Boaz Weinstein’s Saba Capital Management Acquired Stake in Parker Drilling Co

March 23, 2018 - By Henry Gaston

 Boaz Weinstein's Saba Capital Management Acquired Stake in Parker Drilling Co

Investors sentiment decreased to 0.95 in 2017 Q3. Its down 0.27, from 1.22 in 2017Q2. It is negative, as 13 investors sold Parker Drilling Company shares while 29 reduced holdings. 14 funds opened positions while 26 raised stakes. 87.40 million shares or 3.25% less from 90.34 million shares in 2017Q2 were reported.

Wells Fargo And Mn stated it has 963,317 shares or 0% of all its holdings. Towle & holds 9.94M shares or 1.16% of its portfolio. Virginia Retirement System Et Al invested 0% of its portfolio in Parker Drilling Company (NYSE:PKD). Acadian Asset Mgmt Ltd Liability Corporation reported 239,166 shares. Royal Natl Bank Of Canada holds 13,448 shares or 0% of its portfolio. Pub Employees Retirement Association Of Colorado stated it has 70,829 shares. Schwab Charles has 241,565 shares for 0% of their portfolio. The Georgia-based Advisory Service Networks Lc has invested 0% in Parker Drilling Company (NYSE:PKD). Legal General Public Ltd Company has 0% invested in Parker Drilling Company (NYSE:PKD). Fmr Limited Liability Com reported 7.77M shares or 0% of all its holdings. Dimensional Fund Limited Partnership invested in 9.43M shares or 0% of the stock. Massachusetts-based Rhumbline Advisers has invested 0% in Parker Drilling Company (NYSE:PKD). Renaissance Techs Ltd Llc holds 0% of its portfolio in Parker Drilling Company (NYSE:PKD) for 1.64 million shares. Jefferies Gru Limited Liability Com accumulated 0% or 45,627 shares. Pacific Glob Management accumulated 361,300 shares.

The New Boaz Weinstein’s Saba Capital Management Holding in Parker Drilling Co

Saba Capital Management reported SC 13G form with the SEC for Parker Drilling Co . Access it here: 000106299318001326. As reported by Boaz Weinstein’s Saba Capital Management, the filler owns 5.71% or 7,932,192 shares of the Energy–company.

Parker Drilling Co stake is new for [reportingPerson]. Date of activity: March 14, 2018. This shows Boaz Weinstein’s Saba Capital Management’s positive view for Parker Drilling Co . For a hedge fund managing $7.93 billion in assets and having 62+ experts this is interesting position.

The hedge fund is investor in the Energy sector. In the manager’s last 13-F, we saw 9% of Boaz Weinstein’s Saba Capital Management’s portfolio is in the sector.

Parker Drilling Co Institutional Sentiment

Filings show 84 investors own Parker Drilling Co . The ownership in Q3 2017 is high, at Infinity of the outstanding shares. This is increased by 2282386. 87400633 were owned by these investors. 14 funds opened new Parker Drilling Co stakes, 26 increased positions. There were 13 that closed positions and 29 reduced them.

Donald Smith & Company Inc is an investor bullish on Parker Drilling Co , owning 4769509 shares as of Q3 2017 for 0.13% of its portfolio. Don Morgan Brigade Capital Management Lp owns 10010000 shares or 0.89% of its portfolio. CA Wilsey Asset Management Inc have 1.66% of its portfolio for 2239813 shares. Further, Towle & Co reported stake worth 1.16% of its portfolio. The VA Aegis Financial Corp owns 1179209 shares. Parker Drilling Co is 1.84% of its portfolio.

SEC Form 13G.

Analysts await Parker Drilling Company (NYSE:PKD) to report earnings on May, 1. They expect $-0.21 EPS, up 32.26 % or $0.10 from last year’s $-0.31 per share. After $-0.16 actual EPS reported by Parker Drilling Company for the previous quarter, Wall Street now forecasts 31.25 % negative EPS growth.

The stock increased 0.93% or $0.0067 during the last trading session, reaching $0.7277. About 342,735 shares traded. Parker Drilling Company (NYSE:PKD) has declined 34.68% since March 23, 2017 and is downtrending. It has underperformed by 51.38% 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 $101.09 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) Ratings Coverage

Among 6 analysts covering Parker Drilling (NYSE:PKD), 4 have Buy rating, 1 Sell and 1 Hold. Therefore 67% are positive. Parker Drilling has $5.50 highest and $1.50 lowest target. $3.50’s average target is 380.97% above currents $0.7277 stock price. Parker Drilling had 8 analyst reports since August 7, 2015 according to SRatingsIntel. The company was downgraded on Friday, August 7 by TheStreet. Edward Jones upgraded the stock to “Buy” rating in Wednesday, August 31 report. DA Davidson initiated it with “Buy” rating and $3.50 target in Thursday, October 6 report. On Friday, March 24 the stock rating was initiated by Tudor Pickering with “Hold”. Sidoti upgraded the shares of PKD in report on Wednesday, September 23 to “Buy” rating. The stock of Parker Drilling Company (NYSE:PKD) has “Hold” rating given on Wednesday, September 9 by Tudor Pickering.

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