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.
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.
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