Patterson-UTI Energy, Inc. (PTEN) Scheduled to Post Quarterly Earnings on Wednesday
Patterson-UTI Energy, Inc. (NASDAQ:PTEN) is scheduled to be issuing its quarterly earnings data before the market opens on Wednesday, October 25th. Analysts expect the company to announce earnings of ($0.18) per share for the quarter.
Patterson-UTI Energy (NASDAQ:PTEN) last announced its quarterly earnings results on Thursday, July 27th. The oil and gas company reported ($0.21) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.30) by $0.09. The business had revenue of $579.00 million for the quarter, compared to the consensus estimate of $556.47 million. Patterson-UTI Energy had a negative return on equity of 10.03% and a negative net margin of 23.78%. The business’s revenue was up 198.5% on a year-over-year basis. During the same quarter last year, the business posted ($0.58) EPS. On average, analysts expect Patterson-UTI Energy to post $-0.9 EPS for the current fiscal year and $-0.15 EPS for the next fiscal year.
Shares of Patterson-UTI Energy, Inc. (PTEN) opened at 18.92 on Monday. The company’s market cap is $4.01 billion. The company has a 50 day moving average price of $19.47 and a 200 day moving average price of $20.11. Patterson-UTI Energy, Inc. has a one year low of $14.83 and a one year high of $29.76.
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PTEN has been the topic of a number of recent research reports. Piper Jaffray Companies reaffirmed a “neutral” rating and set a $20.50 price objective (down from $22.00) on shares of Patterson-UTI Energy in a report on Wednesday, July 12th. Jefferies Group LLC set a $26.00 target price on Patterson-UTI Energy and gave the stock a “buy” rating in a report on Thursday, October 5th. Capital One Financial Corporation downgraded Patterson-UTI Energy from an “overweight” rating to an “equal weight” rating in a report on Thursday, July 27th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $29.00 price objective on shares of Patterson-UTI Energy in a report on Thursday, July 20th. Finally, Cowen and Company reaffirmed a “hold” rating and set a $24.00 price objective on shares of Patterson-UTI Energy in a report on Sunday, September 17th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and eighteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $26.82.
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.
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