Patterson-UTI Energy (PTEN) Given Daily Media Sentiment Rating of 0.23
Headlines about Patterson-UTI Energy (NASDAQ:PTEN) have been trending somewhat positive recently, according to Alpha One Sentiment Analysis. The research group, a division of Accern, ranks the sentiment of press coverage by monitoring more than 20 million news and blog sources in real-time. Alpha One ranks coverage of public companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Patterson-UTI Energy earned a coverage optimism score of 0.23 on Alpha One’s scale. Alpha One also gave news coverage about the oil and gas company an impact score of 93 out of 100, indicating that recent press coverage is extremely likely to have an effect on the stock’s share price in the next several days.
Here are some of the media stories that may have effected AlphaOne’s rankings:
- PTEN Crosses Critical Technical Indicator (nasdaq.com)
- Patterson-UTI Energy Completes Merger with Seventy Seven Energy (finance.yahoo.com)
- Patterson-UTI Energy, Inc. (PTEN) Expected to Post Quarterly Sales of $293.73 Million (americanbankingnews.com)
- Somewhat Positive Press Coverage Extremely Likely to Impact Patterson-UTI Energy (PTEN) Share Price (americanbankingnews.com)
- Patterson-UTI Energy, Inc. (PTEN) Expected to Post Earnings of -$0.44 Per Share (americanbankingnews.com)
A number of equities research analysts have weighed in on the company. Tudor Pickering assumed coverage on Patterson-UTI Energy in a research report on Thursday, March 23rd. They set a “hold” rating for the company. Jefferies Group LLC set a $35.00 price target on Patterson-UTI Energy and gave the stock a “buy” rating in a research report on Monday, March 20th. BMO Capital Markets reissued a “hold” rating and issued a $28.00 price target on shares of Patterson-UTI Energy in a research report on Thursday, April 13th. Zacks Investment Research raised Patterson-UTI Energy from a “hold” rating to a “buy” rating and set a $30.00 price target for the company in a research report on Wednesday, December 28th. Finally, Instinet raised Patterson-UTI Energy from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $26.00 to $31.00 in a research report on Wednesday, April 5th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and sixteen have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $28.09.
Patterson-UTI Energy (NASDAQ:PTEN) traded down 1.19% during mid-day trading on Thursday, reaching $22.45. The company’s stock had a trading volume of 3,190,639 shares. Patterson-UTI Energy has a one year low of $16.72 and a one year high of $29.76. The firm’s market cap is $3.29 billion. The stock’s 50 day moving average is $24.91 and its 200 day moving average is $25.68.
Patterson-UTI Energy (NASDAQ:PTEN) last released its quarterly earnings results on Thursday, February 9th. The oil and gas company reported ($0.53) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.54) by $0.01. Patterson-UTI Energy had a negative return on equity of 13.25% and a negative net margin of 34.79%. The firm had revenue of $247 million for the quarter, compared to analyst estimates of $228.83 million. During the same quarter last year, the company posted ($0.40) earnings per share. The business’s revenue was down 27.1% on a year-over-year basis. On average, analysts anticipate that Patterson-UTI Energy will post ($1.30) EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, March 22nd. Investors of record on Wednesday, March 8th were issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.36%. The ex-dividend date of this dividend was Monday, March 6th. Patterson-UTI Energy’s dividend payout ratio is currently -3.69%.
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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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