A number of firms have modified their ratings and price targets on shares of Patterson-UTI Energy (NASDAQ: PTEN) recently:

  • 7/31/2017 – Patterson-UTI Energy had its “buy” rating reaffirmed by analysts at UBS AG. They now have a $25.00 price target on the stock, down previously from $35.00. They noted that the move was a valuation call. They noted that the move was a valuation call.
  • 7/29/2017 – Patterson-UTI Energy was given a new $26.00 price target on by analysts at Jefferies Group LLC. They now have a “buy” rating on the stock.
  • 7/27/2017 – Patterson-UTI Energy was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 7/27/2017 – Patterson-UTI Energy was downgraded by analysts at Capital One Financial Corporation from an “overweight” rating to an “equal weight” rating.
  • 7/27/2017 – Patterson-UTI Energy was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Despite early signs of recovery in North America, the current oilfield environment remains one of the most difficult. With new competitors entering the market and drilling contractors too rattled to make new investment decisions, oilfield machineries and equipment suppliers like Patterson-UTI Energy have seen their pricing fall drastically. As it is, the ongoing weakness in commodity prices – despite the OPEC-driven recovery – has curtailed energy drilling and equipment demand thereby affecting Patterson-UTI’s revenues, earnings and cash flow. Given these headwinds, we see PTEN as a risky bet that ordinary investors should exit.”
  • 7/27/2017 – Patterson-UTI Energy was given a new $22.00 price target on by analysts at Piper Jaffray Companies. They now have a “buy” rating on the stock.
  • 7/20/2017 – Patterson-UTI Energy had its “neutral” rating reaffirmed by analysts at Seaport Global Securities.
  • 7/20/2017 – Patterson-UTI Energy had its “buy” rating reaffirmed by analysts at Royal Bank Of Canada. They now have a $29.00 price target on the stock.
  • 7/13/2017 – Patterson-UTI Energy had its “hold” rating reaffirmed by analysts at BMO Capital Markets. They now have a $23.00 price target on the stock.
  • 7/12/2017 – Patterson-UTI Energy had its “neutral” rating reaffirmed by analysts at Piper Jaffray Companies. They now have a $20.50 price target on the stock, down previously from $22.00.
  • 7/11/2017 – Patterson-UTI Energy had its “hold” rating reaffirmed by analysts at Cowen and Company. They now have a $24.00 price target on the stock.
  • 6/24/2017 – Patterson-UTI Energy was given a new $35.00 price target on by analysts at Royal Bank Of Canada. They now have a “buy” rating on the stock.
  • 6/21/2017 – Patterson-UTI Energy was downgraded by analysts at Seaport Global Securities from a “buy” rating to a “neutral” rating. They now have a $21.00 price target on the stock, down previously from $29.00.
  • 6/13/2017 – Patterson-UTI Energy was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.

Patterson-UTI Energy, Inc. (NASDAQ:PTEN) traded down 4.03% during trading on Monday, hitting $18.32. The company’s stock had a trading volume of 4,611,742 shares. Patterson-UTI Energy, Inc. has a 12 month low of $18.12 and a 12 month high of $29.76. The firm’s market cap is $3.02 billion. The firm has a 50 day moving average of $20.03 and a 200 day moving average of $23.44.

Patterson-UTI Energy (NASDAQ:PTEN) last announced its quarterly earnings results on Thursday, July 27th. The oil and gas company reported ($0.21) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.30) by $0.09. The business had revenue of $579 million for the quarter, compared to analysts’ expectations of $556.47 million. Patterson-UTI Energy had a negative return on equity of 11.28% and a negative net margin of 23.78%. The business’s quarterly revenue was up 198.5% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.58) EPS. Equities research analysts predict that Patterson-UTI Energy, Inc. will post ($0.91) earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 21st. Stockholders of record on Thursday, September 7th will be given a $0.02 dividend. The ex-dividend date of this dividend is Wednesday, September 6th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.44%. Patterson-UTI Energy’s dividend payout ratio is currently -4.06%.

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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