PKD Crosses Below Key Price/Book Valuation Level

In trading on Friday, shares of Parker Drilling Co. (PKD) crossed below their last reported book value — defined as common shareholder equity per share — of $5.27, changing hands as low as $5.19 per share. Parker Drilling Co. shares are currently trading down about 6% on the day. The chart below shows the one year performance of PKD shares, versus its 50 and 200 day moving averages:

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Parker Drilling Co. Moving Averages Chart

Looking at the chart above, PKD's low point in its 52 week range is $5.19 per share, with $8.67 as the 52 week high point — that compares with a last trade of $5.21.

According to the ETF Finder at ETF Channel, PKD makes up 2.56% of the PowerShares Dynamic Oil & Gas Services Portfolio ETF ( PXJ) which is trading lower by about 1.3% on the day Friday.

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