Intrinsic value of Parker Drilling - PKD

Previous Close

$1.20

  Intrinsic Value

$0.68

stock screener

  Rating & Target

sell

-43%

  Value-price divergence*

-35%

Previous close

$1.20

 
Intrinsic value

$0.68

 
Up/down potential

-43%

 
Rating

sell

 
Value-price divergence*

-35%

*Intrinsic value change (in %) minus stock price change (in %) in the past 12 months.

We calculate the intrinsic value of PKD stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2016), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 0.1

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  -40.03
  2.00
  2.30
  2.57
  2.81
  3.03
  3.23
  3.41
  3.57
  3.71
  3.84
  3.95
  4.06
  4.15
  4.24
  4.31
  4.38
  4.44
  4.50
  4.55
  4.59
  4.64
  4.67
  4.70
  4.73
  4.76
  4.78
  4.81
  4.83
  4.84
  4.86
Revenue, $m
  427
  436
  446
  457
  470
  484
  500
  517
  535
  555
  576
  599
  623
  649
  677
  706
  737
  770
  804
  841
  880
  920
  963
  1,009
  1,056
  1,107
  1,160
  1,215
  1,274
  1,336
  1,401
Variable operating expenses, $m
 
  294
  300
  308
  317
  326
  337
  348
  361
  374
  388
  403
  419
  437
  455
  475
  496
  518
  541
  565
  591
  619
  648
  678
  710
  744
  780
  817
  857
  898
  942
Fixed operating expenses, $m
 
  262
  269
  276
  283
  290
  297
  304
  312
  320
  328
  336
  344
  353
  362
  371
  380
  390
  399
  409
  419
  430
  441
  452
  463
  475
  486
  499
  511
  524
  537
Total operating expenses, $m
  538
  556
  569
  584
  600
  616
  634
  652
  673
  694
  716
  739
  763
  790
  817
  846
  876
  908
  940
  974
  1,010
  1,049
  1,089
  1,130
  1,173
  1,219
  1,266
  1,316
  1,368
  1,422
  1,479
Operating income, $m
  -111
  -120
  -124
  -127
  -129
  -132
  -134
  -136
  -137
  -139
  -140
  -140
  -140
  -140
  -140
  -139
  -139
  -137
  -136
  -134
  -131
  -128
  -125
  -121
  -117
  -112
  -107
  -100
  -94
  -86
  -78
EBITDA, $m
  29
  -42
  -44
  -45
  -45
  -45
  -44
  -43
  -41
  -39
  -36
  -33
  -29
  -24
  -19
  -14
  -7
  0
  8
  16
  25
  36
  47
  58
  71
  85
  100
  116
  133
  152
  172
Interest expense (income), $m
  41
  41
  42
  43
  45
  46
  48
  50
  52
  55
  57
  60
  63
  66
  69
  73
  76
  80
  84
  89
  93
  98
  104
  109
  115
  121
  127
  134
  141
  149
  156
Earnings before tax, $m
  -157
  -161
  -166
  -170
  -174
  -178
  -182
  -186
  -190
  -193
  -197
  -199
  -203
  -206
  -209
  -212
  -215
  -218
  -220
  -223
  -225
  -227
  -229
  -230
  -232
  -233
  -234
  -234
  -235
  -235
  -234
Tax expense, $m
  74
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Net income, $m
  -231
  -161
  -166
  -170
  -174
  -178
  -182
  -186
  -190
  -193
  -197
  -199
  -203
  -206
  -209
  -212
  -215
  -218
  -220
  -223
  -225
  -227
  -229
  -230
  -232
  -233
  -234
  -234
  -235
  -235
  -234

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  120
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  1,104
  1,004
  1,027
  1,053
  1,083
  1,115
  1,151
  1,191
  1,233
  1,279
  1,328
  1,380
  1,436
  1,496
  1,560
  1,627
  1,698
  1,774
  1,853
  1,938
  2,027
  2,121
  2,220
  2,324
  2,434
  2,550
  2,672
  2,801
  2,936
  3,078
  3,227
Adjusted assets (=assets-cash), $m
  984
  1,004
  1,027
  1,053
  1,083
  1,115
  1,151
  1,191
  1,233
  1,279
  1,328
  1,380
  1,436
  1,496
  1,560
  1,627
  1,698
  1,774
  1,853
  1,938
  2,027
  2,121
  2,220
  2,324
  2,434
  2,550
  2,672
  2,801
  2,936
  3,078
  3,227
Revenue / Adjusted assets
  0.434
  0.434
  0.434
  0.434
  0.434
  0.434
  0.434
  0.434
  0.434
  0.434
  0.434
  0.434
  0.434
  0.434
  0.434
  0.434
  0.434
  0.434
  0.434
  0.434
  0.434
  0.434
  0.434
  0.434
  0.434
  0.434
  0.434
  0.434
  0.434
  0.434
  0.434
Average production assets, $m
  761
  776
  794
  814
  837
  863
  891
  921
  954
  989
  1,027
  1,068
  1,111
  1,157
  1,206
  1,258
  1,313
  1,372
  1,433
  1,499
  1,567
  1,640
  1,717
  1,797
  1,883
  1,972
  2,067
  2,166
  2,270
  2,380
  2,496
Working capital, $m
  183
  64
  66
  68
  70
  72
  74
  76
  79
  82
  85
  89
  92
  96
  100
  104
  109
  114
  119
  124
  130
  136
  143
  149
  156
  164
  172
  180
  189
  198
  207
Total debt, $m
  576
  591
  609
  629
  652
  678
  706
  736
  769
  805
  843
  884
  927
  973
  1,023
  1,075
  1,130
  1,189
  1,251
  1,317
  1,386
  1,459
  1,536
  1,617
  1,702
  1,792
  1,887
  1,987
  2,092
  2,202
  2,319
Total liabilities, $m
  764
  780
  798
  818
  841
  867
  895
  925
  958
  994
  1,032
  1,073
  1,116
  1,162
  1,212
  1,264
  1,319
  1,378
  1,440
  1,506
  1,575
  1,648
  1,725
  1,806
  1,891
  1,981
  2,076
  2,176
  2,281
  2,391
  2,508
Total equity, $m
  339
  224
  229
  235
  241
  249
  257
  266
  275
  285
  296
  308
  320
  334
  348
  363
  379
  396
  413
  432
  452
  473
  495
  518
  543
  569
  596
  625
  655
  686
  720
Total liabilities and equity, $m
  1,103
  1,004
  1,027
  1,053
  1,082
  1,116
  1,152
  1,191
  1,233
  1,279
  1,328
  1,381
  1,436
  1,496
  1,560
  1,627
  1,698
  1,774
  1,853
  1,938
  2,027
  2,121
  2,220
  2,324
  2,434
  2,550
  2,672
  2,801
  2,936
  3,077
  3,228
Debt-to-equity ratio
  1.699
  2.640
  2.660
  2.680
  2.700
  2.720
  2.750
  2.770
  2.800
  2.820
  2.850
  2.870
  2.890
  2.920
  2.940
  2.960
  2.990
  3.010
  3.030
  3.050
  3.070
  3.080
  3.100
  3.120
  3.140
  3.150
  3.170
  3.180
  3.200
  3.210
  3.220
Adjusted equity ratio
  0.223
  0.223
  0.223
  0.223
  0.223
  0.223
  0.223
  0.223
  0.223
  0.223
  0.223
  0.223
  0.223
  0.223
  0.223
  0.223
  0.223
  0.223
  0.223
  0.223
  0.223
  0.223
  0.223
  0.223
  0.223
  0.223
  0.223
  0.223
  0.223
  0.223
  0.223

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -231
  -161
  -166
  -170
  -174
  -178
  -182
  -186
  -190
  -193
  -197
  -199
  -203
  -206
  -209
  -212
  -215
  -218
  -220
  -223
  -225
  -227
  -229
  -230
  -232
  -233
  -234
  -234
  -235
  -235
  -234
Depreciation, amort., depletion, $m
  140
  78
  80
  82
  84
  87
  90
  93
  96
  100
  103
  107
  111
  116
  121
  126
  131
  137
  143
  150
  157
  164
  172
  180
  188
  197
  207
  217
  227
  238
  250
Funds from operations, $m
  60
  -83
  -86
  -88
  -90
  -91
  -92
  -93
  -93
  -94
  -93
  -93
  -92
  -90
  -88
  -86
  -84
  -80
  -77
  -73
  -68
  -63
  -57
  -51
  -43
  -36
  -27
  -18
  -8
  3
  15
Change in working capital, $m
  39
  1
  1
  2
  2
  2
  2
  3
  3
  3
  3
  3
  4
  4
  4
  4
  5
  5
  5
  5
  6
  6
  6
  7
  7
  7
  8
  8
  9
  9
  10
Cash from operations, $m
  21
  -84
  -87
  -89
  -91
  -93
  -95
  -96
  -96
  -97
  -96
  -96
  -95
  -94
  -93
  -91
  -88
  -85
  -82
  -78
  -74
  -69
  -63
  -57
  -51
  -43
  -35
  -26
  -16
  -6
  6
Maintenance CAPEX, $m
  0
  -76
  -78
  -79
  -81
  -84
  -86
  -89
  -92
  -95
  -99
  -103
  -107
  -111
  -116
  -121
  -126
  -131
  -137
  -143
  -150
  -157
  -164
  -172
  -180
  -188
  -197
  -207
  -217
  -227
  -238
New CAPEX, $m
  -29
  -15
  -18
  -20
  -23
  -25
  -28
  -30
  -33
  -35
  -38
  -41
  -43
  -46
  -49
  -52
  -55
  -58
  -62
  -65
  -69
  -73
  -77
  -81
  -85
  -90
  -94
  -99
  -105
  -110
  -116
Cash from investing activities, $m
  -27
  -91
  -96
  -99
  -104
  -109
  -114
  -119
  -125
  -130
  -137
  -144
  -150
  -157
  -165
  -173
  -181
  -189
  -199
  -208
  -219
  -230
  -241
  -253
  -265
  -278
  -291
  -306
  -322
  -337
  -354
Free cash flow, $m
  -6
  -175
  -182
  -189
  -196
  -202
  -209
  -215
  -221
  -227
  -233
  -239
  -245
  -251
  -257
  -263
  -269
  -275
  -281
  -287
  -292
  -298
  -304
  -310
  -315
  -321
  -327
  -332
  -337
  -343
  -348
Issuance/(repayment) of debt, $m
  0
  15
  18
  21
  23
  26
  28
  30
  33
  36
  38
  41
  44
  46
  49
  52
  55
  59
  62
  66
  69
  73
  77
  81
  85
  90
  95
  100
  105
  110
  116
Issuance/(repurchase) of shares, $m
  0
  166
  171
  176
  181
  185
  190
  195
  199
  203
  208
  211
  215
  219
  223
  227
  231
  234
  238
  241
  245
  248
  251
  254
  256
  259
  261
  263
  265
  266
  268
Cash from financing (excl. dividends), $m  
  -9
  181
  189
  197
  204
  211
  218
  225
  232
  239
  246
  252
  259
  265
  272
  279
  286
  293
  300
  307
  314
  321
  328
  335
  341
  349
  356
  363
  370
  376
  384
Total cash flow (excl. dividends), $m
  -15
  5
  6
  7
  8
  9
  9
  10
  11
  12
  12
  13
  13
  14
  15
  16
  17
  18
  19
  20
  21
  23
  24
  25
  26
  28
  29
  31
  32
  34
  36
Retained Cash Flow (-), $m
  230
  -166
  -171
  -176
  -181
  -185
  -190
  -195
  -199
  -203
  -208
  -211
  -215
  -219
  -223
  -227
  -231
  -234
  -238
  -241
  -245
  -248
  -251
  -254
  -256
  -259
  -261
  -263
  -265
  -266
  -268
Prev. year cash balance distribution, $m
 
  120
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  -41
  -165
  -169
  -173
  -177
  -181
  -184
  -188
  -192
  -195
  -199
  -202
  -205
  -208
  -211
  -214
  -216
  -219
  -221
  -223
  -225
  -227
  -229
  -230
  -231
  -232
  -232
  -232
  -232
  -232
Discount rate, %
 
  9.80
  10.29
  10.80
  11.34
  11.91
  12.51
  13.13
  13.79
  14.48
  15.20
  15.96
  16.76
  17.60
  18.48
  19.40
  20.37
  21.39
  22.46
  23.58
  24.76
  26.00
  27.30
  28.67
  30.10
  31.61
  33.19
  34.85
  36.59
  38.42
  40.34
PV of cash for distribution, $m
 
  -37
  -135
  -124
  -112
  -101
  -89
  -78
  -67
  -57
  -47
  -39
  -31
  -25
  -19
  -15
  -11
  -8
  -6
  -4
  -3
  -2
  -1
  -1
  0
  0
  0
  0
  0
  0
  0
Current shareholders' claim on cash, %
  100
  48.0
  23.0
  11.0
  5.2
  2.5
  1.2
  0.6
  0.3
  0.1
  0.1
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0

Parker Drilling Company, 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. It operates through two business lines, Drilling Services and Rental Tools Services. 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. The Rental Tools Services business offers rental equipment, such as standard and heavy-weight drill pipes, tubing, pressure control equipment, including blow-out preventers, drill collars, and others; well construction services, including tubular running services and downhole tools; well intervention services comprising whipstock, fishing products, and related services; and inspection and machine shop support services for exploration and production companies, drilling contractors, and service companies on land and offshore. The company serves independent and national oil and natural gas companies, and integrated service providers. Parker Drilling Company was founded in 1934 and is headquartered in Houston, Texas.

FINANCIAL RATIOS  of  Parker Drilling (PKD)

Valuation Ratios
P/E Ratio -0.6
Price to Sales 0.4
Price to Book 0.4
Price to Tangible Book
Price to Cash Flow 7.1
Price to Free Cash Flow -18.8
Growth Rates
Sales Growth Rate -40%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -67%
Cap. Spend. - 3 Yr. Gr. Rate -28.6%
Financial Strength
Quick Ratio NaN
Current Ratio 0.1
LT Debt to Equity 169.9%
Total Debt to Equity 169.9%
Interest Coverage -3
Management Effectiveness
Return On Assets -13.8%
Ret/ On Assets - 3 Yr. Avg. -4.6%
Return On Total Capital -22.4%
Ret/ On T. Cap. - 3 Yr. Avg. -9.5%
Return On Equity -50.9%
Return On Equity - 3 Yr. Avg. -20.9%
Asset Turnover 0.3
Profitability Ratios
Gross Margin -17.6%
Gross Margin - 3 Yr. Avg. 0.8%
EBITDA Margin 5.6%
EBITDA Margin - 3 Yr. Avg. 15.8%
Operating Margin -26%
Oper. Margin - 3 Yr. Avg. -6.4%
Pre-Tax Margin -36.8%
Pre-Tax Margin - 3 Yr. Avg. -13.9%
Net Profit Margin -54.1%
Net Profit Margin - 3 Yr. Avg. -21.7%
Effective Tax Rate -47.1%
Eff/ Tax Rate - 3 Yr. Avg. -8.9%
Payout Ratio 0%

PKD stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the PKD stock intrinsic value calculation we used $427 million for the last fiscal year's total revenue generated by Parker Drilling. The default revenue input number comes from 2016 income statement of Parker Drilling. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our PKD stock valuation model: a) initial revenue growth rate of 2% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 9.8%, whose default value for PKD is calculated based on our internal credit rating of Parker Drilling, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Parker Drilling.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of PKD stock the variable cost ratio is equal to 67.4%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $256 million in the base year in the intrinsic value calculation for PKD stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 7.1% for Parker Drilling.

Corporate tax rate of 27% is the nominal tax rate for Parker Drilling. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the PKD stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for PKD are equal to 178.2%.

Life of production assets of 10 years is the average useful life of capital assets used in Parker Drilling operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for PKD is equal to 14.8%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $339 million for Parker Drilling - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 122.015 million for Parker Drilling is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Parker Drilling at the current share price and the inputted number of shares is $0.1 billion.

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COMPANY NEWS

▶ Parker Drilling reports 2Q loss   [Aug-03-17 05:39PM  Associated Press]
▶ Parker Drilling Reports 2017 Second Quarter Results   [Aug-02-17 04:30PM  PR Newswire]
▶ LD Micro Index Reconstitution as of August 1, 2017   [Aug-01-17 09:40AM  ACCESSWIRE]
▶ ETFs with exposure to Parker Drilling Co. : July 7, 2017   [Jul-07-17 03:23PM  Capital Cube]
▶ ETFs with exposure to Parker Drilling Co. : June 14, 2017   [Jun-14-17 01:44PM  Capital Cube]
▶ Halliburton hires CFO from Houston drilling co.   [Jun-12-17 07:25PM  American City Business Journals]
▶ ETFs with exposure to Parker Drilling Co. : June 2, 2017   [Jun-02-17 02:25PM  Capital Cube]
▶ Top 5 Small-Cap Oil Stocks for 2017   [Jun-01-17 06:00AM  Investopedia]
▶ ETFs with exposure to Parker Drilling Co. : May 23, 2017   [May-23-17 01:03PM  Capital Cube]
▶ ETFs with exposure to Parker Drilling Co. : May 11, 2017   [May-11-17 05:20PM  Capital Cube]
▶ Parker Drilling reports 1Q loss   [May-03-17 05:02AM  Associated Press]
▶ Parker Drilling Reports 2017 First Quarter Results   [May-02-17 04:30PM  PR Newswire]
▶ ETFs with exposure to Parker Drilling Co. : April 7, 2017   [Apr-07-17 05:17PM  Capital Cube]
▶ Penny Stocks to Watch for March 2017 (MOBL)   [Mar-02-17 05:21PM  at Investopedia]
▶ Oil and Gas Stock Roundup: Look Out Below!   [Feb-25-17 10:00AM  Motley Fool]
▶ Oil and Gas Stock Roundup: Look Out Below!   [10:00AM  at Motley Fool]
▶ Heres Why Parker Drilling Companys Stock Is Plunging Today   [Feb-22-17 12:57PM  at Motley Fool]
▶ Hedge Funds Are Buying Parker Drilling Company (PKD)   [Dec-11-16 09:27AM  at Insider Monkey]
▶ Drilling company's former longtime chairman dies   [Jul-12-16 02:25PM  at bizjournals.com]
▶ In Memoriam: Robert L. Parker, Sr.   [Jul-11-16 07:02PM  PR Newswire]
Stock chart of PKD Financial statements of PKD
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

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