Economy

Patterson-UTI Energy, Inc. (PTEN) Receives Consensus Recommendation of "Buy" from Analysts

Patterson-UTI Energy, Inc. (PTEN) Receives Consensus Recommendation of

The rating was maintained by Jefferies on Thursday, October 5 with "Buy". On average, analysts predict that Patterson-UTI Energy will post ($0.91) earnings per share for the current fiscal year. (NASDAQ:PTEN). Mraz Amerine & Assocs reported 34,600 shares or 0.22% of all its holdings. SunTrust Banks, Inc. reiterated a "buy" rating and issued a $25.00 price objective (down from $33.00) on shares of Patterson-UTI Energy in a research report on Tuesday, October 3rd. Retail Bank Of America De has 0.01% invested in Patterson-UTI Energy, Inc. (NASDAQ:PTEN) on Tuesday, June 6 with "Buy" rating. Zacks Investment Research raised Patterson-UTI Energy from a "hold" rating to a "buy" rating and set a $23.00 target price for the company in a research report on Wednesday. BlackRock Inc. increased its position in shares of Patterson-UTI Energy by 11.5% in the 2nd quarter. It also reduced its holding in Hff Inc (NYSE:HF) by 31,510 shares in the quarter, leaving it with 192,490 shares, and cut its stake in Triple (NYSE:GTS). Intrepid Capital Management Inc owns 867,880 shares or 6.86% of their USA portfolio. JPMorgan Chase & Co. now owns 7,866,364 shares of the oil and gas company's stock valued at $158,823,000 after purchasing an additional 2,224,128 shares during the last quarter. Finally, State Street Corp increased its position in shares of Patterson-UTI Energy by 10.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 10,392 shares of the oil and gas company's stock worth $210,000 after acquiring an additional 1,089 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Patterson-UTI Energy by 3.9% in the third quarter. The fund owned 1,208,568 shares of the oil and gas company's stock after buying an additional 151,219 shares during the period. The company has market cap of $1.44 billion.

On September 5 the stock rating was upgraded to "Overweight" from "Neutral" in a report from JP Morgan. 3,974,366 shares of the company traded hands. A company that has a large presence may help ease investor worry, especially in a down market climate. The stock touched 52-week High of $29.76 on 02/14/17 and 52-week Low of $14.83 on 08/21/17.

The consensus analysts recommendation at this point stands at 2.10 for Patterson-UTI Energy, Inc. Analysts expect next quarter's EPS will be $-0.13 and the next full year EPS is anticipated to be $-0.24. Its revenue totaled $556.29 million up 82.29% from the previous quarter. (NASDAQ:PTEN) was released by: Prnewswire.com and their article: "Technical Research on Oil and Gas Equities - Patterson-UTI Energy, Diamond ..." with publication date: October 03, 2017. During the same quarter in the prior year, the business earned ($0.58) earnings per share.

The equity stands -5.85% away from the 52-week high and 26.12% from the 52-week low. The dividend yield was $0.38. Patterson-UTI Energy's dividend payout ratio (DPR) is -4.06%. Two Sigma Advisers LP increased its position in Patterson-UTI Energy by 153.1% in the third quarter. If you are accessing this story on another website, it was illegally stolen and republished in violation of USA & worldwide copyright and trademark law.

Among 7 analysts covering Appian (NASDAQ:APPN), 0 have Buy rating, 0 Sell and 7 Hold.

The recently concluded session had traders exchanging Patterson-UTI Energy, Inc. About Patterson-UTIPatterson-UTI is a market leading provider of contract drilling, pressure pumping and directional drilling services to oil and natural gas operators in the United States and western Canada.



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