PARKER DRILLING/SH PAR $ (NYSE:PKD) Major Shareholder Brigade Capital Management, Lp Sells 77,181 Shares

PARKER DRILLING/SH PAR $ (NYSE:PKD) major shareholder Brigade Capital Management, Lp sold 77,181 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $19.66, for a total transaction of $1,517,378.46. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

PKD opened at $19.22 on Wednesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.80 and a quick ratio of 2.60. The firm has a 50 day moving average of $19.04 and a two-hundred day moving average of $18.42. PARKER DRILLING/SH PAR $ has a 12-month low of $10.67 and a 12-month high of $24.09.

PARKER DRILLING/SH PAR $ (NYSE:PKD) last posted its earnings results on Tuesday, November 5th. The oil and gas company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.25. The firm had revenue of $160.08 million for the quarter, compared to analysts’ expectations of $150.20 million. As a group, sell-side analysts predict that PARKER DRILLING/SH PAR $ will post 0.8 earnings per share for the current year.

A number of equities analysts have issued reports on the stock. Zacks Investment Research raised shares of PARKER DRILLING/SH PAR $ from a “hold” rating to a “buy” rating and set a $22.00 price target for the company in a research report on Thursday, November 7th. Imperial Capital reduced their price target on shares of PARKER DRILLING/SH PAR $ from $34.00 to $30.00 and set an “outperform” rating for the company in a research report on Thursday, September 12th.

Large investors have recently bought and sold shares of the company. JPMorgan Chase & Co. purchased a new position in shares of PARKER DRILLING/SH PAR $ during the 2nd quarter valued at approximately $49,000. Tower Research Capital LLC TRC purchased a new position in shares of PARKER DRILLING/SH PAR $ during the 2nd quarter valued at approximately $69,000. Wells Fargo & Company MN purchased a new position in shares of PARKER DRILLING/SH PAR $ during the 2nd quarter valued at approximately $244,000. Nomura Asset Management Co. Ltd. purchased a new position in shares of PARKER DRILLING/SH PAR $ during the 2nd quarter valued at approximately $288,000. Finally, Charles Schwab Investment Management Inc. purchased a new position in shares of PARKER DRILLING/SH PAR $ during the 2nd quarter valued at approximately $394,000. 50.84% of the stock is owned by hedge funds and other institutional investors.

About PARKER DRILLING/SH PAR $

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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