ValuEngine cut shares of Patterson-UTI Energy (NASDAQ:PTEN) from a hold rating to a sell rating in a report published on Friday, February 2nd.
Other equities analysts also recently issued reports about the stock. Zacks Investment Research upgraded shares of Patterson-UTI Energy from a hold rating to a buy rating and set a $23.00 price objective for the company in a research note on Wednesday, October 11th. Deutsche Bank assumed coverage on shares of Patterson-UTI Energy in a research note on Tuesday, October 10th. They issued a buy rating and a $25.00 target price for the company. Jefferies Group set a $26.00 target price on shares of Patterson-UTI Energy and gave the company a buy rating in a research note on Thursday, October 5th. Citigroup set a $24.00 target price on shares of Patterson-UTI Energy and gave the company a buy rating in a research note on Thursday, October 5th. Finally, Piper Jaffray Companies set a $24.00 target price on shares of Patterson-UTI Energy and gave the company a buy rating in a research note on Tuesday, October 31st. Two analysts have rated the stock with a sell rating, six have given a hold rating and twenty have given a buy rating to the company. The company presently has a consensus rating of Buy and a consensus price target of $27.00.
Shares of Patterson-UTI Energy (NASDAQ:PTEN) opened at $18.15 on Friday. The company has a market cap of $4,040.00, a price-to-earnings ratio of -139.62 and a beta of 1.02. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.23 and a quick ratio of 1.16. Patterson-UTI Energy has a 1 year low of $14.83 and a 1 year high of $29.76.
Patterson-UTI Energy (NASDAQ:PTEN) last posted its quarterly earnings data on Thursday, February 8th. The oil and gas company reported ($0.10) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.08) by ($0.02). Patterson-UTI Energy had a negative return on equity of 5.07% and a net margin of 0.25%. The business had revenue of $787.33 million for the quarter, compared to analyst estimates of $764.84 million. During the same quarter in the prior year, the company earned ($0.53) earnings per share. The company’s quarterly revenue was up 218.9% on a year-over-year basis. research analysts expect that Patterson-UTI Energy will post 0.05 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 22nd. Shareholders of record on Thursday, March 8th will be paid a dividend of $0.02 per share. The ex-dividend date is Wednesday, March 7th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.44%. Patterson-UTI Energy’s payout ratio is presently -61.54%.
In other Patterson-UTI Energy news, Director Tiffany J. Thom sold 2,574 shares of the business’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $23.08, for a total transaction of $59,407.92. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 4.60% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the business. PNC Financial Services Group Inc. grew its stake in shares of Patterson-UTI Energy by 11.7% during the second quarter. PNC Financial Services Group Inc. now owns 10,392 shares of the oil and gas company’s stock worth $210,000 after buying an additional 1,089 shares during the last quarter. Teton Advisors Inc. grew its stake in shares of Patterson-UTI Energy by 2.7% during the fourth quarter. Teton Advisors Inc. now owns 84,839 shares of the oil and gas company’s stock worth $1,952,000 after buying an additional 2,193 shares during the last quarter. Eqis Capital Management Inc. grew its stake in shares of Patterson-UTI Energy by 12.4% during the fourth quarter. Eqis Capital Management Inc. now owns 20,497 shares of the oil and gas company’s stock worth $472,000 after buying an additional 2,265 shares during the last quarter. World Asset Management Inc lifted its holdings in shares of Patterson-UTI Energy by 22.5% during the third quarter. World Asset Management Inc now owns 15,096 shares of the oil and gas company’s stock worth $316,000 after purchasing an additional 2,772 shares during the period. Finally, LS Investment Advisors LLC lifted its holdings in shares of Patterson-UTI Energy by 22.5% during the third quarter. LS Investment Advisors LLC now owns 16,535 shares of the oil and gas company’s stock worth $346,000 after purchasing an additional 3,038 shares during the period. 97.79% of the stock is currently owned by hedge funds and other institutional investors.
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Patterson-UTI Energy Company Profile
Patterson-UTI Energy, Inc is an oilfield services company. The Company owns and operates a fleet of land-based drilling rigs and a fleet of pressure pumping equipment in the United States. The Company’s segments include Contract Drilling, Pressure Pumping and Other operations. The Contract Drilling segment markets its contract drilling services to independent and other oil and natural gas operators.
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