Patterson-UTI Energy, Inc. (NASDAQ:PTEN) Director Tiffany J. Thom sold 2,574 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $23.08, for a total value of $59,407.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Shares of Patterson-UTI Energy, Inc. (PTEN) opened at $23.62 on Friday. The company has a quick ratio of 1.16, a current ratio of 1.23 and a debt-to-equity ratio of 0.17. Patterson-UTI Energy, Inc. has a 1-year low of $14.83 and a 1-year high of $29.76. The company has a market cap of $5,250.00, a PE ratio of -15.24 and a beta of 1.08.
Patterson-UTI Energy (NASDAQ:PTEN) last released its earnings results on Thursday, October 26th. The oil and gas company reported ($0.13) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 7.31%. The firm had revenue of $684.99 million during the quarter, compared to analyst estimates of $688.05 million. During the same period last year, the business earned ($0.58) earnings per share. The business’s revenue was up 232.3% on a year-over-year basis. equities analysts anticipate that Patterson-UTI Energy, Inc. will post -0.8 EPS for the current fiscal year.
Hedge funds have recently added to or reduced their stakes in the company. Riverhead Capital Management LLC lifted its holdings in shares of Patterson-UTI Energy by 86.2% during the second quarter. Riverhead Capital Management LLC now owns 10,053 shares of the oil and gas company’s stock valued at $203,000 after purchasing an additional 4,653 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Patterson-UTI Energy by 11.7% during the second quarter. PNC Financial Services Group Inc. now owns 10,392 shares of the oil and gas company’s stock valued at $210,000 after purchasing an additional 1,089 shares during the last quarter. Madden Advisory Services Inc. purchased a new position in shares of Patterson-UTI Energy during the second quarter valued at approximately $236,000. Gluskin Sheff & Assoc Inc. lifted its holdings in shares of Patterson-UTI Energy by 7.1% during the second quarter. Gluskin Sheff & Assoc Inc. now owns 11,740 shares of the oil and gas company’s stock valued at $237,000 after purchasing an additional 780 shares during the last quarter. Finally, Pacad Investment Ltd. purchased a new position in shares of Patterson-UTI Energy during the second quarter valued at approximately $246,000. Hedge funds and other institutional investors own 97.71% of the company’s stock.
PTEN has been the topic of several recent analyst reports. Zacks Investment Research raised Patterson-UTI Energy from a “hold” rating to a “buy” rating and set a $23.00 target price on the stock in a research note on Wednesday, October 11th. Deutsche Bank initiated coverage on Patterson-UTI Energy in a research note on Tuesday, October 10th. They issued a “buy” rating and a $25.00 target price on the stock. Jefferies Group set a $26.00 target price on Patterson-UTI Energy and gave the stock a “buy” rating in a research note on Thursday, October 5th. Citigroup set a $24.00 target price on Patterson-UTI Energy and gave the stock a “buy” rating in a research note on Thursday, October 5th. Finally, SunTrust Banks reissued a “buy” rating and issued a $25.00 target price (down from $33.00) on shares of Patterson-UTI Energy in a research note on Tuesday, October 3rd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and sixteen have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $26.79.
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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.
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