Zacks: Analysts Expect Patterson-UTI Energy, Inc. (NASDAQ: PTEN) to Report EPS of $ 0.44

Stock analysts expect Patterson-UTI Energy, Inc. (NASDAQ: PTEN) to report ($ 0.44) earnings per share (EPS) for the current fiscal quarter, according to Zacks. Five analysts provided earnings estimates for Patterson-UTI Energy, with the lowest EPS estimate being ($ 0.48) and the highest estimate being ($ 0.40). Patterson-UTI Energy reported earnings of ($ 0.60) per share for the same quarter last year, which would indicate a positive year-over-year growth rate of 26.7%. The company is expected to release its next earnings report before the market opens on Thursday, October 28.

On average, analysts expect Patterson-UTI Energy to report annual earnings of ($ 1.97) per share for the current year, with EPS estimates ranging from ($ 2.03) to ( $ 1.93). For next year, analysts expect the company to post earnings of ($ 1.06 per share), with EPS estimates ranging from $ 1.19 to $ 0.94. Zacks earnings per share averages are an average based on a survey of selling analysts who track Patterson-UTI Energy.

Patterson-UTI Energy (NASDAQ: PTEN) last reported its quarterly results on Thursday, July 29. The oil and gas company reported ($ 0.54) earnings per share for the quarter, missing ($ 0.02) Thomson Reuters consensus estimate of ($ 0.52). The company posted revenue of $ 291.77 million for the quarter, compared to a consensus estimate of $ 294.73 million. Patterson-UTI Energy recorded a negative return on equity of 21.76% and a negative net margin of 44.59%.

PTEN has been the subject of several research reports. Evercore ISI downgraded Patterson-UTI Energy from an “online” rating to an “outperforming” rating and increased its target price for the company from $ 8.00 to $ 12.00 in a research note on Wednesday 23 June. The Royal Bank of Canada reiterated a “sector performance” rating and set a price target of $ 9.50 for Patterson-UTI Energy shares in a research note on Thursday, September 9. Finally, Morgan Stanley increased its price target on Patterson-UTI Energy from $ 7.50 to $ 10.00 and gave the company an “equal weight” rating in a Friday, July 9 research note. Three analysts gave the stock a conservation rating and three gave the company a buy rating. According to, the company currently has a consensus rating of “Buy” and an average price target of $ 8.50.

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A number of institutional investors have recently bought and sold shares. Morgan Stanley increased its position in Patterson-UTI Energy by 69.4% in the second quarter. Morgan Stanley now owns 1,044,062 shares of the oil and gas company valued at $ 10,376,000 after purchasing an additional 427,789 shares in the last quarter. Castleark Management LLC purchased a new position in Patterson-UTI Energy during the second quarter valued at approximately $ 796,000. Invesco Ltd. increased its position in Patterson-UTI Energy by 16.2% in the second quarter. Invesco Ltd. Now owns 2,582,385 shares of the oil and gas company valued at $ 25,669,000 after purchasing an additional 359,820 shares in the last quarter. Metropolitan Life Insurance Co NY increased its position in Patterson-UTI Energy by 105,850.0% during the second quarter. Metropolitan Life Insurance Co NY now owns 52,975 shares of the oil and gas company valued at $ 527,000 after purchasing an additional 52,925 shares in the last quarter. Finally, Man Group plc strengthened its position in Patterson-UTI Energy by 20.5% during the second quarter. Man Group plc now owns 1,069,533 shares of the oil and gas company valued at $ 10,631,000 after purchasing an additional 181,781 shares in the last quarter. Institutional investors and hedge funds hold 92.87% of the company’s shares.

NASDAQ: PTEN shares opened at $ 9.44 on Friday. The stock has a market cap of $ 1.78 billion, a P / E ratio of -4.12 and a beta of 3.23. The company has a 50-day moving average price of $ 7.88 and a two-hundred-day moving average price of $ 8.23. The company has a current ratio of 1.73, a quick ratio of 1.62, and a debt ratio of 0.50. Patterson-UTI Energy has a one-year low of $ 2.38 and a one-year high of $ 11.27.

The company also recently announced a quarterly dividend, which was paid on Thursday, September 16. Investors of record on Thursday, September 2 received a dividend of $ 0.02 per share. This represents an annualized dividend of $ 0.08 and a return of 0.85%. The ex-dividend date was Wednesday September 1. Patterson-UTI Energy’s payout ratio is -3.69%.

About Patterson-UTI Energy

Patterson-UTI Energy, Inc is engaged in the provision of pressure drilling and pumping services, directional drilling, equipment rental and technology. It operates in the following segments: contract drilling services, pressure pumping services and directional drilling services. The Contract Drilling Services segment markets its services to major and independent oil and gas operators.

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Patterson-UTI Energy Profit History and Estimates (NASDAQ: PTEN)

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