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

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

Patterson-UTI Energy announced a quarterly dividend on Thursday, July 25th. Stockholders of record on Thursday, September 5th will be paid a dividend of $0.04 per share on Thursday, September 19th. This represents a $0.16 annualized dividend and a dividend yield of 1.66%. The ex-dividend date of this dividend is Wednesday, September 4th. View Patterson-UTI Energy's Dividend History.

Patterson-UTI Energy announced that its Board of Directors has initiated a share buyback plan on Thursday, February 7th 2019, which authorizes the company to repurchase $250,000,000.00 in shares, according to EventVestor. This repurchase authorization authorizes the company to buy up to 9% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's board of directors believes its shares are undervalued.

Patterson-UTI Energy, Inc. (NASDAQ:PTEN) posted its quarterly earnings data on Thursday, July, 25th. The oil and gas company reported ($0.17) EPS for the quarter, topping the Thomson Reuters' consensus estimate of ($0.21) by $0.04. The oil and gas company had revenue of $675.77 million for the quarter, compared to the consensus estimate of $670.28 million. Patterson-UTI Energy had a negative return on equity of 2.71% and a negative net margin of 11.64%. The company's revenue for the quarter was down 20.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.05) earnings per share. View Patterson-UTI Energy's Earnings History.

Patterson-UTI Energy is scheduled to release their next quarterly earnings announcement on Thursday, October 24th 2019. View Earnings Estimates for Patterson-UTI Energy.

18 brokers have issued twelve-month price targets for Patterson-UTI Energy's shares. Their predictions range from $9.00 to $21.00. On average, they expect Patterson-UTI Energy's share price to reach $14.4333 in the next year. This suggests a possible upside of 49.7% from the stock's current price. View Analyst Price Targets for Patterson-UTI Energy.

18 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Patterson-UTI Energy in the last year. There are currently 1 sell rating, 5 hold ratings and 12 buy ratings for the stock, resulting in a consensus recommendation of "Buy." View Analyst Ratings for Patterson-UTI Energy.

News coverage about PTEN stock has been trending negative on Friday, InfoTrie reports. InfoTrie identifies negative and positive press coverage by analyzing more than six thousand blog and news sources in real-time. The firm ranks coverage of companies on a scale of negative five to positive five, with scores closest to five being the most favorable. Patterson-UTI Energy earned a media sentiment score of -2.9 on InfoTrie's scale. They also gave news articles 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 effect on the company's share price in the next few days. View News Stories for Patterson-UTI Energy.

Patterson-UTI Energy saw a increase in short interest during the month of August. As of August 31st, there was short interest totalling 16,622,000 shares, an increase of 14.5% from the July 31st total of 14,522,600 shares. Based on an average trading volume of 4,250,000 shares, the days-to-cover ratio is currently 3.9 days. Currently, 8.3% of the company's shares are sold short. View Patterson-UTI Energy's Current Options Chain.

Some companies that are related to Patterson-UTI Energy include Helmerich & Payne (HP), Transocean (RIG), Ensco Rowan (ESV), Seadrill (SDRL), Rowan Companies (RDC), Diamond Offshore Drilling (DO), Nabors Industries (NBR), Baytex Energy (BTE), Oasis Midstream Partners (OMP), Pacific Drilling (PACD), Precision Drilling (PDS), Noble (NE), PARKER DRILLING/SH PAR $ (PKD), Independence Contract Drilling (ICD) and Petroteq Energy (PQEFF).

Based on aggregate information from My MarketBeat watchlists, some companies that other Patterson-UTI Energy investors own include Seventy Seven Energy (SSEIQ), Nabors Industries (NBR), Micron Technology (MU), Energy Transfer LP Unit (ET), Oasis Petroleum (OAS), Starbucks (SBUX), Ford Motor (F), Halliburton (HAL), Cornerstone Total Return Fund (CRF) and CBL & Associates Properties (CBL).

Patterson-UTI Energy's stock is owned by a variety of of institutional and retail investors. Top institutional investors include BlackRock Inc. (9.72%), BlackRock Inc. (9.72%), Vanguard Group Inc. (9.46%), JPMorgan Chase & Co. (4.14%), AQR Capital Management LLC (3.32%) and Wells Fargo & Company MN (3.23%). Company insiders that own Patterson-UTI Energy stock include Curtis W Huff, Janeen S Judah, Terry H Hunt and Tiffany J Thom. View Institutional Ownership Trends for Patterson-UTI Energy.

PTEN stock was sold by a variety of institutional investors in the last quarter, including Wells Fargo & Company MN, BNP Paribas Arbitrage SA, Van ECK Associates Corp, JPMorgan Chase & Co., D. E. Shaw & Co. Inc., BlackRock Inc., BlackRock Inc. and Scout Investments Inc.. View Insider Buying and Selling for Patterson-UTI Energy.

PTEN stock was purchased by a variety of institutional investors in the last quarter, including Renaissance Technologies LLC, Nuveen Asset Management LLC, Connor Clark & Lunn Investment Management Ltd., Prudential PLC, Marshall Wace North America L.P., Bank of New York Mellon Corp, AQR Capital Management LLC and Natixis. View Insider Buying and Selling for 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, Robinhood, Fidelity and Charles Schwab.

One share of PTEN stock can currently be purchased for approximately $9.64.

Patterson-UTI Energy has a market capitalization of $1.95 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.View Additional Information About Patterson-UTI Energy.

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

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]