Patterson-UTI Energy (PTEN) Set to Announce Earnings on Wednesday

Patterson-UTI Energy (NASDAQ:PTEN) is set to post its quarterly earnings results after the market closes on Wednesday, May 1st. Analysts expect the company to announce earnings of $0.13 per share for the quarter. Persons that wish to listen to the company’s earnings conference call can do so using this link.

Patterson-UTI Energy (NASDAQ:PTEN) last announced its earnings results on Wednesday, February 14th. The oil and gas company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.01. Patterson-UTI Energy had a net margin of 5.94% and a return on equity of 10.00%. The firm had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.50 billion. On average, analysts expect Patterson-UTI Energy to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Patterson-UTI Energy Stock Up 0.1 %

Shares of NASDAQ:PTEN opened at $11.26 on Tuesday. The company has a market cap of $4.54 billion, a price-to-earnings ratio of 11.15, a PEG ratio of 1.65 and a beta of 2.22. Patterson-UTI Energy has a 12 month low of $9.70 and a 12 month high of $16.17. The company has a current ratio of 1.41, a quick ratio of 1.24 and a debt-to-equity ratio of 0.26. The company has a 50-day moving average price of $11.71 and a 200 day moving average price of $11.55.

Patterson-UTI Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.32 dividend on an annualized basis and a yield of 2.84%. Patterson-UTI Energy’s dividend payout ratio (DPR) is presently 31.68%.

Analyst Ratings Changes

PTEN has been the topic of several analyst reports. Raymond James cut their target price on Patterson-UTI Energy from $16.00 to $15.00 and set a “strong-buy” rating on the stock in a research report on Friday, February 16th. StockNews.com downgraded shares of Patterson-UTI Energy from a “hold” rating to a “sell” rating in a research note on Tuesday, April 2nd. Royal Bank of Canada dropped their price target on shares of Patterson-UTI Energy from $17.00 to $16.00 and set an “outperform” rating for the company in a research note on Friday, February 16th. Bank of America reduced their price objective on shares of Patterson-UTI Energy from $14.50 to $14.00 and set a “buy” rating on the stock in a research report on Monday, April 15th. Finally, Benchmark lowered Patterson-UTI Energy from a “buy” rating to a “hold” rating in a research report on Tuesday, January 16th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Patterson-UTI Energy presently has a consensus rating of “Moderate Buy” and an average target price of $16.17.

Insider Buying and Selling

In other Patterson-UTI Energy news, Director Robert Wayne Drummond, Jr. sold 187,916 shares of the company’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $11.73, for a total value of $2,204,254.68. Following the completion of the sale, the director now directly owns 2,473,239 shares in the company, valued at approximately $29,011,093.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.30% of the stock is owned by insiders.

Patterson-UTI Energy Company Profile

Patterson-UTI Energy, Inc, through its subsidiaries, engages in the provision of contract drilling services to oil and natural gas operators in the United States and internationally. It operates through three segments: Drilling Services, Completion Services, and Drilling Products. The Contract Drilling Services segment provides contract and directional drilling services in onshore oil and natural gas basins, as well as engages in the service and re-certification of equipment for drilling contractors, and provision of electrical controls and automation to the energy, marine and mining industries.