Patterson-UTI Energy PT Raised to $33.00 (PTEN)
Susquehanna boosted their price objective on shares of Patterson-UTI Energy (NASDAQ:PTEN) from $29.00 to $33.00 in a research note issued on Friday, Analyst Ratings.Net reports. Susquehanna’s target price points to a potential upside of 17.27% from the stock’s previous close.
PTEN has been the subject of a number of other recent research reports. Analysts at RBC Capital raised their price target on shares of Patterson-UTI Energy from $29.00 to $33.00 in a research note to investors on Friday. They now have an “outperform” rating on the stock. Separately, analysts at Global Hunter Securities upgraded shares of Patterson-UTI Energy from a “neutral” rating to a “buy” rating in a research note to investors on Friday. They now have a $33.00 price target on the stock, up previously from $22.00. Finally, analysts at Guggenheim downgraded shares of Patterson-UTI Energy from a “neutral” rating to a “sell” rating in a research note to investors on Tuesday, January 28th. They now have a $19.00 price target on the stock, down previously from $24.00. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $27.26.
Patterson-UTI Energy (NASDAQ:PTEN) traded up 0.97% on Friday, hitting $28.14. 5,396,382 shares of the company’s stock traded hands. Patterson-UTI Energy has a 1-year low of $18.83 and a 1-year high of $28.64. The stock has a 50-day moving average of $25.3 and a 200-day moving average of $22.95. The company has a market cap of $4.015 billion and a P/E ratio of 17.90.
Patterson-UTI Energy (NASDAQ:PTEN) last announced its earnings results on Thursday, February 6th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by $0.11. The company had revenue of $659.00 million for the quarter, compared to the consensus estimate of $654.60 million. During the same quarter last year, the company posted $0.40 earnings per share. Patterson-UTI Energy’s revenue was up .9% compared to the same quarter last year. Analysts expect that Patterson-UTI Energy will post $1.18 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, March 27th. Shareholders of record on Wednesday, March 12th will be paid a dividend of 0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.42%. The ex-dividend date is Monday, March 10th. This is a positive change from Patterson-UTI Energy’s previous quarterly dividend of $0.05.
Patterson-UTI Energy, Inc (NASDAQ:PTEN) owns and operates fleets of land-based drilling rigs in the United States.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.