Parker Drilling (PKD) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. reduced its stake in Parker Drilling (NYSE:PKD) by 20.4% during the third quarter, according to its most recent filing with the SEC. The fund owned 2,504,439 shares of the oil and gas company’s stock after selling 640,299 shares during the quarter. JPMorgan Chase & Co. owned 1.80% of Parker Drilling worth $2,880,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of PKD. FMR LLC lifted its holdings in 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 valued at $10,302,000 after purchasing an additional 477,037 shares during the last quarter. Towle & Co. increased its position in shares of Parker Drilling by 9.5% during the third quarter. Towle & Co. now owns 9,943,319 shares of the oil and gas company’s stock valued at $10,938,000 after buying an additional 862,444 shares during the period. State Street Corp increased its position in shares of Parker Drilling by 8.5% during the second quarter. State Street Corp now owns 2,324,481 shares of the oil and gas company’s stock valued at $3,135,000 after buying an additional 182,728 shares during the period. 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 valued at $8,230,000 after buying an additional 368,943 shares during the period. Finally, 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 valued at $3,211,000 after buying an additional 222,741 shares during the period. 63.48% of the stock is currently owned by institutional investors.

Parker Drilling (NYSE PKD) opened at $1.25 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. The firm has a market cap of $148.62, a P/E ratio of -1.16 and a beta of 1.51. Parker Drilling has a 52-week low of $0.85 and a 52-week high of $2.85.

Parker Drilling (NYSE:PKD) last posted its quarterly earnings data on Wednesday, November 1st. The oil and gas company reported ($0.15) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.21) by $0.06. The company had revenue of $118.31 million for the quarter, compared to analysts’ expectations of $119.80 million. Parker Drilling had a negative net margin of 33.06% and a negative return on equity of 38.07%. Parker Drilling’s revenue for the quarter was up 21.7% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.37) earnings per share. analysts anticipate that Parker Drilling will post -0.85 EPS for the current year.

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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.

Institutional Ownership by Quarter for Parker Drilling (NYSE:PKD)

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