The stock of Patterson-UTI Energy, Inc. (NASDAQ:PTEN) is a huge mover today! About 3.62M shares traded hands or 15.65% up from the average. Patterson-UTI Energy, Inc. (NASDAQ:PTEN) has risen 20.27% since April 27, 2016 and is uptrending. It has outperformed by 15.05% the S&P500.
The move comes after 5 months positive chart setup for the $3.81 billion company. It was reported on Nov, 30 by Barchart.com. We have $28.94 PT which if reached, will make NASDAQ:PTEN worth $342.90M more.
Analysts await Patterson-UTI Energy, Inc. (NASDAQ:PTEN) to report earnings on February, 9 before the open. They expect $-0.55 EPS, down 37.50% or $0.15 from last year’s $-0.4 per share. After $-0.58 actual EPS reported by Patterson-UTI Energy, Inc. for the previous quarter, Wall Street now forecasts -5.17% EPS growth.
Patterson-UTI Energy, Inc. (NASDAQ:PTEN) Ratings Coverage
Out of 20 analysts covering Patterson-UTI Energy Inc (NASDAQ:PTEN), 11 rate it a “Buy”, 3 “Sell”, while 6 “Hold”. This means 55% are positive. Patterson-UTI Energy Inc has been the topic of 50 analyst reports since July 28, 2015 according to StockzIntelligence Inc. The firm earned “Outperform” rating on Friday, September 4 by BMO Capital Markets. As per Friday, October 28, the company rating was maintained by Howard Weil. The firm earned “Underweight” rating on Monday, April 18 by Stephens. The firm earned “Overweight” rating on Wednesday, June 29 by Simmons & Co. The firm has “Outperform” rating by Wells Fargo given on Monday, January 11. As per Friday, October 23, the company rating was maintained by Cowen & Co. The firm earned “Neutral” rating on Monday, October 5 by Citigroup. As per Tuesday, September 1, the company rating was downgraded by Wells Fargo. The stock of Patterson-UTI Energy, Inc. (NASDAQ:PTEN) has “Hold” rating given on Wednesday, September 9 by Tudor Pickering. Jefferies upgraded it to “Buy” rating and $25 target price in Monday, July 11 report.
According to Zacks Investment Research, “Patterson is one of the leading providers of domestic land drilling services to major & independent oil & natural gas companies. The Company focuses its operations in Texas & southeast New Mexico. The Company currently has a drilling fleet of 114 drilling rigs, 108 of which are currently operable. The Company is also engaged in the development, exploration, acquisition & production of oil and natural gas; however, due to the substantial growth in the Company’s drilling contract operations, the oil & natural gas operations are no longer material to the Company’s overall operations.”
Insitutional Activity: The institutional sentiment decreased to 0.96 in Q2 2016. Its down 0.05, from 1.01 in 2016Q1. The ratio dropped, as 36 funds sold all Patterson-UTI Energy, Inc. shares owned while 92 reduced positions. 41 funds bought stakes while 88 increased positions. They now own 151.23 million shares or 5.98% less from 160.84 million shares in 2016Q1.
Schroder Investment Mngmt Gp holds 0% or 55,963 shares in its portfolio. Capstone Investment Advsr Ltd Liability Co holds 12,900 shares or 0.01% of its portfolio. Energy Opportunities Management Ltd Llc accumulated 702,729 shares or 4.51% of the stock. Mesirow Investment Management last reported 1.01% of its portfolio in the stock. Canada Pension Plan Board holds 0.02% or 253,500 shares in its portfolio. Kahn Brothers Group Incorporated De reported 1.05M shares or 0% of all its holdings. Geode Cap Mgmt Llc has invested 0.01% of its portfolio in Patterson-UTI Energy, Inc. (NASDAQ:PTEN). The New Jersey-based Prudential Fincl has invested 0% in Patterson-UTI Energy, Inc. (NASDAQ:PTEN). Waratah Cap Limited holds 0.95% of its portfolio in Patterson-UTI Energy, Inc. (NASDAQ:PTEN) for 217,680 shares. Alyeska Inv Grp L P accumulated 80,612 shares or 0.02% of the stock. Janus Capital Mgmt Lc has 0% invested in the company for 145,500 shares. Nomura has 0% invested in the company for 4,300 shares. Gabelli Funds has 0.02% invested in the company for 159,000 shares. The Mississippi-based Hancock has invested 0.42% in Patterson-UTI Energy, Inc. (NASDAQ:PTEN). Clough Capital Partners Limited Partnership holds 0.34% of its portfolio in Patterson-UTI Energy, Inc. (NASDAQ:PTEN) for 295,100 shares.
More important recent Patterson-UTI Energy, Inc. (NASDAQ:PTEN) news were published by: Prnewswire.com which released: “Patterson-UTI Energy Announces Agreement to Acquire Drilling Technology Company” on September 14, 2016, also Prnewswire.com published article titled: “Patterson-UTI Energy Reports Financial Results for Three and Nine Months Ended …”, Prnewswire.com published: “Patterson-UTI Reports Drilling Activity for September 2016” on October 05, 2016. More interesting news about Patterson-UTI Energy, Inc. (NASDAQ:PTEN) was released by: Prnewswire.com and their article: “Patterson-UTI Energy Amends its Bank Credit Agreement” with publication date: July 12, 2016.
PTEN Company Profile
Patterson-UTI Energy, Inc., incorporated on October 14, 1993, owns and operates fleets of land drilling rigs and a fleet of pressure pumping equipment in the United States. The Firm operates in three divisions: Contract Drilling, Pressure Pumping, and Oil and Natural Gas. The Firm provides contract drilling services to oil and natural gas operators in the continental United States, and western and northern Canada. The Firm provides pressure-pumping services to oil and natural gas operators. The Firm also invests in oil and natural gas properties.
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