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Parker Drilling Co. Message Board

  • soulec soulec Oct 13, 2013 6:24 PM Flag

    It would seem.....

    the assuming is, the Deutsche Bank Leveraged Finance Conference went well along with T. Boone Pickens report on CNBC, since the presentation(s) PKD broke out of the range its been stuck in for months and is 3 cents from 52 week high, IF it closes above 52 week high for 3 straight days and Economy/Oil prices stay high, with no increase in OPEC supply, PKD could head back to 6.8X to $7.2X range before YE.

    Regardless, from 3.8X to 6.4X is a serious profit for those who prefer to take the money and run.

    We will lock some more small profits, but our core position is solid until 2015+. If Parker gets the 2 more BP north slope rig order and with acquired services/rental tools business fully implemented, I maintain a buy rating on Parker Drilling. If you loaded up with the cheap shares, do not add to position yet, wait and be patient.

    Cheers!

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PKD
2.17+0.06(+2.84%)Sep 30 4:02 PMEDT