Patterson-UTI Energy (PTEN) to Release Earnings on Wednesday

Patterson-UTI Energy (NASDAQ:PTEN) will post its quarterly earnings results after the market closes on Wednesday, May 1st. Analysts expect Patterson-UTI Energy to post earnings of $0.13 per share for the quarter. Individual that wish to register for the company’s earnings conference call can do so using this link.

Patterson-UTI Energy (NASDAQ:PTEN) last released its quarterly earnings data on Wednesday, February 14th. The oil and gas company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.01. The company had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.50 billion. Patterson-UTI Energy had a return on equity of 10.00% and a net margin of 5.94%. On average, analysts expect Patterson-UTI Energy to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Patterson-UTI Energy Stock Up 2.3 %

NASDAQ PTEN opened at $11.60 on Wednesday. Patterson-UTI Energy has a 1-year low of $9.70 and a 1-year high of $16.17. The stock’s 50 day moving average is $11.73 and its two-hundred day moving average is $11.61. The company has a current ratio of 1.41, a quick ratio of 1.24 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $4.68 billion, a price-to-earnings ratio of 11.49, a PEG ratio of 1.66 and a beta of 2.22.

Patterson-UTI Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date was Thursday, February 29th. Patterson-UTI Energy’s dividend payout ratio (DPR) is currently 31.68%.

Analyst Upgrades and Downgrades

PTEN has been the subject of a number of research analyst reports. Susquehanna reiterated a “positive” rating and issued a $16.00 target price on shares of Patterson-UTI Energy in a research note on Monday, April 8th. Benchmark cut shares of Patterson-UTI Energy from a “buy” rating to a “hold” rating in a research note on Tuesday, January 16th. Royal Bank of Canada cut their target price on shares of Patterson-UTI Energy from $17.00 to $16.00 and set an “outperform” rating for the company in a research note on Friday, February 16th. Evercore ISI cut their target price on shares of Patterson-UTI Energy from $19.00 to $18.00 and set an “outperform” rating for the company in a research note on Tuesday, February 20th. Finally, Raymond James cut their target price on shares of Patterson-UTI Energy from $16.00 to $15.00 and set a “strong-buy” rating for the company in a research note on Friday, February 16th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.17.

Insider Buying and Selling at Patterson-UTI Energy

In other Patterson-UTI Energy news, Director Robert Wayne Drummond, Jr. sold 187,916 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $11.73, for a total transaction of $2,204,254.68. Following the completion of the sale, the director now owns 2,473,239 shares in the company, valued at approximately $29,011,093.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.30% of the company’s stock.

Patterson-UTI Energy Company Profile

Patterson-UTI Energy, Inc, through its subsidiaries, engages in the provision of contract drilling services to oil and natural gas operators in the United States and internationally. It operates through three segments: Drilling Services, Completion Services, and Drilling Products. The Contract Drilling Services segment provides contract and directional drilling services in onshore oil and natural gas basins, as well as engages in the service and re-certification of equipment for drilling contractors, and provision of electrical controls and automation to the energy, marine and mining industries.