-$0.20 EPS Expected for Patterson-UTI Energy, Inc. (NASDAQ:PTEN) This Quarter
Wall Street brokerages forecast that Patterson-UTI Energy, Inc. (NASDAQ:PTEN) will report ($0.20) earnings per share (EPS) for the current quarter, according to Zacks. Eight analysts have made estimates for Patterson-UTI Energy’s earnings. The lowest EPS estimate is ($0.23) and the highest is ($0.19). Patterson-UTI Energy reported earnings of ($0.05) per share in the same quarter last year, which indicates a negative year over year growth rate of 300%. The firm is expected to report its next earnings results on Thursday, July 25th.
According to Zacks, analysts expect that Patterson-UTI Energy will report full-year earnings of ($0.71) per share for the current fiscal year, with EPS estimates ranging from ($0.87) to ($0.51). For the next financial year, analysts expect that the company will post earnings of ($0.33) per share, with EPS estimates ranging from ($0.96) to $0.57. Zacks Investment Research’s EPS averages are an average based on a survey of analysts that follow Patterson-UTI Energy.
Patterson-UTI Energy (NASDAQ:PTEN) last released its quarterly earnings results on Thursday, April 25th. The oil and gas company reported ($0.14) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.21) by $0.07. Patterson-UTI Energy had a negative net margin of 9.80% and a negative return on equity of 1.89%. The business had revenue of $704.17 million for the quarter, compared to analysts’ expectations of $694.10 million. During the same period in the prior year, the firm earned ($0.16) earnings per share. Patterson-UTI Energy’s revenue was down 13.0% compared to the same quarter last year.
A number of institutional investors and hedge funds have recently bought and sold shares of PTEN. Millennium Management LLC raised its holdings in Patterson-UTI Energy by 526.1% in the fourth quarter. Millennium Management LLC now owns 3,423,038 shares of the oil and gas company’s stock worth $35,428,000 after purchasing an additional 2,876,290 shares during the period. BNP Paribas Arbitrage SA raised its holdings in shares of Patterson-UTI Energy by 6,105.2% during the first quarter. BNP Paribas Arbitrage SA now owns 1,764,317 shares of the oil and gas company’s stock worth $24,736,000 after acquiring an additional 1,735,884 shares during the period. Macquarie Group Ltd. raised its holdings in shares of Patterson-UTI Energy by 37.1% during the fourth quarter. Macquarie Group Ltd. now owns 6,383,533 shares of the oil and gas company’s stock worth $66,069,000 after acquiring an additional 1,726,924 shares during the period. Scout Investments Inc. raised its holdings in shares of Patterson-UTI Energy by 136.6% during the first quarter. Scout Investments Inc. now owns 2,094,601 shares of the oil and gas company’s stock worth $29,366,000 after acquiring an additional 1,209,229 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Patterson-UTI Energy by 14.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 9,584,682 shares of the oil and gas company’s stock worth $99,202,000 after acquiring an additional 1,191,714 shares during the period. Institutional investors own 97.91% of the company’s stock.
PTEN stock traded down $0.19 during midday trading on Tuesday, reaching $11.82. The company’s stock had a trading volume of 2,959,262 shares, compared to its average volume of 3,916,579. Patterson-UTI Energy has a 52 week low of $9.49 and a 52 week high of $19.29. The stock has a market capitalization of $2.50 billion, a PE ratio of -34.76 and a beta of 1.43. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.69 and a current ratio of 1.82. The stock’s 50-day moving average price is $11.64.
The company also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Thursday, June 6th were issued a $0.04 dividend. The ex-dividend date of this dividend was Wednesday, June 5th. This represents a $0.16 annualized dividend and a yield of 1.35%. Patterson-UTI Energy’s dividend payout ratio (DPR) is presently -47.06%.
Patterson-UTI Energy Company Profile
Patterson-UTI Energy, Inc, through its subsidiaries, provides onshore contract drilling services to oil and natural gas operators in the United States and Canada. It operates through three segments: Contract Drilling Services, Pressure Pumping Services, and Directional Drilling Services. The Contract Drilling segment markets its contract drilling services primarily in west Texas and southeastern New Mexico, north central and east Texas, northern Louisiana, Colorado, Wyoming, North Dakota, south Texas, western Oklahoma, Pennsylvania, Ohio, West Virginia, and western Canada.
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