Highbridge Capital Management Acquires 16,359 Shares of PARKER DRILLING/SH PAR $ (NYSE:PKD) Stock

PARKER DRILLING/SH PAR $ (NYSE:PKD) major shareholder Highbridge Capital Management acquired 16,359 shares of the firm’s stock in a transaction on Thursday, January 16th. The shares were acquired at an average price of $17.43 per share, with a total value of $285,137.37. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Highbridge Capital Management also recently made the following trade(s):

  • On Tuesday, January 21st, Highbridge Capital Management acquired 43,029 shares of PARKER DRILLING/SH PAR $ stock. The shares were acquired at an average price of $17.73 per share, with a total value of $762,904.17.

Shares of NYSE PKD opened at $17.73 on Wednesday. PARKER DRILLING/SH PAR $ has a one year low of $10.67 and a one year high of $24.09. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.60 and a current ratio of 2.80. The business has a 50-day moving average price of $19.80 and a two-hundred day moving average price of $18.31.

PARKER DRILLING/SH PAR $ (NYSE:PKD) last announced its quarterly earnings results on Tuesday, November 5th. The oil and gas company reported $0.27 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.25. The business had revenue of $160.08 million during the quarter, compared to analyst estimates of $150.20 million. PARKER DRILLING/SH PAR $ had a negative return on equity of 42.51% and a negative net margin of 20.69%. As a group, analysts anticipate that PARKER DRILLING/SH PAR $ will post 0.8 earnings per share for the current year.

Separately, Zacks Investment Research lowered PARKER DRILLING/SH PAR $ from a “buy” rating to a “hold” rating in a research report on Wednesday, January 8th.

Several institutional investors have recently made changes to their positions in PKD. JPMorgan Chase & Co. acquired a new stake in shares of PARKER DRILLING/SH PAR $ during the 2nd quarter valued at about $49,000. Tower Research Capital LLC TRC acquired a new stake in shares of PARKER DRILLING/SH PAR $ during the 2nd quarter valued at about $69,000. Wells Fargo & Company MN acquired a new stake in shares of PARKER DRILLING/SH PAR $ during the 2nd quarter valued at about $244,000. Charles Schwab Investment Management Inc. acquired a new stake in shares of PARKER DRILLING/SH PAR $ during the 2nd quarter valued at about $394,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of PARKER DRILLING/SH PAR $ during the 2nd quarter valued at about $534,000. Institutional investors and hedge funds own 48.26% of the company’s stock.

PARKER DRILLING/SH PAR $ 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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