Parker Drilling (PKD) Position Increased by Saba Capital Management L.P.

Saba Capital Management L.P. increased its holdings in Parker Drilling (NYSE:PKD) by 171.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,015,494 shares of the oil and gas company’s stock after purchasing an additional 5,689,405 shares during the quarter. Saba Capital Management L.P. owned approximately 0.06% of Parker Drilling worth $5,725,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of PKD. Schwab Charles Investment Management Inc. grew its stake in shares of Parker Drilling by 129.4% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 554,116 shares of the oil and gas company’s stock worth $555,000 after purchasing an additional 312,551 shares during the last quarter. California Public Employees Retirement System grew its stake in shares of Parker Drilling by 9.9% in the fourth quarter. California Public Employees Retirement System now owns 877,763 shares of the oil and gas company’s stock worth $878,000 after purchasing an additional 79,001 shares during the last quarter. Towle & Co. grew its stake in shares of Parker Drilling by 9.7% in the fourth quarter. Towle & Co. now owns 10,910,061 shares of the oil and gas company’s stock worth $10,910,000 after purchasing an additional 966,742 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Parker Drilling by 31.5% in the fourth quarter. Renaissance Technologies LLC now owns 2,162,400 shares of the oil and gas company’s stock worth $2,162,000 after purchasing an additional 518,000 shares during the last quarter. Finally, Deutsche Bank AG grew its stake in shares of Parker Drilling by 140.5% in the fourth quarter. Deutsche Bank AG now owns 300,994 shares of the oil and gas company’s stock worth $300,000 after purchasing an additional 175,841 shares during the last quarter. 67.13% of the stock is currently owned by institutional investors.

Parker Drilling opened at $0.37 on Thursday, according to MarketBeat. The company has a current ratio of 3.14, a quick ratio of 2.81 and a debt-to-equity ratio of 2.17. Parker Drilling has a 1 year low of $0.35 and a 1 year high of $1.44. The stock has a market capitalization of $55.75 million, a P/E ratio of -0.44 and a beta of 1.71.

Parker Drilling (NYSE:PKD) last issued its quarterly earnings data on Tuesday, May 1st. The oil and gas company reported ($0.21) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.21). Parker Drilling had a negative net margin of 23.72% and a negative return on equity of 32.58%. The business had revenue of $109.68 million during the quarter, compared to analyst estimates of $109.80 million. analysts anticipate that Parker Drilling will post -0.73 EPS for the current fiscal year.

PKD has been the topic of several recent analyst reports. Zacks Investment Research cut Parker Drilling from a “hold” rating to a “sell” rating in a research note on Thursday, June 7th. ValuEngine raised Parker Drilling from a “sell” rating to a “hold” rating in a research note on Saturday, June 2nd.

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

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