stock worth $10,023,000 after purchasing an additional 197,586 shares during the last quarter. American International Group Inc. raised its position in shares of Parker Drilling by 7.0% in the 1st quarter. American International Group Inc. now owns 74,392 shares of the oil and gas company’s stock worth $130,000 after buying an additional 4,889 shares during the period. Bank of New York Mellon Corp raised its position in shares of Parker Drilling by 4.4% in the 1st quarter. Bank of New York Mellon Corp now owns 744,558 shares of the oil and gas company’s stock worth $1,303,000 after buying an additional 31,201 shares during the period. Rhumbline Advisers raised its position in shares of Parker Drilling by 7.5% in the 2nd quarter. Rhumbline Advisers now owns 165,073 shares of the oil and gas company’s stock worth $223,000 after buying an additional 11,545 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of Parker Drilling by 0.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 10,488,051 shares of the oil and gas company’s stock worth $18,354,000 after buying an additional 73,898 shares during the period. Institutional investors and hedge funds own 62.78% of the company’s stock.
Parker Drilling Company (PKD) opened at $1.10 on Friday. The company has a debt-to-equity ratio of 1.78, a current ratio of 3.39 and a quick ratio of 3.02. Parker Drilling Company has a 52-week low of $0.90 and a 52-week high of $2.90.
Parker Drilling (NYSE:PKD) last released its quarterly earnings data on Wednesday, November 1st. The oil and gas company reported ($0.15) EPS for the quarter, beating the consensus estimate of ($0.21) by $0.06. Parker Drilling had a negative return on equity of 38.07% and a negative net margin of 33.06%. The company had revenue of $118.31 million for the quarter, compared to analyst estimates of $119.80 million. During the same period last year, the company posted ($0.37) earnings per share. The firm’s revenue was up 21.7% compared to the same quarter last year. equities analysts anticipate that Parker Drilling Company will post -0.88 EPS for the current year.
Several brokerages recently weighed in on PKD. Zacks Investment Research lowered 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 analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $1.25.
Parker Drilling 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.
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