Patterson-UTI Energy Reaches New 12-Month High at $35.63 (PTEN)
Patterson-UTI Energy (NASDAQ:PTEN)’s share price hit a new 52-week high during trading on Tuesday , AnalystRatingsNetwork reports. The stock traded as high as $35.63 and last traded at $35.29, with a volume of 1,100,650 shares traded. The stock had previously closed at $34.94.
PTEN has been the subject of a number of recent research reports. Analysts at Zacks reiterated a “neutral” rating on shares of Patterson-UTI Energy in a research note on Wednesday, June 25th. They now have a $35.00 price target on the stock. Separately, analysts at Wunderlich raised their price target on shares of Patterson-UTI Energy from $29.00 to $34.00 in a research note on Monday, June 9th. They now have a “hold” rating on the stock. Finally, analysts at Cowen and Company raised their price target on shares of Patterson-UTI Energy from $29.00 to $34.00 in a research note on Monday, April 28th. Four investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Patterson-UTI Energy currently has a consensus rating of “Buy” and a consensus price target of $31.97.
The stock has a 50-day moving average of $33.37 and a 200-day moving average of $29.84. The company has a market cap of $5.063 billion and a price-to-earnings ratio of 30.68.
Patterson-UTI Energy (NASDAQ:PTEN) last released its earnings data on Thursday, April 24th. The company reported $0.24 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.25 by $0.01. The company had revenue of $678.00 million for the quarter, compared to the consensus estimate of $679.52 million. During the same quarter last year, the company posted $0.38 earnings per share. Patterson-UTI Energy’s revenue was up 1.7% compared to the same quarter last year. Analysts expect that Patterson-UTI Energy will post $1.42 EPS for the current fiscal year.
In other Patterson-UTI Energy news, Director Cloyce A. Talbott sold 400,000 shares of the company’s stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $34.49, for a total value of $13,796,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Patterson-UTI Energy, Inc (NASDAQ:PTEN) owns and operates fleets of land-based drilling rigs in the United States.
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