Economy

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, Inc.is 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 stock.in 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.



Like this

Latest


27 October 2017
Oswaldtwistle Shooting: Boy, 14, Arrested On Suspicion Of Murder In Accrington
The man was found to have suffered a single shot wound to the chest after the alarm was raised at 8.25pm. It is understood he went there to discuss bullying allegations between children at a local school.

27 October 2017
Who stays, who goes: High Court rules on Citizenship 7's political future
Section 44 of the constitution prevents a subject or citizen of a foreign power from being chosen or sitting as a federal MP. Joyce and senators Canavan, Nash and Xenophon were born in Australia but were made citizens by descent.

27 October 2017
Kentucky judge who refused to handle gay adoptions resigns
A family court judge who refused to preside over adoption cases involving same-sex couples has resigned. Judge Nance has been a Family Court judge for the 43rd Circuit that covers Barren and Metcalfe counties.

27 October 2017
Suncor Energy Inc. (SU) EPS Estimated At $0.22
Be on Your Buy List?" published on October 13, 2017, Fool.ca published: "Better Buy: Canadian Natural Resources Limited vs. BidaskClub upgraded Suncor Energy from a "sell" rating to a "hold" rating in a research report on Wednesday, August 2nd.

27 October 2017
Former Mariners pitching coach Willis returning to Cleveland
On Thursday, third base coach Brian Butterfield and hitting coach Chili Davis were both hired by the Chicago Cubs. He worked in Seattle from 2010-13 before joining the Indians as a special assistant in 2014.

27 October 2017
Bills give WR Boldin OK to explore trade
Boldin will presumably want to be able to play for a contender, where he will have a shot at winning his first Super Bowl. Boldin last played in regular season action with the Detroit Lions, recording 67 receptions and eight touchdowns in 2016.

27 October 2017
NRL responds to police inquiry
NRL CEO Todd Greenberg said the results of the investigation should give people confidence in the integrity of the sport. They also executed 59 search warrants, gaining access to bank accounts, TAB accounts and phone data.

27 October 2017
GFvip 2, caos nella notte, interviene la sicurezza
Spaesato ripeteva: " Grande Fratello , mi sentite?" Passati pochi minuti tutto è tornato alla calma: cosa accadrà ora per i concorrenti del Grande Fratello VIP?

27 October 2017
Joe Flacco leaves game after cheap shot by Kiko Alonso
Ravens offensive lineman Ryan Jensen quickly went after Alonso after the hit and skirmish between the two teams erupted. Flacco looked dazed for the seconds after the hit, putting his finger up as if he wanted to come out of the game.

27 October 2017
Canada's Saputo to buy Aussie dairy firm Murray Goulburn for $488 mln
Fonterra confirmed last month that it had made an indicative, non-binding proposal to the board of Murray Goulburn. Saputo says the acquisition of Murray Goulburn will "add to complement" its dairy division's activities.



Recommended