News coverage about Patterson-UTI Energy (NASDAQ:PTEN) has trended somewhat positive on Tuesday, Accern reports. Accern scores the sentiment of press coverage by analyzing more than twenty million blog and news sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Patterson-UTI Energy earned a news sentiment score of 0.14 on Accern’s scale. Accern also gave news headlines about the oil and gas company an impact score of 47.4038926756723 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the next several days.
These are some of the news headlines that may have impacted Accern Sentiment’s rankings:
- Patterson-UTI Energy, Inc. (PTEN) Given Average Recommendation of “Buy” by Brokerages (americanbankingnews.com)
- Investor’s Roundup (P/E Analysis) – Patterson-UTI Energy Inc (NASDAQ: PTEN) (stocksmarketcap.com)
- How Profitable is Patterson-UTI Energy, Inc. (NasdaqGS:PTEN)? (parkcitycaller.com)
- Stock’s Technical Levels under Review – Patterson-UTI Energy (NASDAQ: PTEN) (financerater.com)
- Analysts’ Recommendation in Spotlight – Patterson-UTI Energy Inc (NASDAQ: PTEN) (stockspen.com)
Several research analysts have commented on PTEN shares. BMO Capital Markets raised shares of Patterson-UTI Energy from a “market perform” rating to a “buy” rating in a research note on Wednesday, February 14th. Zacks Investment Research downgraded shares of Patterson-UTI Energy from a “hold” rating to a “sell” rating in a research note on Tuesday, February 20th. ValuEngine downgraded shares of Patterson-UTI Energy from a “hold” rating to a “sell” rating in a research note on Friday, February 2nd. BidaskClub downgraded shares of Patterson-UTI Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, January 24th. Finally, Citigroup set a $24.00 target price on shares of Patterson-UTI Energy and gave the stock a “buy” rating in a research note on Friday, February 9th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $25.94.
Shares of PTEN stock opened at $23.07 on Tuesday. Patterson-UTI Energy has a 12 month low of $14.83 and a 12 month high of $25.03. The firm has a market cap of $5.10 billion, a PE ratio of -28.84 and a beta of 1.20. The company has a current ratio of 1.73, a quick ratio of 1.61 and a debt-to-equity ratio of 0.28.
Patterson-UTI Energy (NASDAQ:PTEN) last announced its earnings results on Thursday, April 26th. The oil and gas company reported ($0.16) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.09) by ($0.07). Patterson-UTI Energy had a net margin of 1.22% and a negative return on equity of 3.54%. The business had revenue of $809.16 million for the quarter, compared to the consensus estimate of $793.39 million. During the same quarter last year, the firm posted ($0.40) EPS. The business’s quarterly revenue was up 165.1% on a year-over-year basis. analysts expect that Patterson-UTI Energy will post -0.09 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 21st. Stockholders of record on Thursday, June 7th will be issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date of this dividend is Wednesday, June 6th. This is a boost from Patterson-UTI Energy’s previous quarterly dividend of $0.02. Patterson-UTI Energy’s payout ratio is -10.00%.
In other news, Director Terry H. Hunt sold 10,000 shares of the business’s stock in a transaction on Tuesday, March 13th. The shares were sold at an average price of $19.46, for a total transaction of $194,600.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 3.70% of the company’s stock.
Patterson-UTI Energy Company Profile
Patterson-UTI Energy, Inc, through its subsidiaries, provides onshore contract drilling services to oil and natural gas operators in the United States and Canada. It operates through two segments, Contract Drilling and Pressure Pumping. The Contract Drilling segment markets its contract drilling services primarily in Texas, southeastern New Mexico, northern Louisiana, Colorado, Wyoming, North Dakota, western Oklahoma, Pennsylvania, Ohio, West Virginia, and western Canada.
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