Jefferies Group Comments on Patterson-UTI Energy, Inc.’s Q2 2018 Earnings (PTEN)

Patterson-UTI Energy, Inc. (NASDAQ:PTEN) – Stock analysts at Jefferies Group issued their Q2 2018 earnings per share estimates for Patterson-UTI Energy in a note issued to investors on Thursday. Jefferies Group analyst B. Handler expects that the oil and gas company will earn $0.01 per share for the quarter. Jefferies Group has a “Buy” rating and a $25.00 price objective on the stock.

A number of other research firms also recently weighed in on PTEN. BidaskClub raised shares of Patterson-UTI Energy from a “hold” rating to a “buy” rating in a research report on Saturday, January 13th. TheStreet raised shares of Patterson-UTI Energy from a “d+” rating to a “c-” rating in a research report on Monday, December 4th. Scotiabank raised shares of Patterson-UTI Energy from a “sector perform” rating to a “sector outperform” rating in a research report on Friday, January 12th. Credit Suisse Group increased their target price on shares of Patterson-UTI Energy from $17.00 to $21.00 and gave the company a “neutral” rating in a research report on Friday, October 27th. Finally, Howard Weil upgraded shares of Patterson-UTI Energy from a “sector perform” rating to a “sector outperform” rating in a research note on Friday, January 12th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $26.84.

Patterson-UTI Energy (PTEN) opened at $18.04 on Monday. Patterson-UTI Energy has a 52-week low of $14.83 and a 52-week high of $29.76. The firm has a market cap of $4,010.00, a P/E ratio of -11.64 and a beta of 1.02. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.16 and a current ratio of 1.23.

Patterson-UTI Energy (NASDAQ:PTEN) last released its earnings results on Thursday, February 8th. The oil and gas company reported ($0.10) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.08) by ($0.02). Patterson-UTI Energy had a net margin of 0.25% and a negative return on equity of 5.07%. The company had revenue of $787.33 million for the quarter, compared to the consensus estimate of $764.84 million. During the same period in the prior year, the company earned ($0.53) earnings per share. The firm’s revenue was up 218.9% on a year-over-year basis.

Hedge funds and other institutional investors have recently bought and sold shares of the business. BNP Paribas Arbitrage SA lifted its stake in Patterson-UTI Energy by 14.1% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 261,427 shares of the oil and gas company’s stock worth $5,474,000 after purchasing an additional 32,293 shares in the last quarter. 361 Capital LLC lifted its stake in Patterson-UTI Energy by 9.2% in the 3rd quarter. 361 Capital LLC now owns 82,388 shares of the oil and gas company’s stock worth $1,725,000 after purchasing an additional 6,914 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its stake in Patterson-UTI Energy by 26.7% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 771,726 shares of the oil and gas company’s stock worth $16,160,000 after purchasing an additional 162,677 shares in the last quarter. State Treasurer State of Michigan lifted its stake in Patterson-UTI Energy by 17.6% in the 3rd quarter. State Treasurer State of Michigan now owns 80,200 shares of the oil and gas company’s stock worth $1,679,000 after purchasing an additional 12,000 shares in the last quarter. Finally, New York State Common Retirement Fund lifted its stake in Patterson-UTI Energy by 4.7% in the 3rd quarter. New York State Common Retirement Fund now owns 1,179,300 shares of the oil and gas company’s stock worth $24,695,000 after purchasing an additional 53,473 shares in the last quarter. Institutional investors and hedge funds own 98.46% of the company’s stock.

In other Patterson-UTI Energy news, Director Tiffany J. Thom sold 2,574 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $23.08, for a total value of $59,407.92. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 4.60% of the company’s stock.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 22nd. Investors of record on Thursday, March 8th will be paid a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date of this dividend is Wednesday, March 7th. Patterson-UTI Energy’s payout ratio is currently -5.16%.

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Patterson-UTI Energy Company Profile

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.

Earnings History and Estimates for Patterson-UTI Energy (NASDAQ:PTEN)

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