Parker Drilling Co (Parker Drilling Co) Momentum Rank : 0 (As of Jun. 23, 2024)

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What is Parker Drilling Co Momentum Rank?

Parker Drilling Co has the Momentum Rank of 0.

For Momentum Rank, we considered the residual momentum concept that was widely studied by Blitz and his colleagues as well as by Nobel Prize laureates Fama and French. However, we did not find any significant differences in the performances of stocks with different ranks of residual momentum. Therefore, we use traditional momentum instead.

Momentum Rank is determined using the standardized momentum ratio and other momentum indicators. The standardized momentum ratio is the average of the performances from 12 months ago to 1 month ago and 6 months ago to 1 month ago, divided by the beta of the stock over the past 12 months. To calculate the momentum ratio today, we would use the average of the two performance numbers.

For momentum, we found that stock price performance does not have a monotonic correlation with the momentum ratio. The stocks with the highest momentum ratios perform worse than those at about the 70th percentile. Therefore, for the momentum rank, we ranked the stocks at about the 70th percentile of the momentum ratio as the highest at 10.

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Parker Drilling Co (Parker Drilling Co) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Parker Drilling Co (OTCPK:PKDC) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

N/A

Address

5 Greenway Plaza, Suite 100, Houston, TX, USA, 77046

Website

https://www.parkerdrilling.com

Parker Drilling Co is a provider of contract drilling and drilling-related services as well as rental tools and services. It reports its Drilling Services business into two segments namely U.S. (Lower 48) Drilling and International & Alaska Drilling. For Rental Tools Services business reports two segments namely U.S. Rental Tools and International Rental Tools. In the Drilling Services business, the company drill oil, natural gas, and geothermal wells. In Rental business, it provides rental equipment and services to exploration & production companies, drilling contractors and service companies on land and offshore in the United States.