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

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

Patterson-UTI Energy declared a quarterly dividend on Thursday, July 25th. Stockholders of record on Thursday, September 5th will be given a dividend of $0.04 per share on Thursday, September 19th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date is Wednesday, September 4th. View Patterson-UTI Energy's Dividend History.

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

Patterson-UTI Energy, Inc. (NASDAQ:PTEN) posted its earnings results on Thursday, July, 25th. The oil and gas company reported ($0.17) earnings per share for the quarter, topping the Thomson Reuters' consensus estimate of ($0.21) by $0.04. The oil and gas company earned $675.77 million during the quarter, compared to analyst estimates of $670.28 million. Patterson-UTI Energy had a negative net margin of 11.64% and a negative return on equity of 2.71%. The company's quarterly revenue was down 20.9% on a year-over-year basis. During the same period 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.

17 equities research analysts have issued 12 month target prices for Patterson-UTI Energy's stock. Their forecasts range from $9.00 to $21.00. On average, they expect Patterson-UTI Energy's stock price to reach $14.6786 in the next twelve months. This suggests a possible upside of 85.8% from the stock's current price. View Analyst Price Targets for Patterson-UTI Energy.

17 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 11 buy ratings for the stock, resulting in a consensus recommendation of "Buy." View Analyst Ratings for Patterson-UTI Energy.

Media headlines about PTEN stock have been trending positive this week, InfoTrie Sentiment reports. The research group identifies positive and negative news coverage by monitoring more than six thousand news and blog sources in real-time. The firm ranks coverage of public companies on a scale of negative five to five, with scores nearest to five being the most favorable. Patterson-UTI Energy earned a coverage optimism score of 2.5 on InfoTrie's scale. They also assigned news coverage about the oil and gas company a news buzz of 6.0 out of 10, meaning that recent news coverage is somewhat likely to have an effect on the stock's share price in the next few days. View News Stories for Patterson-UTI Energy.

Patterson-UTI Energy saw a drop in short interest during the month of July. As of July 31st, there was short interest totalling 14,522,600 shares, a drop of 6.5% from the June 30th total of 15,538,300 shares. Based on an average trading volume of 4,090,000 shares, the days-to-cover ratio is presently 3.6 days. Approximately 6.9% of the company's stock are short sold. View Patterson-UTI Energy's Current Options Chain.

Some companies that are related to Patterson-UTI Energy include Helmerich & Payne (HP), Transocean (RIG), Rowan Companies (RDC), Seadrill (SDRL), Ensco Rowan (ESV), Diamond Offshore Drilling (DO), Baytex Energy (BTE), Nabors Industries (NBR), Oasis Midstream Partners (OMP), Pacific Drilling (PACD), Noble (NE), Precision Drilling (PDS), 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 number of of retail and institutional 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, 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 acquired 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, Scottrade, Fidelity and Charles Schwab.

One share of PTEN stock can currently be purchased for approximately $7.90.

Patterson-UTI Energy has a market capitalization of $1.60 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]