California Public Employees Retirement System reduced its position in Parker Drilling Company (NYSE:PKD) by 10.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 745,800 shares of the oil and gas company’s stock after selling 83,600 shares during the period. California Public Employees Retirement System owned 0.54% of Parker Drilling worth $1,007,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of PKD. Bank of New York Mellon Corp lifted its position in shares of Parker Drilling by 4.4% in the first 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 in the last quarter. Swiss National Bank lifted its position in shares of Parker Drilling by 10.0% in the first quarter. Swiss National Bank now owns 226,100 shares of the oil and gas company’s stock worth $396,000 after buying an additional 20,600 shares in the last quarter. Parametric Portfolio Associates LLC lifted its position in shares of Parker Drilling by 2.0% in the first quarter. Parametric Portfolio Associates LLC now owns 490,070 shares of the oil and gas company’s stock worth $858,000 after buying an additional 9,752 shares in the last quarter. American International Group Inc. lifted its position in shares of Parker Drilling by 7.0% in the first 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 in the last quarter. Finally, FMR LLC lifted its position in shares of Parker Drilling by 128.4% in the first quarter. FMR LLC now owns 7,153,956 shares of the oil and gas company’s stock worth $12,519,000 after buying an additional 4,021,846 shares in the last quarter. Institutional investors own 64.51% of the company’s stock.

A number of equities research analysts have issued reports on the company. Seaport Global Securities restated a “neutral” rating on shares of Parker Drilling in a research report on Friday, August 4th. Zacks Investment Research downgraded Parker Drilling from a “buy” rating to a “hold” rating in a research report on Thursday, August 31st. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $1.25.

Shares of Parker Drilling Company (PKD) opened at $1.18 on Monday. Parker Drilling Company has a 52-week low of $0.90 and a 52-week high of $2.90. 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 (NYSE:PKD) last issued its quarterly earnings data on Wednesday, November 1st. The oil and gas company reported ($0.15) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $118.31 million for the quarter, compared to the consensus estimate of $119.80 million. During the same period in the prior year, the business posted ($0.37) earnings per share. The company’s quarterly revenue was up 21.7% compared to the same quarter last year. analysts predict that Parker Drilling Company will post -0.88 earnings per share for the current year.

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

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