Parker Drilling Company (NYSE:PKD) Could Burn Your Long Portfolio After More Shorts

August 10, 2018 - By Paula Hilliard

Investors sentiment decreased to 0.76 in 2018 Q1. Its down 0.06, from 0.82 in 2017Q4. It dived, 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.
Citigroup Inc owns 28,273 shares. Renaissance Technologies Ltd stated it has 2.39 million shares or 0% of all its holdings. The New York-based Amalgamated Commercial Bank has invested 0% in Parker Drilling Company (NYSE:PKD). State Board Of Administration Of Florida Retirement Sys reported 124,081 shares or 0% of all its holdings. Panagora Asset Mgmt Inc owns 251,483 shares or 0% of their US portfolio. Schwab Charles Investment Mgmt accumulated 596,287 shares or 0% of the stock. Morgan Stanley accumulated 300,843 shares. 5,840 are owned by Gp One Trading L P. Moreover, Public Employees Retirement Association Of Colorado has 0% invested in Parker Drilling Company (NYSE:PKD). Brigade Mgmt Ltd Partnership has 0.33% invested in Parker Drilling Company (NYSE:PKD) for 11.53 million shares. Lmr Ptnrs Llp reported 0% in Parker Drilling Company (NYSE:PKD). California Employees Retirement Sys reported 0% stake. Pacific Global Co invested in 0.02% or 138,900 shares. Vanguard Grp Inc Inc holds 0% or 6.02 million shares. Credit Suisse Ag accumulated 0% or 60,314 shares.

The stock of Parker Drilling Company (NYSE:PKD) registered an increase of 8.4% in short interest. PKD’s total short interest was 7.42M shares in August as published by FINRA. Its up 8.4% from 6.84M shares, reported previously. With 742,700 shares average volume, it will take short sellers 10 days to cover their PKD’s short positions. The short interest to Parker Drilling Company’s float is 6.04%.

The stock increased 1.06% or $0.04 during the last trading session, reaching $3.81. About 109,836 shares traded. Parker Drilling Company (NYSE:PKD) has declined 65.76% since August 10, 2017 and is downtrending. It has underperformed by 78.33% the S&P500.

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 $35.50 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.

More news for Parker Drilling Company (NYSE:PKD) were recently published by: Streetinsider.com, which released: “Parker Drilling (PKD) Tops Q2 EPS by 58c, Revenues Beat” on August 01, 2018. Seekingalpha.com‘s article titled: “Parker Drilling Company (PKD) CEO Gary Rich on Q2 2018 Results – Earnings Call Transcript” and published on August 05, 2018 is yet another important article.

Parker Drilling Company (NYSE:PKD) Institutional Positions Chart

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