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. Shareholders 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 yield of 2.03%. The ex-dividend date is Wednesday, September 4th. View Patterson-UTI Energy's Dividend History.

Patterson-UTI Energy announced that its board has authorized a share buyback plan 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 plans are typically an indication that the company's leadership believes its shares are 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 (EPS) for the quarter, topping the Zacks' 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 net margin of 11.64% and a negative return on equity of 2.71%. The business's revenue for the quarter was down 20.9% on a year-over-year basis. During the same period last year, the business earned ($0.05) EPS. 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 Wall Street analysts have issued 1 year price targets for Patterson-UTI Energy's stock. Their predictions range from $9.00 to $21.00. On average, they expect Patterson-UTI Energy's share price to reach $14.6786 in the next year. 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.

Headlines about PTEN stock have been trending positive this week, according to InfoTrie. The research firm identifies negative and positive news coverage by analyzing more than six thousand blog and news sources in real-time. The firm ranks coverage of publicly-traded companies on a scale of -5 to 5, with scores closest to five being the most favorable. Patterson-UTI Energy earned a news impact score of 2.5 on InfoTrie's scale. They also assigned media headlines 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 impact on the company's share price in the next few days. View News Stories for Patterson-UTI Energy.

Patterson-UTI Energy saw a decline in short interest in the month of July. As of July 31st, there was short interest totalling 14,522,600 shares, a decline of 6.5% from the June 30th total of 15,538,300 shares. Based on an average daily 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 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), 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), 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 retail and institutional investors. Top institutional shareholders 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 bought 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]