What’s Propelling Parker Drilling Company (PKD) to Reach Yearly Low?

July 16, 2018 - By Jason Dias

Investors sentiment decreased to 0.76 in Q1 2018. Its down 0.06, from 0.82 in 2017Q4. It is negative, as 8 investors sold Parker Drilling Company shares while 34 reduced holdings. 11 funds opened positions while 21 raised stakes. 90.99 million shares or 2.54% more from 88.74 million shares in 2017Q4 were reported.
Prudential Fin owns 10,437 shares. Bancorporation Of America De has invested 0% in Parker Drilling Company (NYSE:PKD). Lpl Financial Limited Liability Corp holds 10,865 shares. Jpmorgan Chase And Communications holds 0% or 2.19M shares in its portfolio. Financial Bank Of Mellon reported 715,774 shares. Pacific Global Management invested in 138,900 shares. Invesco Limited accumulated 0% or 253,391 shares. Amalgamated Bancorp has invested 0% in Parker Drilling Company (NYSE:PKD). Raymond James Financial Advsrs Incorporated invested in 26,448 shares or 0% of the stock. Morgan Stanley reported 300,843 shares stake. Manufacturers Life Ins Comm The owns 1,487 shares or 0% of their US portfolio. Thrivent For Lutherans has 0% invested in Parker Drilling Company (NYSE:PKD). New York-based New York State Common Retirement Fund has invested 0% in Parker Drilling Company (NYSE:PKD). Moreover, Lmr Prtnrs Ltd Liability Partnership has 0% invested in Parker Drilling Company (NYSE:PKD). Grp One Trading L P owns 5,840 shares or 0% of their US portfolio.

The stock of Parker Drilling Company (NYSE:PKD) hit a new 52-week low and has $0.30 target or 6.00 % below today’s $0.32 share price. The 8 months bearish chart indicates high risk for the $44.60M company. The 1-year low was reported on Jul, 16 by Barchart.com. If the $0.30 price target is reached, the company will be worth $2.68 million less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock.

The stock decreased 10.61% or $0.04 during the last trading session, reaching $0.32. About 952,903 shares traded. Parker Drilling Company (NYSE:PKD) has declined 65.76% since July 16, 2017 and is downtrending. It has underperformed by 78.33% the S&P500.

Analysts await Parker Drilling Company (NYSE:PKD) to report earnings on August, 1. They expect $-0.20 EPS, up 13.04 % or $0.03 from last year’s $-0.23 per share. After $-0.21 actual EPS reported by Parker Drilling Company for the previous quarter, Wall Street now forecasts -4.76 % EPS growth.

Parker Drilling Company Inc., together with its subsidiaries, provides contract drilling and drilling-related services, and rental tools to the energy industry in the United States, Russia, Europe, the Middle East, Africa, Asia, Latin America, Canada, and Internationally. The company has market cap of $44.60 million. It operates through two business lines, Drilling Services and Rental Tools Services. It currently has negative earnings. The Drilling Services business provides project related services, such as engineering, procurement, project management, and commissioning of customer-owned drilling facility projects; drill wells and manages the logistical and technological challenges of operating in remote, harsh, and ecologically sensitive areas; 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.

Parker Drilling Company (NYSE:PKD) Institutional Positions Chart

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