Equities Analysts Issue Forecasts for Patterson-UTI Energy, Inc.’s Q2 2018 Earnings (PTEN)

Patterson-UTI Energy, Inc. (NASDAQ:PTEN) – Research analysts at Capital One Financial Corporation issued their Q2 2018 EPS estimates for shares of Patterson-UTI Energy in a research report issued on Friday. Capital One Financial Corporation analyst L. Lemoine expects that the oil and gas company will post earnings per share of $0.01 for the quarter. Capital One Financial Corporation has a “Equal Weight” rating on the stock. Capital One Financial Corporation also issued estimates for Patterson-UTI Energy’s Q3 2018 earnings at $0.18 EPS, Q4 2018 earnings at $0.18 EPS and FY2018 earnings at $0.25 EPS.

Patterson-UTI Energy (NASDAQ:PTEN) last posted its quarterly earnings data on Thursday, July 27th. The oil and gas company reported ($0.21) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.30) by $0.09. The business had revenue of $579 million during the quarter, compared to the consensus estimate of $556.47 million. Patterson-UTI Energy had a negative return on equity of 11.28% and a negative net margin of 23.78%. Patterson-UTI Energy’s quarterly revenue was up 198.5% on a year-over-year basis. During the same period in the prior year, the business posted ($0.58) earnings per share. ILLEGAL ACTIVITY NOTICE: This news story was reported by Community Financial News and is owned by of Community Financial News. If you are viewing this news story on another domain, it was copied illegally and republished in violation of international copyright and trademark legislation. The legal version of this news story can be read at https://www.com-unik.info/2017/08/19/equities-analysts-issue-forecasts-for-patterson-uti-energy-inc-s-q2-2018-earnings-pten-updated-updated.html.

Several other analysts also recently weighed in on PTEN. BidaskClub downgraded shares of Patterson-UTI Energy from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Royal Bank Of Canada set a $35.00 price target on shares of Patterson-UTI Energy and gave the stock a “buy” rating in a research note on Saturday, June 24th. UBS AG reissued a “buy” rating and issued a $25.00 price target (down from $35.00) on shares of Patterson-UTI Energy in a research note on Monday. They noted that the move was a valuation call. Seaport Global Securities reissued a “neutral” rating on shares of Patterson-UTI Energy in a research note on Thursday, July 20th. Finally, Zacks Investment Research downgraded shares of Patterson-UTI Energy from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Three research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and fifteen have given a buy rating to the company. Patterson-UTI Energy currently has an average rating of “Hold” and a consensus target price of $26.84.

Patterson-UTI Energy (NASDAQ:PTEN) traded down 1.163% during mid-day trading on Monday, reaching $19.115. The company had a trading volume of 2,705,085 shares. The firm’s market capitalization is $3.15 billion. The firm has a 50-day moving average price of $20.08 and a 200 day moving average price of $23.50. Patterson-UTI Energy has a 12-month low of $17.61 and a 12-month high of $29.76.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 21st. Shareholders of record on Thursday, September 7th will be issued a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date is Wednesday, September 6th. Patterson-UTI Energy’s dividend payout ratio (DPR) is presently -4.06%.

A number of large investors have recently made changes to their positions in the company. BlackRock Inc. boosted its stake in shares of Patterson-UTI Energy by 11,291.0% in the first quarter. BlackRock Inc. now owns 14,461,920 shares of the oil and gas company’s stock worth $350,991,000 after buying an additional 14,334,961 shares during the period. Vanguard Group Inc. boosted its stake in shares of Patterson-UTI Energy by 14.4% in the first quarter. Vanguard Group Inc. now owns 13,645,829 shares of the oil and gas company’s stock worth $331,184,000 after buying an additional 1,719,414 shares during the period. Van ECK Associates Corp boosted its stake in shares of Patterson-UTI Energy by 5.2% in the first quarter. Van ECK Associates Corp now owns 8,988,169 shares of the oil and gas company’s stock worth $218,143,000 after buying an additional 442,699 shares during the period. Wells Fargo & Company MN boosted its stake in shares of Patterson-UTI Energy by 8.3% in the first quarter. Wells Fargo & Company MN now owns 6,150,343 shares of the oil and gas company’s stock worth $149,267,000 after buying an additional 468,960 shares during the period. Finally, Jennison Associates LLC boosted its stake in shares of Patterson-UTI Energy by 51.8% in the first quarter. Jennison Associates LLC now owns 5,801,622 shares of the oil and gas company’s stock worth $140,805,000 after buying an additional 1,979,263 shares during the period. Institutional investors and hedge funds own 85.05% of the company’s stock.

About Patterson-UTI Energy

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)

What are top analysts saying about Patterson-UTI Energy Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Patterson-UTI Energy Inc. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit