Economy

Patterson-UTI Energy, Inc. (PTEN) Stock Rating Reaffirmed by Piper Jaffray Companies

Riverhead Capital Management LLC now owns 10,053 shares of the oil and gas company's stock worth $203,000 after purchasing an additional 4,653 shares during the period. Enphase Energy Inc had 26 analyst reports since July 24, 2015 according to SRatingsIntel.

Several other hedge funds have also made changes to their positions in PTEN.

The market capitalization of Patterson-UTI Energy Inc.is at $3.67 Billion.

Now the shares of Patterson-UTI Energy Inc. Symphony Asset Management Ltd Liability Co invested 0.13% of its portfolio in Patterson-UTI Energy, Inc. PNC Financial Services Group Inc. now owns 9,296 shares of the company's stock valued at $208,000 after buying an additional 564 shares during the last quarter. Finally, Capstone Investment Advisors LLC bought a new stake in Patterson-UTI Energy during the second quarter valued at $275,000. Strs Ohio purchased a new stake in shares of Patterson-UTI Energy during the 2nd quarter valued at approximately $30,285,000. The Pointstate Capital Lp holds 1.24M shares with $33.38M value, up from 157,000 last quarter. A stock only has value if the current price is substantially below the price at which it should trade in the future. Investors measure stock performance on the basis of a company's earnings power.

ILLEGAL ACTIVITY WARNING: This piece was reported by StockNewsTimes and is owned by of StockNewsTimes. If you are accessing this report on another domain, it was illegally stolen and reposted in violation of United States and global copyright & trademark law. The legal version of this report can be viewed at https://weekherald.com/2017/09/10/patterson-uti-energy-inc-pten-shares-sold-by-sg-americas-securities-llc.html. Patterson-UTI Energy, Inc. has a 52-week low of 14.83 and a 52-week high of 29.76. Consensus earnings estimates are far from ideal, but they are watched by many investors and play an important role in measuring the appropriate valuation for a stock. The share price has already crossed its 20 days moving average, floating at a distance of 8.19% and sits -5.23% lower versus its 50 days moving average.

07/11/2017 - Patterson-UTI Energy, Inc. had its "neutral" rating reiterated by analysts at Piper Jaffray. The company's quarterly EPS surprised Wall Street by as much as -30% to the downside in its last earnings announcement, so investors should note this tendency when assessing consensus estimates. In contrast to the year ago quarter EPS was at -0.37. Mean recommendation is rated on a 1 to 5 scale. Patterson-UTI Energy had a negative return on equity of 10.03% and a negative net margin of 23.78%. Earnings per share serves as an indicator of a company's profitability.

Analyst research firms are expressing bullish stance on Patterson-UTI Energy, Inc. Shareholders of record on Thursday, September 7th will be given a dividend of $0.02 per share. The ex-dividend date is Wednesday, September 6th. This represents a $0.08 annualized dividend and a yield of 0.47%.

02/14/2017 - Patterson-UTI Energy, Inc. was upgraded to "buy" by analysts at Guggenheim. (NASDAQ:PTEN). 34,238 were reported by Renaissance Ltd Liability. The stock of Enphase Energy Inc (NASDAQ:ENPH) earned "Hold" rating by Roth Capital on Thursday, June 22.

PTEN has a 1-year high price of $ 29.76 and 1-year low price of $14.83. 1 is equivalent to a buy rating, 3 a hold rating, and 5 a sell rating. They noted that the move was a valuation call. Finally, Citigroup Inc. raised shares of Patterson-UTI Energy from a "neutral" rating to a "buy" rating and dropped their price target for the company from $21.00 to $19.00 in a report on Wednesday, August 30th. The firm has "Buy" rating by RBC Capital Markets given on Friday, September 1. The company presently has a consensus rating of "Buy" and a consensus target price of $27.25. Wolfe Research cut shares of Patterson-UTI Energy from an "outperform" rating to a "market perform" rating in a research note on Tuesday, June 6th.

Symantec Corporation is a United States cyber security company. The Company owns and operates a fleet of land-based drilling rigs and a fleet of pressure pumping equipment in the United States. The deal is expected to diversify the company away from its drilling contractor roots as operators continue to become leaner in the oil patch.



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