Analysts Showing Optimistic Trends For Patterson-UTI Energy Inc. (PTEN)
22 October, 2017, 16:46 | Author: Regina Silva
On the other hand, Patterson-UTI Energy, Inc.by far traveled 27.65% versus a 1-year low price of $14.83. (NASDAQ:PTEN) by 54.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. They generally move extremely slowly and they only produce big price swings when the company produces good or bad trading results, which may only happen a couple of times a year at best. Institutional ownership can eventually exceed 100 percent of float, which means that, in addition to all the available shares, institutions have also bought up all the borrowed shares from short sellers who are betting that the stock will decline.
Patterson-UTI Energy, Inc. (NASDAQ:PTEN) in the last month has decreased -2.22%. Riverhead Capital Management LLC raised its stake in shares of Patterson-UTI Energy by 86.2% in the second quarter.
Heading into the stock price potential, VIVUS, Inc. needs to grow just 87.5% to cross its median price target of $1.5.
While looking at the Stock's Performance, Patterson-UTI Energy Inc. now shows a Weekly Performance of -7.79%, where Monthly Performance is -2.87%, Quarterly performance is -4.15%, 6 Months performance is -15.83% and yearly performance percentage is -23.02%. BlackRock Inc. now owns 14,461,920 shares of the oil and gas company's stock worth $350,991,000 after acquiring an additional 14,334,961 shares in the last quarter. (NASDAQ:PTEN). Eqis Cap Management has 0.02% invested in Patterson-UTI Energy, Inc. Citigroup maintained the shares of PTEN in report on Monday, October 5 with "Neutral" rating. JP Morgan downgraded the shares of PTEN in report on Friday, April 15 to "Underweight" rating. Analysts anticipate that traders could see stock price minimum in the $14 range (lowest target price). BMO Capital Markets restated a "hold" rating and set a $23.00 target price on shares of Patterson-UTI Energy in a research report on Thursday, July 13th. Societe Generale began coverage on shares of Patterson-UTI Energy in a research note on Thursday, August 31st. 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 company's stock. They now have a Dollars 25 price target on the stock.
Davenport & Co LLC bolstered its investment by buying 1,100 shares an increase of 10.6% from 06/30/2017 to 09/30/2017. Bank of New York Mellon Corp boosted its position in Patterson-UTI Energy by 59.9% during the 2nd quarter. "(PTEN)" was first published by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are accessing this piece on another domain, it was illegally stolen and republished in violation of United States and worldwide copyright & trademark laws. As of quarter end Eqis Capital Management, Inc. had acquired 1,733 shares growing its position 10.5%. The original version of this piece can be viewed at https://weekherald.com/2017/10/21/patterson-uti-energy-inc-pten-position-increased-by-tudor-investment-corp-et-al.html. (NASDAQ:PTEN) rating on Friday, March 18. Volume was down 19.44% under the stocks average daily volume. Patterson-UTI Energy's quarterly revenue was down 51.2% compared to the same quarter a year ago. The firm's market cap is $4.01 billion. The 20-day RSI for PTEN is 44.92%, which suggests that the stock is not particularly expensive or cheap, and not predisposed to a reactive price movement based on this measure.
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Patterson-UTI Energy, Inc.'s ROA is 0%, while industry's average is 3.43%.
Wall Street analysts, on average, are forecasting the company's EPS to be -0.18, compared to -0.57 reported in the same quarter previous year. Patterson-UTI Energy had a negative return on equity of 11.78% and a negative net margin of 15.92%. The business had revenue of $579.00 million during the quarter, compared to analysts' expectations of $556.47 million. The difference between the expected and actual EPS was $0.09/share, which represents an Earnings surprise of 30%. The business's revenue was up 198.5% on a year-over-year basis.
Among 31 analysts covering Patterson-UTI Energy Inc (NASDAQ:PTEN), 21 have Buy rating, 1 Sell and 9 Hold. The company also recently announced a dividend which was paid on Thursday June 22nd, 2017. Investors of record on Thursday, December 8th were issued a $0.02 dividend. Cortina Asset Management Ltd Liability Corporation has 0.82% invested in Patterson-UTI Energy, Inc.
The stock of Patterson-UTI Energy, Inc. 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 divisions include Contract Drilling, Pressure Pumping and Other operations. The Company provides contract drilling services to oil and natural gas operators in the continental United States, and western and northern Canada.
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