Boaz Weinstein’s Saba Capital Management Disclosed New Parker Drilling Co Position

March 23, 2018 - By Nellie Frank

 Boaz Weinstein's Saba Capital Management Disclosed New Parker Drilling Co  Position

Investors sentiment decreased to 0.95 in Q3 2017. 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.

Public Employees Retirement Association Of Colorado accumulated 70,829 shares or 0% of the stock. Amalgamated State Bank invested in 0% or 16,747 shares. Great West Life Assurance Can has 0% invested in Parker Drilling Company (NYSE:PKD). Aqr Capital Mgmt Ltd Company stated it has 66,661 shares. Ubs Asset Management Americas owns 51,630 shares. Raymond James Fin Serv holds 0% or 21,160 shares in its portfolio. Us Natl Bank De stated it has 0% of its portfolio in Parker Drilling Company (NYSE:PKD). Strs Ohio has invested 0% in Parker Drilling Company (NYSE:PKD). Wells Fargo And Mn reported 0% stake. Bnp Paribas Arbitrage Sa owns 0% invested in Parker Drilling Company (NYSE:PKD) for 25,434 shares. Virginia Retirement Et Al owns 0% invested in Parker Drilling Company (NYSE:PKD) for 16,217 shares. Fincl Bank Of Montreal Can invested in 0% or 5,460 shares. Advisory Ntwk Ltd Limited Liability Company holds 0% or 6,000 shares in its portfolio. Tiaa Cref Invest Mngmt Ltd invested in 0% or 517,950 shares. State Board Of Administration Of Florida Retirement System has 0% invested in Parker Drilling Company (NYSE:PKD).

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 earnings per share, up 32.26 % or $0.10 from last year’s $-0.31 per share. After $-0.16 actual earnings per share 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 stock of Parker Drilling Company (NYSE:PKD) has “Hold” rating given on Wednesday, September 9 by Tudor Pickering. As per Friday, August 7, the company rating was downgraded by TheStreet. The stock of Parker Drilling Company (NYSE:PKD) has “Buy” rating given on Thursday, October 6 by DA Davidson. The stock of Parker Drilling Company (NYSE:PKD) earned “Buy” rating by Edward Jones on Wednesday, August 31. The stock of Parker Drilling Company (NYSE:PKD) earned “Hold” rating by Tudor Pickering on Friday, March 24. The stock of Parker Drilling Company (NYSE:PKD) earned “Buy” rating by Sidoti on Wednesday, September 23.

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