Patterson-UTI Energy (PTEN) Scheduled to Post Quarterly Earnings on Wednesday

Patterson-UTI Energy (NASDAQ:PTEN) is set to post its quarterly earnings results before the market opens on Wednesday, October 23rd. Analysts expect Patterson-UTI Energy to post earnings of $0.01 per share for the quarter. Individual interested in registering for the company’s earnings conference call can do so using this link.

Patterson-UTI Energy (NASDAQ:PTEN) last announced its quarterly earnings data on Wednesday, July 24th. The oil and gas company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.04). The company had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.41 billion. Patterson-UTI Energy had a return on equity of 4.49% and a net margin of 2.28%. On average, analysts expect Patterson-UTI Energy to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Patterson-UTI Energy Trading Up 0.1 %

Shares of Patterson-UTI Energy stock opened at $7.98 on Monday. The company’s fifty day simple moving average is $8.45 and its 200-day simple moving average is $9.87. The company has a market cap of $3.21 billion, a price-to-earnings ratio of 11.74 and a beta of 2.12. The company has a current ratio of 1.50, a quick ratio of 1.30 and a debt-to-equity ratio of 0.27. Patterson-UTI Energy has a 1 year low of $7.45 and a 1 year high of $14.26.

Patterson-UTI Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd were paid a $0.08 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $0.32 annualized dividend and a dividend yield of 4.01%. Patterson-UTI Energy’s payout ratio is 47.06%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Royal Bank of Canada lowered their price objective on shares of Patterson-UTI Energy from $15.00 to $14.00 and set an “outperform” rating on the stock in a research note on Friday, July 26th. Susquehanna reduced their target price on Patterson-UTI Energy from $13.00 to $10.00 and set a “positive” rating for the company in a research report on Friday, October 11th. StockNews.com cut Patterson-UTI Energy from a “hold” rating to a “sell” rating in a research report on Saturday, October 12th. Bank of America reduced their target price on Patterson-UTI Energy from $14.00 to $12.50 and set a “buy” rating for the company in a research report on Monday, July 15th. Finally, Barclays reduced their target price on Patterson-UTI Energy from $14.00 to $12.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $12.54.

About Patterson-UTI Energy

Patterson-UTI Energy, Inc, through its subsidiaries, engages in the provision of contract drilling services to oil and natural gas operators in the United States and internationally. It operates through three segments: Drilling Services, Completion Services, and Drilling Products. The Contract Drilling Services segment provides contract and directional drilling services in onshore oil and natural gas basins, as well as engages in the service and re-certification of equipment for drilling contractors, and provision of electrical controls and automation to the energy, marine and mining industries.