FY2017 Earnings Estimate for Patterson-UTI Energy, Inc. (PTEN) Issued By Seaport Global Securities

Patterson-UTI Energy, Inc. (NASDAQ:PTEN) – Equities research analysts at Seaport Global Securities upped their FY2017 earnings per share (EPS) estimates for Patterson-UTI Energy in a research note issued on Monday. Seaport Global Securities analyst S. Randhawa now expects that the oil and gas company will earn ($0.82) per share for the year, up from their previous estimate of ($0.83). Seaport Global Securities currently has a “Neutral” rating on the stock. Seaport Global Securities also issued estimates for Patterson-UTI Energy’s Q1 2018 earnings at ($0.09) EPS, Q2 2018 earnings at ($0.08) EPS, Q3 2018 earnings at ($0.03) EPS, Q4 2018 earnings at ($0.01) EPS, FY2018 earnings at ($0.20) EPS, Q1 2019 earnings at $0.01 EPS, Q2 2019 earnings at $0.03 EPS, Q3 2019 earnings at $0.07 EPS and FY2019 earnings at $0.18 EPS.

PTEN has been the topic of a number of other reports. Cowen and Company set a $24.00 target price on Patterson-UTI Energy and gave the stock a “hold” rating in a report on Wednesday, October 18th. 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 report on Monday, July 31st. They noted that the move was a valuation call. Piper Jaffray Companies reissued a “buy” rating on shares of Patterson-UTI Energy in a research report on Tuesday, September 5th. Citigroup Inc. set a $24.00 price target on Patterson-UTI Energy and gave the company a “buy” rating in a research report on Thursday, October 5th. Finally, J P Morgan Chase & Co raised Patterson-UTI Energy from a “neutral” rating to an “overweight” rating and set a $24.00 price target for the company in a research report on Tuesday, September 5th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and eighteen have issued a buy rating to the stock. Patterson-UTI Energy currently has an average rating of “Buy” and an average target price of $26.71.

TRADEMARK VIOLATION NOTICE: “FY2017 Earnings Estimate for Patterson-UTI Energy, Inc. (PTEN) Issued By Seaport Global Securities” was first posted by Community Financial News and is the sole property of of Community Financial News. If you are viewing this report on another publication, it was stolen and reposted in violation of international trademark & copyright legislation. The correct version of this report can be viewed at https://www.com-unik.info/2017/11/03/fy2017-earnings-estimate-for-patterson-uti-energy-inc-pten-issued-by-seaport-global-securities.html. Patterson-UTI Energy (NASDAQ:PTEN) last posted its quarterly earnings data on Thursday, October 26th. The oil and gas company reported ($0.13) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.17) by $0.04. Patterson-UTI Energy had a negative net margin of 14.73% and a negative return on equity of 7.80%. The company had revenue of $684.99 million for the quarter, compared to the consensus estimate of $688.05 million. During the same period last year, the company earned ($0.58) earnings per share. The firm’s revenue was up 232.3% compared to the same quarter last year.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. World Asset Management Inc increased its holdings in Patterson-UTI Energy by 2.5% in the 2nd quarter. World Asset Management Inc now owns 12,324 shares of the oil and gas company’s stock worth $249,000 after acquiring an additional 295 shares during the last quarter. Capstone Asset Management Co. increased its holdings in Patterson-UTI Energy by 3.4% in the 2nd quarter. Capstone Asset Management Co. now owns 13,954 shares of the oil and gas company’s stock worth $282,000 after acquiring an additional 460 shares during the last quarter. Arizona State Retirement System increased its holdings in Patterson-UTI Energy by 0.7% in the 2nd quarter. Arizona State Retirement System now owns 69,700 shares of the oil and gas company’s stock worth $1,407,000 after acquiring an additional 500 shares during the last quarter. State Treasurer State of Michigan increased its holdings in Patterson-UTI Energy by 0.9% in the 2nd quarter. State Treasurer State of Michigan now owns 68,200 shares of the oil and gas company’s stock worth $1,377,000 after acquiring an additional 600 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in Patterson-UTI Energy by 7.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 9,303 shares of the oil and gas company’s stock worth $225,000 after acquiring an additional 683 shares during the last quarter. 98.70% of the stock is owned by institutional investors.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 21st. Investors of record on Thursday, December 7th will be issued a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.40%. The ex-dividend date is Wednesday, December 6th. Patterson-UTI Energy’s dividend payout ratio (DPR) is currently -5.16%.

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