Boaz Weinstein’s Saba Capital Management: Parker Drilling Co Reports increased Stake

June 18, 2018 - By Peter Erickson

Investors sentiment decreased to 0.76 in Q1 2018. Its down 0.06, from 0.82 in 2017Q4. It dropped, 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.

State Bank Of New York Mellon reported 715,774 shares. Proshare Advsr Ltd Liability invested 0% in Parker Drilling Company (NYSE:PKD). Northern Tru invested 0% in Parker Drilling Company (NYSE:PKD). Lsv Asset Mgmt reported 2.61 million shares stake. Towle Co holds 10.46 million shares or 0.7% of its portfolio. Balyasny Asset Mngmt Ltd Liability Corporation owns 0% invested in Parker Drilling Company (NYSE:PKD) for 14,172 shares. Saba Cap Management Limited Partnership owns 0.32% invested in Parker Drilling Company (NYSE:PKD) for 9.02M shares. Renaissance Technology Ltd Liability Company reported 2.39M shares stake. State Common Retirement Fund holds 111,600 shares or 0% of its portfolio. Parametric Portfolio Assoc Ltd Company has invested 0% in Parker Drilling Company (NYSE:PKD). Price T Rowe Associates Inc Md holds 0% of its portfolio in Parker Drilling Company (NYSE:PKD) for 15,962 shares. Lmr Llp reported 14,472 shares. California State Teachers Retirement Sys accumulated 207,524 shares. California Employees Retirement System invested 0% in Parker Drilling Company (NYSE:PKD). Blackrock Inc reported 8.49 million shares.

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

Saba Capital Management filed with SEC a SC 13G/A form for Parker Drilling Co . It can be found at: 000106299318002637. As reported by Boaz Weinstein’s Saba Capital Management, the filler increased its stake in the stock by 45.71 % for 14,610,342 shares. Boaz Weinstein’s Saba Capital Management currently owns 10.48% of the Energy- stock. Date of activity: June 14, 2018.

The hedge fund with about $7.93 billion looks more positive after reporting such an increase of its Parker Drilling Co ownership.

The hedge fund is investor in the Energy 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 August, 1. They expect $-0.20 EPS, up 13.04 % or $0.03 from last year’s $-0.23 per share. After $-0.21 actual EPS reported by Parker Drilling Company for the previous quarter, Wall Street now forecasts -4.76 % EPS growth.

The stock increased 0.11% or $0.0004 during the last trading session, reaching $0.3567. About 599,746 shares traded. Parker Drilling Company (NYSE:PKD) has declined 65.76% since June 18, 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 $49.72 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.

Another recent and important Parker Drilling Company (NYSE:PKD) news was published by 247Wallst.com which published an article titled: “Harmony Gold, MiMedx Slink into Thursday’s 52-Week Low Club” on June 14, 2018.

Parker Drilling Company (NYSE:PKD) Institutional Positions Chart

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