Somewhat Favorable Press Coverage Somewhat Unlikely to Impact Patterson-UTI Energy (NASDAQ:PTEN) Stock Price
News articles about Patterson-UTI Energy (NASDAQ:PTEN) have trended somewhat positive this week, Accern Sentiment reports. The research group identifies positive and negative news coverage by analyzing more than 20 million blog and news sources in real time. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores closest to one being the most favorable. Patterson-UTI Energy earned a news impact score of 0.17 on Accern’s scale. Accern also gave media stories about the oil and gas company an impact score of 45.7012845299074 out of 100, meaning that recent news coverage is somewhat unlikely to have an impact on the stock’s share price in the next few days.
These are some of the news articles that may have impacted Accern Sentiment’s scoring:
- Patterson-UTI Energy, Inc. (PTEN) Holdings Up in Latest Report from Bluemountain Capital Management, LLC (highlightpress.com)
- Patterson-UTI Energy (PTEN) Shares Enter Oversold Territory (nasdaq.com)
- Head-To-Head Survey: Patterson-UTI Energy (PTEN) and Diamond Offshore Drilling (DO) (americanbankingnews.com)
- Investor Focus on Shares of Patterson-UTI Energy, Inc. (NASDAQ … – Jonesboro Recorder (jonesbororecorder.com)
- Patterson-UTI Energy, Inc. (PTEN) Trades at New 52-Week High – Modern Readers (modernreaders.com)
Shares of Patterson-UTI Energy (NASDAQ:PTEN) opened at 16.83 on Friday. The firm’s market cap is $3.56 billion. Patterson-UTI Energy has a 52 week low of $16.80 and a 52 week high of $29.76. The stock has a 50 day moving average of $19.58 and a 200 day moving average of $22.99.
Patterson-UTI Energy (NASDAQ:PTEN) last announced its quarterly earnings data on Thursday, July 27th. The oil and gas company reported ($0.21) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.09. Patterson-UTI Energy had a negative return on equity of 10.03% and a negative net margin of 23.78%. The company had revenue of $579 million for the quarter, compared to analysts’ expectations of $556.47 million. During the same quarter in the prior year, the business posted ($0.58) EPS. The business’s revenue was up 198.5% compared to the same quarter last year. Equities analysts forecast that Patterson-UTI Energy will post ($0.91) earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 21st. Investors of record on Thursday, September 7th will be issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date of this dividend is Wednesday, September 6th. Patterson-UTI Energy’s payout ratio is presently -4.06%.
Several research firms have recently commented on PTEN. Deutsche Bank AG lowered their price target on shares of Patterson-UTI Energy from $31.00 to $28.00 and set a “hold” rating for the company in a research report on Friday, April 28th. UBS AG restated a “buy” rating and set a $25.00 price target (down previously from $35.00) on shares of Patterson-UTI Energy in a research report on Monday, July 31st. They noted that the move was a valuation call. BidaskClub upgraded shares of Patterson-UTI Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. Evercore ISI reiterated an “outperform” rating and issued a $35.00 target price on shares of Patterson-UTI Energy in a research report on Tuesday, June 6th. Finally, Capital One Financial Corporation upgraded shares of Patterson-UTI Energy from an “equal weight” rating to an “overweight” rating in a research report on Monday, May 8th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and fifteen have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $27.38.
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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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