Several brokerages have updated their recommendations and price targets on shares of Patterson-UTI Energy (NASDAQ: PTEN) in the last few weeks:

  • 9/5/2017 – Patterson-UTI Energy was upgraded by analysts at J P Morgan Chase & Co from a “neutral” rating to an “overweight” rating. They now have a $24.00 price target on the stock.
  • 9/5/2017 – Patterson-UTI Energy had its “buy” rating reaffirmed by analysts at Piper Jaffray Companies.
  • 8/31/2017 – Patterson-UTI Energy is now covered by analysts at Societe Generale. They set a “buy” rating and a $22.00 price target on the stock.
  • 8/30/2017 – Patterson-UTI Energy was upgraded by analysts at Citigroup Inc. from a “neutral” rating to a “buy” rating. They now have a $19.00 price target on the stock, down previously from $21.00.
  • 8/8/2017 – Patterson-UTI Energy was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating.
  • 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 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 downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 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.
  • 7/27/2017 – Patterson-UTI Energy was downgraded by analysts at Capital One Financial Corporation from an “overweight” rating to an “equal weight” rating.
  • 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.
  • 7/20/2017 – Patterson-UTI Energy had its “neutral” rating reaffirmed by analysts at Seaport Global Securities.

Patterson-UTI Energy, Inc. (NASDAQ PTEN) traded up 1.82% on Thursday, hitting $18.47. The stock had a trading volume of 4,490,436 shares. The company’s market capitalization is $3.91 billion. The firm has a 50-day moving average of $17.21 and a 200 day moving average of $21.15. Patterson-UTI Energy, Inc. has a 52 week low of $14.83 and a 52 week high of $29.76.

Patterson-UTI Energy (NASDAQ:PTEN) last announced its quarterly earnings data on Thursday, July 27th. The oil and gas company reported ($0.21) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.30) by $0.09. Patterson-UTI Energy had a negative return on equity of 10.03% and a negative net margin of 23.78%. The business had revenue of $579.00 million for the quarter, compared to the consensus estimate of $556.47 million. During the same period in the previous year, the business earned ($0.58) earnings per share. The business’s revenue was up 198.5% on a year-over-year basis. On average, analysts predict that Patterson-UTI Energy, Inc. will post ($0.92) 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 annualized dividend and a dividend yield of 0.43%. Patterson-UTI Energy’s payout ratio is -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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