Will Parker Drilling Company (PKD) Short Squeeze Soon?

March 21, 2018 - By Marie Mckinney

Investors sentiment decreased to 0.95 in 2017 Q3. Its down 0.27, from 1.22 in 2017Q2. It fall, 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.
Dimensional Fund Advsr L P holds 9.43M shares. Rothschild Asset Mgmt Inc has 402,043 shares. 361,300 are held by Pacific Glob Invest Management Company. 16,747 were accumulated by Amalgamated Savings Bank. Advisory Services Net Lc invested in 6,000 shares. Natixis reported 0% in Parker Drilling Company (NYSE:PKD). Royal Financial Bank Of Canada invested 0% of its portfolio in Parker Drilling Company (NYSE:PKD). Hightower Advsrs Ltd Limited Liability Company stated it has 0% in Parker Drilling Company (NYSE:PKD). Price T Rowe Assoc Md holds 0% of its portfolio in Parker Drilling Company (NYSE:PKD) for 77,800 shares. Blackrock has invested 0% in Parker Drilling Company (NYSE:PKD). 184,300 were accumulated by Los Angeles Capital Equity Rech. Ameriprise Incorporated stated it has 0% in Parker Drilling Company (NYSE:PKD). Principal Gp Inc accumulated 0% or 19,831 shares. Commonwealth Equity Services reported 0% in Parker Drilling Company (NYSE:PKD). Rhumbline Advisers invested in 0% or 164,193 shares.

The stock of Parker Drilling Company (NYSE:PKD) hit a new 52-week low and has $0.73 target or 3.00 % below today’s $0.75 share price. The 5 months bearish chart indicates high risk for the $104.66M company. The 1-year low was reported on Mar, 21 by Barchart.com. If the $0.73 price target is reached, the company will be worth $3.14M 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 increased 2.84% or $0.0208 during the last trading session, reaching $0.7534. About 540,506 shares traded. Parker Drilling Company (NYSE:PKD) has declined 34.68% since March 21, 2017 and is downtrending. It has underperformed by 51.38% the S&P500.

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.

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 had 8 analyst reports since August 7, 2015 according to SRatingsIntel. The firm has “Buy” rating given on Wednesday, August 31 by Edward Jones. Tudor Pickering initiated the shares of PKD in report on Friday, March 24 with “Hold” rating. The stock has “Buy” rating by Sidoti on Wednesday, September 23. The rating was downgraded by TheStreet to “Sell” on Friday, August 7. The rating was initiated by DA Davidson with “Buy” on Thursday, October 6. Tudor Pickering downgraded the stock to “Hold” rating in Wednesday, September 9 report.

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 $104.66 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.

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