NASDAQ:PTEN - Patterson-UTI Energy Stock Price, News, & Analysis

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$14.09 +0.25 (+1.81 %)
(As of 03/25/2019 04:00 PM ET)
Previous Close$13.84
Today's Range$13.58 - $14.12
52-Week Range$9.49 - $23.99
Volume2.96 million shs
Average Volume3.72 million shs
Market Capitalization$3.01 billion
P/E Ratio-41.44
Dividend Yield1.16%
Beta1.33
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. As of December 31, 2018, this segment had a drilling fleet of 252 marketable land-based drilling rigs. The Pressure Pumping segment offers pressure pumping services that consist of well stimulation and cementing for the completion of new wells and remedial work on existing wells, as well as hydraulic fracturing, cementing, and acid pumping services in Texas, the Mid-Continent, and the Appalachian region. The Directional Drilling Services segment provides a suite of directional drilling services, including directional drilling, downhole performance motors, motor rentals, directional surveying, measurement-while-drilling, wireline steering tools, and services that enhance the accuracy of horizontal wellbore placement. Patterson-UTI Energy, Inc. also manufactures and sells pipe handling components and related technology to drilling contractors, as well as provides electrical controls and automation to the energy, marine, and mining industries in North America and other markets; and owns and invests in oil and natural gas assets as a non-operating working interest owner located principally in Texas and New Mexico. Patterson-UTI Energy, Inc. was founded in 1978 and is headquartered in Houston, Texas.

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Industry, Sector and Symbol

Industry Drilling oil & gas wells
Sub-IndustryOil & Gas Drilling
SectorOils/Energy
Current SymbolNASDAQ:PTEN
CUSIP70348110
Phone281-765-7100

Debt

Price-To-Earnings

Sales & Book Value

Annual Sales$3.33 billion
Cash Flow$4.9266 per share
Book Value$16.12 per share

Profitability

Net Income$-321,420,000.00

Miscellaneous

Employees8,000
Market Cap$3.01 billion
Next Earnings Date4/25/2019 (Estimated)
OptionableOptionable

Patterson-UTI Energy (NASDAQ:PTEN) Frequently Asked Questions

What is Patterson-UTI Energy's stock symbol?

Patterson-UTI Energy trades on the NASDAQ under the ticker symbol "PTEN."

How often does Patterson-UTI Energy pay dividends? What is the dividend yield for Patterson-UTI Energy?

Patterson-UTI Energy announced a quarterly dividend on Thursday, February 7th. Investors of record on Thursday, March 7th will be paid a dividend of $0.04 per share on Thursday, March 21st. This represents a $0.16 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date is Wednesday, March 6th. View Patterson-UTI Energy's Dividend History.

How will Patterson-UTI Energy's stock buyback program work?

Patterson-UTI Energy announced that its board has initiated a share buyback program on Thursday, February 7th 2019, which allows the company to buyback $250,000,000.00 in outstanding shares, according to EventVestor. This buyback authorization allows the company to buy up to 9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board of directors believes its stock is undervalued.

How were Patterson-UTI Energy's earnings last quarter?

Patterson-UTI Energy, Inc. (NASDAQ:PTEN) announced its quarterly earnings results on Thursday, February, 7th. The oil and gas company reported ($0.04) earnings per share (EPS) for the quarter, beating the Zacks' consensus estimate of ($0.14) by $0.10. The oil and gas company had revenue of $795.90 million for the quarter, compared to analyst estimates of $797.10 million. Patterson-UTI Energy had a negative return on equity of 1.98% and a negative net margin of 9.66%. The company's quarterly revenue was up 1.1% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.10) EPS. View Patterson-UTI Energy's Earnings History.

When is Patterson-UTI Energy's next earnings date?

Patterson-UTI Energy is scheduled to release their next quarterly earnings announcement on Thursday, April 25th 2019. View Earnings Estimates for Patterson-UTI Energy.

What price target have analysts set for PTEN?

19 Wall Street analysts have issued twelve-month price objectives for Patterson-UTI Energy's stock. Their forecasts range from $12.00 to $28.00. On average, they anticipate Patterson-UTI Energy's stock price to reach $20.4375 in the next year. This suggests a possible upside of 45.0% from the stock's current price. View Analyst Price Targets for Patterson-UTI Energy.

What is the consensus analysts' recommendation for Patterson-UTI Energy?

19 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Patterson-UTI Energy in the last year. There are currently 6 hold ratings and 13 buy ratings for the stock, resulting in a consensus recommendation of "Buy." View Analyst Ratings for Patterson-UTI Energy.

Has Patterson-UTI Energy been receiving favorable news coverage?

Media stories about PTEN stock have trended somewhat negative this week, InfoTrie Sentiment Analysis reports. The research firm scores the sentiment of press coverage by analyzing more than six thousand news and blog sources in real time. The firm ranks coverage of companies on a scale of negative five to five, with scores nearest to five being the most favorable. Patterson-UTI Energy earned a news impact score of -1.1 on InfoTrie's scale. They also assigned media stories about the oil and gas company a news buzz of 10.0 out of 10, indicating that recent press coverage is extremely likely to have an impact on the stock's share price in the next few days.

Who are some of Patterson-UTI Energy's key competitors?

What other stocks do shareholders of Patterson-UTI Energy own?

Based on aggregate information from My MarketBeat watchlists, some companies that other Patterson-UTI Energy investors own include Micron Technology (MU), Seventy Seven Energy (SSEIQ), Energy Transfer LP Unit (ET), Halliburton (HAL), Cornerstone Total Return Fund (CRF), Starbucks (SBUX), Ford Motor (F), AT&T (T), Cornerstone Strategic Value Fund (CLM) and Chesapeake Energy (CHK).

Who are Patterson-UTI Energy's key executives?

Patterson-UTI Energy's management team includes the folowing people:
  • Mr. Mark Steven Siegel, Exec. Chairman (Age 68)
  • Mr. William Andrew Hendricks Jr., Pres, CEO & Director (Age 54)
  • Mr. C. Andrew Smith, Exec. VP & CFO (Age 48)
  • Mr. Kenneth N. Berns, Exec. VP & Chief Commercial Officer (Age 59)
  • Mr. James Michael Holcomb, Pres of UTI Drilling Company LLC (Age 56)

Who are Patterson-UTI Energy's major shareholders?

Patterson-UTI Energy's stock is owned by a variety of of institutional and retail investors. Top institutional shareholders include BlackRock Inc. (9.56%), Dimensional Fund Advisors LP (4.49%), Van ECK Associates Corp (4.13%), Macquarie Group Ltd. (2.94%), Prudential PLC (2.49%) and Massachusetts Financial Services Co. MA (2.35%). Company insiders that own Patterson-UTI Energy stock include Curtis W Huff, Terry H Hunt and Tiffany J Thom. View Institutional Ownership Trends for Patterson-UTI Energy.

Which major investors are selling Patterson-UTI Energy stock?

PTEN stock was sold by a variety of institutional investors in the last quarter, including New York State Common Retirement Fund, Jennison Associates LLC, Oppenheimer Asset Management Inc., Gateway Investment Advisers LLC, Royce & Associates LP, Energy Opportunities Capital Management LLC, Viking Fund Management LLC and Keeley Teton Advisors LLC. View Insider Buying and Selling for Patterson-UTI Energy.

Which major investors are buying Patterson-UTI Energy stock?

PTEN stock was bought by a variety of institutional investors in the last quarter, including Millennium Management LLC, Macquarie Group Ltd., Dimensional Fund Advisors LP, Massachusetts Financial Services Co. MA, Norges Bank, Scout Investments Inc., Oregon Public Employees Retirement Fund and Thrivent Financial for Lutherans. View Insider Buying and Selling for Patterson-UTI Energy.

How do I buy shares of Patterson-UTI Energy?

Shares of PTEN can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Scottrade, Fidelity and Charles Schwab.

What is Patterson-UTI Energy's stock price today?

One share of PTEN stock can currently be purchased for approximately $14.09.

How big of a company is Patterson-UTI Energy?

Patterson-UTI Energy has a market capitalization of $3.01 billion and generates $3.33 billion in revenue each year. The oil and gas company earns $-321,420,000.00 in net income (profit) each year or ($0.34) on an earnings per share basis. Patterson-UTI Energy employs 8,000 workers across the globe.

What is Patterson-UTI Energy's official website?

The official website for Patterson-UTI Energy is http://www.patenergy.com.

How can I contact Patterson-UTI Energy?

Patterson-UTI Energy's mailing address is 10713 WEST SAM HOUSTON PARKWAY NORTH SUITE 800, HOUSTON TX, 77064. The oil and gas company can be reached via phone at 281-765-7100 or via email at [email protected]


MarketBeat Community Rating for Patterson-UTI Energy (NASDAQ PTEN)

Community Ranking:  2.3 out of 5 (star star)
Outperform Votes:  624 (Vote Outperform)
Underperform Votes:  708 (Vote Underperform)
Total Votes:  1,332
MarketBeat's community ratings are surveys of what our community members think about Patterson-UTI Energy and other stocks. Vote "Outperform" if you believe PTEN will outperform the S&P 500 over the long term. Vote "Underperform" if you believe PTEN will underperform the S&P 500 over the long term. You may vote once every thirty days.
This page was last updated on 3/25/2019 by MarketBeat.com Staff

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