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NASDAQ:PTENPatterson-UTI Energy Stock Price, Forecast & News

$3.88
+0.33 (+9.30 %)
(As of 05/26/2020 04:00 PM ET)
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Today's Range
$3.64
Now: $3.88
$3.97
50-Day Range
$1.70
MA: $2.82
$3.89
52-Week Range
$1.61
Now: $3.88
$12.39
Volume172,044 shs
Average Volume6.91 million shs
Market Capitalization$723.62 million
P/E RatioN/A
Dividend Yield4.51%
Beta2.72
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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Patterson-UTI Energy logo

Beat the Market (BTM) Rank

Analyst Opinion: 3.9Community Rank: 2.3Dividend Strength: 1.7Insider Behavior: 3.0Valuation: 0.6 5 -4 -3 -2 -1 -

Overall Beat the Market Rank

2.30 out of 5 stars


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$2.47 billion
Cash Flow$4.62 per share
Book Value$14.57 per share

Profitability

Net Income$-425,700,000.00

Miscellaneous

Employees5,800
Market Cap$723.62 million
Next Earnings Date7/23/2020 (Estimated)
OptionableOptionable

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

How has Patterson-UTI Energy's stock been impacted by COVID-19 (Coronavirus)?

Patterson-UTI Energy's stock was trading at $2.11 on March 11th, 2020 when Coronavirus (COVID-19) reached pandemic status according to the World Health Organization (WHO). Since then, PTEN stock has increased by 83.9% and is now trading at $3.88. View which stocks have been most impacted by Coronavirus.

Do Wall Street analysts recommend investors buy shares of Patterson-UTI Energy?

26 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Patterson-UTI Energy in the last year. There are currently 9 sell ratings, 13 hold ratings and 4 buy ratings for the stock, resulting in a consensus recommendation of "Hold." View analyst ratings for Patterson-UTI Energy.

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

Patterson-UTI Energy is scheduled to release its next quarterly earnings announcement on Thursday, July 23rd 2020. View our earnings forecast for Patterson-UTI Energy.

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

Patterson-UTI Energy, Inc. (NASDAQ:PTEN) posted its earnings results on Thursday, April, 23rd. The oil and gas company reported ($0.45) earnings per share for the quarter, beating analysts' consensus estimates of ($0.46) by $0.01. The oil and gas company had revenue of $445.90 million for the quarter, compared to analyst estimates of $437.95 million. Patterson-UTI Energy had a negative net margin of 37.60% and a negative return on equity of 9.11%. The company's revenue was down 36.7% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.14) earnings per share. View Patterson-UTI Energy's earnings history.

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, April 23rd. Shareholders of record on Thursday, June 4th will be paid a dividend of $0.02 per share on Thursday, June 18th. This represents a $0.08 annualized dividend and a yield of 2.06%. The ex-dividend date of this dividend is Wednesday, June 3rd. View Patterson-UTI Energy's dividend history.

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

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

What price target have analysts set for PTEN?

26 Wall Street analysts have issued twelve-month price targets for Patterson-UTI Energy's shares. Their forecasts range from $1.90 to $17.00. On average, they expect Patterson-UTI Energy's stock price to reach $7.35 in the next twelve months. This suggests a possible upside of 89.4% from the stock's current price. View analysts' price targets for Patterson-UTI Energy.

Has Patterson-UTI Energy been receiving favorable news coverage?

News coverage about PTEN stock has trended extremely negative recently, according to InfoTrie Sentiment. The research group identifies negative and positive media coverage by reviewing more than six thousand blog and news sources in real time. The firm ranks coverage of public companies on a scale of negative five to positive five, with scores closest to five being the most favorable. Patterson-UTI Energy earned a coverage optimism score of -5.0 on InfoTrie's scale. They also gave press coverage about the oil and gas company a news buzz of 0.0 out of 10, indicating that recent media coverage is extremely unlikely to have an impact on the company's share price in the near term. View the latest news aboutPatterson-UTI Energy.

Are investors shorting Patterson-UTI Energy?

Patterson-UTI Energy saw a increase in short interest in the month of May. As of May 15th, there was short interest totaling 31,780,000 shares, an increase of 9.3% from the April 30th total of 29,080,000 shares. Based on an average daily volume of 6,730,000 shares, the days-to-cover ratio is currently 4.7 days. Currently, 17.4% of the company's shares are sold short. View Patterson-UTI Energy's Current Options Chain.

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 Energy Transfer LP Unit (ET), Nabors Industries (NBR), Oasis Petroleum (OAS), Delta Air Lines (DAL), Halliburton (HAL), Ford Motor (F), Starbucks (SBUX), AT&T (T), Enterprise Products Partners (EPD) and Seventy Seven Energy (SSEIQ).

Who are Patterson-UTI Energy's key executives?

Patterson-UTI Energy's management team includes the following 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)

What is Patterson-UTI Energy's stock symbol?

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

Who are Patterson-UTI Energy's major shareholders?

Patterson-UTI Energy's stock is owned by a variety of institutional and retail investors. Top institutional shareholders include BlackRock Inc. (11.19%), Massachusetts Financial Services Co. MA (5.07%), Fuller & Thaler Asset Management Inc. (4.35%), JPMorgan Chase & Co. (3.37%), Thrivent Financial for Lutherans (3.35%) and Alliancebernstein L.P. (3.25%). Company insiders that own Patterson-UTI Energy stock include Curtis W Huff, Janeen S Judah, Terry H Hunt and William Andrew Hendricks Jr. 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 JPMorgan Chase & Co., Bank of New York Mellon Corp, Massachusetts Financial Services Co. MA, Van Den Berg Management I Inc., AXA, Mackay Shields LLC, Ensign Peak Advisors Inc, and Principal Financial Group Inc.. Company insiders that have sold Patterson-UTI Energy company stock in the last year include Janeen S Judah, and Terry H Hunt. View insider buying and selling activity 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 Morgan Stanley, Parametric Portfolio Associates LLC, Two Sigma Advisers LP, Luminus Management LLC, Fuller & Thaler Asset Management Inc., Van ECK Associates Corp, BlackRock Inc., and Aperio Group LLC. Company insiders that have bought Patterson-UTI Energy stock in the last two years include Curtis W Huff, Janeen S Judah, and William Andrew Hendricks Jr. View insider buying and selling activity 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, Robinhood, Fidelity, and Charles Schwab.

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

One share of PTEN stock can currently be purchased for approximately $3.88.

How big of a company is Patterson-UTI Energy?

Patterson-UTI Energy has a market capitalization of $723.62 million and generates $2.47 billion in revenue each year. The oil and gas company earns $-425,700,000.00 in net income (profit) each year or ($0.99) on an earnings per share basis. Patterson-UTI Energy employs 5,800 workers across the globe.

What is Patterson-UTI Energy's official website?

The official website for Patterson-UTI Energy is 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]

This page was last updated on 5/26/2020 by MarketBeat.com Staff

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