Patterson-UTI Energy, Inc. (PTEN) Expected to Earn Q2 2018 Earnings of $0.01 Per Share
Patterson-UTI Energy, Inc. (NASDAQ:PTEN) – Equities researchers at Jefferies Group issued their Q2 2018 earnings estimates for shares of Patterson-UTI Energy in a research note issued on Thursday. Jefferies Group analyst B. Handler anticipates that the oil and gas company will earn $0.01 per share for the quarter. Jefferies Group has a “Buy” rating and a $25.00 price objective on the stock.
Patterson-UTI Energy (NASDAQ:PTEN) last announced its quarterly earnings results on Thursday, February 8th. The oil and gas company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.02). The company had revenue of $787.33 million during the quarter, compared to analysts’ expectations of $764.84 million. Patterson-UTI Energy had a negative return on equity of 5.07% and a net margin of 0.25%. The firm’s revenue for the quarter was up 218.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.53) EPS.
Shares of Patterson-UTI Energy (NASDAQ PTEN) opened at $18.15 on Monday. Patterson-UTI Energy has a one year low of $14.83 and a one year high of $29.76. The company has a quick ratio of 1.16, a current ratio of 1.23 and a debt-to-equity ratio of 0.17.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 22nd. Investors of record on Thursday, March 8th will be issued a dividend of $0.02 per share. The ex-dividend date is Wednesday, March 7th. This represents a $0.08 annualized dividend and a yield of 0.44%. Patterson-UTI Energy’s payout ratio is -57.14%.
In related news, Director Tiffany J. Thom sold 2,574 shares of the company’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $23.08, for a total transaction of $59,407.92. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 4.60% of the company’s stock.
A number of large investors have recently modified their holdings of the stock. BlackRock Inc. grew its holdings in Patterson-UTI Energy by 10.4% during the 4th quarter. BlackRock Inc. now owns 20,590,666 shares of the oil and gas company’s stock valued at $473,793,000 after purchasing an additional 1,941,119 shares during the last quarter. Van ECK Associates Corp grew its holdings in Patterson-UTI Energy by 6.6% during the 3rd quarter. Van ECK Associates Corp now owns 10,177,949 shares of the oil and gas company’s stock valued at $213,126,000 after purchasing an additional 630,350 shares during the last quarter. Wells Fargo & Company MN grew its holdings in Patterson-UTI Energy by 13.4% during the 4th quarter. Wells Fargo & Company MN now owns 9,088,648 shares of the oil and gas company’s stock valued at $209,129,000 after purchasing an additional 1,075,640 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Patterson-UTI Energy by 6.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 8,367,543 shares of the oil and gas company’s stock valued at $174,379,000 after purchasing an additional 501,179 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in Patterson-UTI Energy by 31.5% during the 3rd quarter. Ameriprise Financial Inc. now owns 5,567,435 shares of the oil and gas company’s stock valued at $116,581,000 after purchasing an additional 1,335,098 shares during the last quarter. Institutional investors own 97.79% of the company’s stock.
COPYRIGHT VIOLATION NOTICE: “Patterson-UTI Energy, Inc. (PTEN) Expected to Earn Q2 2018 Earnings of $0.01 Per Share” was first posted by Watch List News and is the sole property of of Watch List News. If you are reading this report on another website, it was illegally stolen and reposted in violation of US & international copyright and trademark laws. The legal version of this report can be viewed at https://www.watchlistnews.com/patterson-uti-energy-inc-pten-expected-to-earn-q2-2018-earnings-of-0-01-per-share/1863291.html.
About Patterson-UTI Energy
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.
Receive News & Ratings for Patterson-UTI Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Patterson-UTI Energy and related companies with MarketBeat.com's FREE daily email newsletter.