Patterson-UTI Energy, Inc. (NASDAQ:PTEN) Underpriced by 27.2%?

Patterson-UTI Energy, Inc. (NASDAQ:PTEN) Underpriced by 27.2%?”

(NASDAQ:PTEN) by 30.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. A P/B ratio of less than 1.0 can indicate that a stock is undervalued, while a ratio of greater than 1.0 may indicate that a stock is overvalued.

Other hedge funds have also recently modified their holdings of the company. PNC Financial Services Group Inc. boosted its position in Patterson-UTI Energy by 7.9% during the 1st quarter. World Asset Management Inc now owns 12,324 shares of the oil and gas company's stock worth $249,000 after acquiring an additional 295 shares during the period. The stock of Patterson-UTI Energy, Inc. Gluskin Sheff & Assoc Inc. now owns 11,740 shares of the oil and gas company's stock valued at $237,000 after purchasing an additional 780 shares in the last quarter. LS Investment Advisors LLC boosted its stake in Patterson-UTI Energy by 76.1% in the second quarter. (NASDAQ:PTEN). Arizona State Retirement Systems stated it has 69,700 shares. State Treasurer State of MI now owns 68,200 shares of the oil and gas company's stock worth $1,377,000 after acquiring an additional 600 shares during the period. RBC Capital Markets maintained Patterson-UTI Energy, Inc. PNC Financial Services Group Inc. now owns 8,732 shares of the company's stock worth $186,000 after buying an additional 4,118 shares during the period. Institutional investors own 98.45% of the company's stock. Patterson-UTI Energy, Inc. dipped to as low as $17.65 throughout the day and has returned -33.25% in this year. (NASDAQ:PTEN) is a huge mover today! About 1.14 million shares traded. The portion of a company's profit allocated to each outstanding share of common stock was $0.07 a share in the trailing twelve months. The company reported ($0.58) earnings per share for the quarter, beating the Thomson Reuters' consensus estimate of ($0.63) by $0.05. Patterson-UTI Energy had a negative return on equity of 10.03% and a negative net margin of 23.78%.

Looking forward, for the quarter ending Dec-17, 22 analysts have a mean sales target of 734.51 million. During the same quarter in the previous year, the firm posted ($0.58) earnings per share.

Patterson-UTI Energy (NASDAQ:PTEN) last announced its quarterly earnings results on Thursday, July 27th. On average, equities analysts predict that Patterson-UTI Energy, Inc. will post ($0.90) EPS for the current year.

COPYRIGHT VIOLATION WARNING: This story was reported by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are reading this piece of content on another site, it was illegally stolen and republished in violation of US & worldwide copyright laws. Patterson-UTI Energy, given 9 buy-equivalent recommendations, 0 sells and 8 holds. They use a one to five scale where they translate brokerage firm Buy/Sell/Hold recommendations into an average broker rating. The Company's shares were trading -39.62% below from the 52-week high price mark of $29.76 and 21.17% above from the 52-week price bottom of $21.17%. Finally, Macquarie cut Patterson-UTI Energy from a "neutral" rating to an "underperform" rating and set a $14.00 price objective on the a report on Tuesday, August 9th. They noted that the move was a valuation call. As per Thursday, August 20, the company rating was initiated by Sterne Agee CRT. Keefe Bruyette & Woods maintained the shares of STI in report on Monday, June 5 with "Hold" rating.

In the most updated research from a number of analysts on Wall Street, the company gets 19 Buys and 1 Sell among 28 analysts. (NASDAQ:PTEN) on Monday, October 2 with "Buy" rating. Pine River Capital Management Lp acquired 94,288 shares as Patterson (PTEN)'s stock declined 16.81%. The Firm owns and operates a fleet of land drilling rigs and a fleet of pressure pumping equipment in the United States. The Company's divisions include Contract Drilling, Pressure Pumping and Other operations. The Contract Drilling segment markets its contract drilling services to independent and other oil and natural gas operators.

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