Patterson-UTI Energy (NASDAQ:PTEN) is set to post its quarterly earnings results before the market opens on Thursday, July 29th. Analysts expect Patterson-UTI Energy to post earnings of ($0.52) per share for the quarter. Individual interested in registering for the company's earnings conference call can do so using this link.
Patterson-UTI Energy (NASDAQ:PTEN) last released its quarterly earnings results on Thursday, April 29th. The oil and gas company reported ($0.57) earnings per share (EPS) for the quarter, missing the Zacks' consensus estimate of ($0.56) by ($0.01). The business had revenue of $241.00 million during the quarter, compared to the consensus estimate of $240.99 million. Patterson-UTI Energy had a negative net margin of 51.71% and a negative return on equity of 20.76%. The business's quarterly revenue was down 46.0% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.45) earnings per share. On average, analysts expect Patterson-UTI Energy to post $-2 EPS for the current fiscal year and $-1 EPS for the next fiscal year.
Shares of PTEN stock opened at $8.32 on Thursday. The stock has a 50-day moving average price of $9.40. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.66 and a current ratio of 1.79. The firm has a market capitalization of $1.57 billion, a price-to-earnings ratio of -3.26 and a beta of 3.22. Patterson-UTI Energy has a 12 month low of $2.38 and a 12 month high of $11.27.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 17th. Investors of record on Thursday, June 3rd were given a $0.02 dividend. The ex-dividend date of this dividend was Wednesday, June 2nd. This represents a $0.08 dividend on an annualized basis and a yield of 0.96%. Patterson-UTI Energy's payout ratio is -3.69%.
A number of brokerages recently commented on PTEN. Morgan Stanley lifted their price objective on Patterson-UTI Energy from $7.50 to $10.00 and gave the stock an "equal weight" rating in a research report on Friday, July 9th. Barclays upgraded Patterson-UTI Energy from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $7.00 to $9.00 in a research report on Monday, May 3rd. Finally, Evercore ISI upgraded Patterson-UTI Energy from an "in-line" rating to an "outperform" rating and lifted their price objective for the stock from $8.00 to $12.00 in a research report on Wednesday, June 23rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company's stock. The company has an average rating of "Hold" and a consensus price target of $7.54.
About Patterson-UTI Energy
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 Services 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, and West Virginia.
Further Reading: Analyst Ratings
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