Which Analysts Are Watching Patterson-UTI Energy, Inc. (NASDAQ:PTEN)?Por Cirilo Laguardia Abr 21, 2017
PTEN has been the subject of a number of recent research reports. Zacks Investment Research raised Patterson-UTI Energy from a "hold" rating to a "buy" rating and set a $30.00 price objective for the company in a report on Wednesday, December 28th. The analysts estimated sales for the higher end at 536 million and lower end at 320.39 million while the year ago reported sale was 305.71 million. They noted that the move was a valuation call.
In trading on Thursday, shares of Patterson-UTI Energy Inc.
Patterson-UTI Energy, Inc. (NASDAQ:PTEN) stock price declined -2.86% to finalize at $22.72 throughout previous buying and selling session. It opened the session with a $23.39 price tag, later ranging from $22.65 to $23.565, the range at which the stock has traded at throughout the day.
A number of large investors have recently bought and sold shares of the company. Van ECK Associates Corp increased its position in shares of Patterson-UTI Energy by 33.6% in the fourth quarter.
All things being equal, stocks with higher earnings-per-share growth rates are generally more desirable than those with slower earnings-per-share growth rates. Additionally, Patterson-UTI has entered into an contract with its lenders by which the accessible commitment under its revolving credit facility was surged to $632 million through September 2017, and to $490 million through March 2019. Discovery Capital Management LLC CT acquired a new position in shares of Patterson-UTI Energy during the fourth quarter valued at $34,202,000.
12/13/2016 - Patterson-UTI Energy, Inc. was upgraded to "equal weight" by analysts at Stephens. State Treasurer State of MI now owns 59,500 shares of the oil and gas company's stock valued at $1,331,000 after buying an additional 400 shares during the period.
Patterson-UTI Energy, Inc. was upgraded to "buy" by analysts at Instinet. Similarly, the company's last 5 years high P/E ratio is 19.76 and low P/E is 9.52, whereas, the industry's and sector's high P/E for the past year is 21.52 and 27.01 respectively and low P/E ratio for the last 5 years is 6.13 for the industry and 10.03 for the Sector. If you are reading this piece on another site, it was stolen and reposted in violation of USA and worldwide copyright & trademark legislation. The legal version of this story can be viewed at https://www.thecerbatgem.com/2017/04/19/patterson-uti-energy-inc-pten-receives-consensus-recommendation-of-hold-from-analysts-updated-updated.html. The company's stock had a trading volume of 3,191,023 shares. The total market capitalization remained at $4.96 billion. The stock appeared -10.34% below its 52-week highs and is down -3.43% for the last five trades.
Patterson-UTI Energy (NASDAQ:PTEN) last issued its earnings results on Thursday, February 9th. The oil and gas company reported ($0.53) EPS for the quarter, topping the consensus estimate of ($0.54) by $0.01.
The company's net profit margin stands at 0.90% whereas its return on equity (ROE) is 5.00%. The business earned $247 million during the quarter, compared to analyst estimates of $228.83 million. During the same period past year, the business posted ($0.40) earnings per share. The company's quarterly revenue was down 27.1% on a year-over-year basis. Blackrock Mngmt Limited Liability invested in 0% or 1,076 shares. This represents a $0.08 annualized dividend and a yield of 0.36%. The ex-dividend date of this dividend was Monday, March 6th.
12/07/2016 - Patterson-UTI Energy, Inc. was upgraded to "neutral" by analysts at JP Morgan.
Patterson-UTI Energy Inc had 59 analyst reports since July 28, 2015 according to SRatingsIntel. Our contract drilling business operates in the continental United States and western Canada, and our pressure pumping and oilfield rental tools businesses operate primarily in Texas and the Mid-Continent and Appalachian regions. We also provide drilling rig pipe handling technology to drilling contractors in North America and other select markets. The Contract Drilling segment markets its contract drilling services to independent and other oil and natural gas operators.
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