Weekly Analysts’ Ratings Updates for Patterson-UTI Energy (PTEN)
Several analysts have recently updated their ratings and price targets for Patterson-UTI Energy (NASDAQ: PTEN):
- 10/11/2017 – Patterson-UTI Energy was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $23.00 price target on the stock. According to Zacks, “Patterson-UTI Energy is one of the largest North American land drilling contractor, having a large, high-quality fleet of drilling rigs. The company’s technologically advanced ‘Apex’ rigs are the key to its success. Patterson-UTI’s proprietary design makes the rigs move faster than conventional rigs, drill quicker and more efficiently than conventional rigs, and allows for a safer operating environment. As such, these rigs are better suited for the new demands of the exploration business and, therefore, command higher dayrates and utilization than rigs from other land drillers. We believe Patterson-UTI's acquisition of smaller rival Seventy Seven Energy will bolster its scale and customer base, while helping to enhance its geographic footprint to most active basins in the U.S. “
- 10/10/2017 – Patterson-UTI Energy is now covered by analysts at Deutsche Bank AG. They set a “buy” rating and a $25.00 price target on the stock.
- 10/5/2017 – Patterson-UTI Energy was given a new $24.00 price target on by analysts at Citigroup Inc.. They now have a “buy” rating on the stock.
- 10/5/2017 – 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.
- 10/3/2017 – Patterson-UTI Energy had its “buy” rating reaffirmed by analysts at SunTrust Banks, Inc.. They now have a $25.00 price target on the stock, down previously from $33.00.
- 9/22/2017 – Patterson-UTI Energy had its price target lowered by analysts at Credit Suisse Group from $22.00 to $20.00. They now have a “neutral” rating on the stock.
- 9/17/2017 – 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.
- 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.
Shares of Patterson-UTI Energy, Inc. (NASDAQ PTEN) opened at 21.31 on Thursday. Patterson-UTI Energy, Inc. has a 1-year low of $14.83 and a 1-year high of $29.76. The company has a 50-day moving average price of $18.64 and a 200-day moving average price of $20.28. The stock’s market cap is $4.51 billion.
Patterson-UTI Energy (NASDAQ:PTEN) last posted its quarterly earnings data on Thursday, July 27th. The oil and gas company reported ($0.21) EPS for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.09. The firm had revenue of $579.00 million during the quarter, compared to analyst estimates of $556.47 million. Patterson-UTI Energy had a negative net margin of 23.78% and a negative return on equity of 10.03%. The company’s revenue was up 198.5% on a year-over-year basis. During the same quarter last year, the business posted ($0.58) EPS. On average, equities analysts expect that Patterson-UTI Energy, Inc. will post ($0.90) earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 21st. Shareholders of record on Thursday, September 7th were paid a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.38%. The ex-dividend date of this dividend was Wednesday, September 6th. Patterson-UTI Energy’s dividend payout ratio (DPR) 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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