Patterson-UTI Energy, Inc. (PTEN) to Post FY2018 Earnings of ($0.19) Per Share, Capital One Financial Corporation Forecasts

Patterson-UTI Energy, Inc. (NASDAQ:PTEN) – Investment analysts at Capital One Financial Corporation dropped their FY2018 earnings per share estimates for Patterson-UTI Energy in a research note issued to investors on Monday. Capital One Financial Corporation analyst L. Lemoine now anticipates that the oil and gas company will earn ($0.19) per share for the year, down from their previous forecast of $0.25. Capital One Financial Corporation has a “Equal Weight” rating on the stock.

A number of other research firms have also commented on PTEN. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $29.00 price objective on shares of Patterson-UTI Energy in a research note on Thursday, July 20th. Jefferies Group LLC set a $26.00 price objective on shares of Patterson-UTI Energy and gave the stock a “buy” rating in a research note on Thursday, October 5th. Deutsche Bank AG began coverage on shares of Patterson-UTI Energy in a research note on Tuesday. They issued a “buy” rating and a $25.00 price objective for the company. Zacks Investment Research raised shares of Patterson-UTI Energy from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a research note on Wednesday. Finally, Citigroup Inc. set a $24.00 price objective on shares of Patterson-UTI Energy and gave the stock a “buy” rating in a research note on Thursday, October 5th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and eighteen have assigned a buy rating to the stock. Patterson-UTI Energy currently has a consensus rating of “Buy” and a consensus price target of $26.82.

COPYRIGHT VIOLATION NOTICE: “Patterson-UTI Energy, Inc. (PTEN) to Post FY2018 Earnings of ($0.19) Per Share, Capital One Financial Corporation Forecasts” was originally reported by Ticker Report and is owned by of Ticker Report. If you are accessing this report on another website, it was copied illegally and reposted in violation of U.S. and international copyright & trademark legislation. The legal version of this report can be accessed at https://www.tickerreport.com/banking-finance/2958095/patterson-uti-energy-inc-pten-to-post-fy2018-earnings-of-0-19-per-share-capital-one-financial-corporation-forecasts.html.

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 Thomson Reuters’ consensus estimate of ($0.30) by $0.09. The company had revenue of $579.00 million during the quarter, compared to the consensus estimate of $556.47 million. Patterson-UTI Energy had a negative return on equity of 10.03% and a negative net margin of 23.78%. Patterson-UTI Energy’s revenue was up 198.5% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.58) EPS.

The business also recently declared a quarterly dividend, which was paid on Thursday, September 21st. Shareholders of record on Thursday, September 7th were given a $0.02 dividend. The ex-dividend date was Wednesday, September 6th. This represents a $0.08 annualized dividend and a yield of 0.39%. Patterson-UTI Energy’s dividend payout ratio is -4.06%.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its position in Patterson-UTI Energy by 22.8% in the 2nd quarter. Vanguard Group Inc. now owns 16,761,217 shares of the oil and gas company’s stock worth $338,409,000 after purchasing an additional 3,115,388 shares during the last quarter. BlackRock Inc. boosted its position in shares of Patterson-UTI Energy by 11.5% during the 2nd quarter. BlackRock Inc. now owns 16,122,084 shares of the oil and gas company’s stock valued at $325,506,000 after acquiring an additional 1,660,164 shares in the last quarter. Van ECK Associates Corp boosted its position in shares of Patterson-UTI Energy by 6.2% during the 2nd quarter. Van ECK Associates Corp now owns 9,547,599 shares of the oil and gas company’s stock valued at $192,766,000 after acquiring an additional 559,430 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Patterson-UTI Energy by 39.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 7,866,364 shares of the oil and gas company’s stock valued at $158,823,000 after acquiring an additional 2,224,128 shares in the last quarter. Finally, State Street Corp boosted its position in shares of Patterson-UTI Energy by 9.3% during the 2nd quarter. State Street Corp now owns 4,984,030 shares of the oil and gas company’s stock valued at $100,628,000 after acquiring an additional 423,443 shares in the last quarter. Institutional investors own 98.56% of the company’s stock.

Patterson-UTI Energy Company Profile

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)

Receive News & Ratings for Patterson-UTI Energy Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Patterson-UTI Energy Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

How to Trade on Forex – 8 Steps for Beginners
How to Trade on Forex – 8 Steps for Beginners
Super Nintendo World Theme Park Officially Starts Construction
Super Nintendo World Theme Park Officially Starts Construction
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Camera Zooms In and Can Recognize Faces
Camera Zooms In and Can Recognize Faces
Netflix Could See 150 Million Worldwide Subscribers
Netflix Could See 150 Million Worldwide Subscribers
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back


Leave a Reply

© 2006-2017 Ticker Report. Google+.