News articles about Patterson-UTI Energy (NASDAQ:PTEN) have trended positive on Sunday, Accern reports. Accern ranks the sentiment of press coverage by analyzing more than twenty million news and blog sources in real time. Accern ranks coverage of companies on a scale of negative one to one, with scores nearest to one being the most favorable. Patterson-UTI Energy earned a daily sentiment score of 0.37 on Accern’s scale. Accern also gave media coverage about the oil and gas company an impact score of 49 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the immediate future.
These are some of the news headlines that may have effected Accern Sentiment’s analysis:
- Patterson-UTI Energy, Inc. (NASDAQ:PTEN) Downgraded to Equal Weight at Capital One Financial Corporation (americanbankingnews.com)
- Unusual Activity Spotted in Patterson-UTI Energy Inc (PTEN) – Evergreen Caller (evergreencaller.com)
- Patterson-UTI Energy (PTEN) Q2 2017 Results – Earnings Call Transcript (seekingalpha.com)
- Investor Network: Patterson-UTI Energy, Inc. to Host Earnings Call (finance.yahoo.com)
- Edited Transcript of PTEN earnings conference call or presentation 27-Jul-17 2:00pm GMT (finance.yahoo.com)
A number of research firms 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. 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. Seaport Global Securities reaffirmed a “neutral” rating on shares of Patterson-UTI Energy in a research note on Thursday, July 20th. Zacks Investment Research downgraded shares of Patterson-UTI Energy from a “hold” rating to a “sell” rating in a research note on Thursday. Finally, Piper Jaffray Companies reaffirmed a “neutral” rating and issued a $20.50 target price (down previously from $22.00) on shares of Patterson-UTI Energy in a research note on Wednesday, July 12th. Three equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and fifteen have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $27.60.
Shares of Patterson-UTI Energy (PTEN) opened at 19.51 on Friday. Patterson-UTI Energy has a 52 week low of $18.12 and a 52 week high of $29.76. The firm has a 50-day moving average of $20.11 and a 200-day moving average of $23.63. The firm’s market cap is $3.22 billion.
Patterson-UTI Energy (NASDAQ:PTEN) last issued its quarterly earnings results on Thursday, July 27th. The oil and gas company reported ($0.21) earnings per share for the quarter, beating the consensus estimate of ($0.30) by $0.09. Patterson-UTI Energy had a negative return on equity of 11.28% and a negative net margin of 23.78%. The firm had revenue of $579 million during the quarter, compared to the consensus estimate of $556.47 million. During the same period last year, the company earned ($0.58) earnings per share. The company’s revenue was up 198.5% on a year-over-year basis. On average, analysts expect that Patterson-UTI Energy will post ($1.04) EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 21st. Stockholders of record on Thursday, September 7th will be issued a dividend of $0.02 per share. The ex-dividend date is Wednesday, September 6th. This represents a $0.08 annualized dividend and a dividend yield of 0.41%. Patterson-UTI Energy’s payout ratio is presently -4.06%.
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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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