Wilsey Asset Management Inc buys $4,909,730 stake in Parker Drilling Company (PKD)

Parker Drilling Company (PKD) : Wilsey Asset Management Inc scooped up 22,525 additional shares in Parker Drilling Company during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 11, 2016. The investment management firm now holds a total of 2,089,247 shares of Parker Drilling Company which is valued at $4,909,730.Parker Drilling Company makes up approximately 3.74% of Wilsey Asset Management Inc’s portfolio.

Other Hedge Funds, Including , Simplex Trading boosted its stake in PKD in the latest quarter, The investment management firm added 52 additional shares and now holds a total of 484 shares of Parker Drilling Company which is valued at $1,108.Bnp Paribas Arbitrage Sa boosted its stake in PKD in the latest quarter, The investment management firm added 4,177 additional shares and now holds a total of 9,040 shares of Parker Drilling Company which is valued at $20,340.

Parker Drilling Company (PKD) witnessed a volatile trading activity on Tuesday , and eventually ended flat at 0.00% or 0 points without letting the bulls or bears take much advantage. The trading began at $2.35 and reached the intraday high at $2.4. The bulls started the profit booking and pushed the shares to intraday low of $2.3. The trading session was marked by a volume range of 2,15,900 shares exchanging hands. The 52-week high of the shares is $3.57 and the 52-week low is $0.9801. The market cap of the company stands at $293 M and there are 12,46,95,455 shares in public circulation.

On the company’s financial health, Parker Drilling Company reported $-0.32 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Aug 2, 2016. Analyst had a consensus of $-0.35. The company had revenue of $105.30 million for the quarter, compared to analysts expectations of $106.30 million. The company’s revenue was down -43.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.11 EPS.

Many Wall Street Analysts have commented on Parker Drilling Company. Parker Drilling Company was Upgraded by Edward Jones to ” Buy” on Aug 31, 2016. Parker Drilling Company was Downgraded by Macquarie to ” Underperform” on Aug 9, 2016.

Parker Drilling Company (Parker Drilling) is a provider of contract drilling and drilling-related services and rental tools. The Company owns and operates drilling rigs and drilling-related equipment and also performs drilling-related services referred to as Operations & Maintenance (O&M) work for customer-owned drilling rigs on a contracted basis. The Company’s rental tools business supplies equipment to exploration and production (E&P) companies drilling contractors and service companies on land and offshore in the United States and select international markets. The Company has five operating segments: Rental Tools U.S. Barge Drilling U.S. Drilling International Drilling and Technical Services. Parker Drilling operates in approximately 23 countries.

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