Press coverage about Patterson-UTI Energy (NASDAQ:PTEN) has trended somewhat positive recently, Accern Sentiment reports. The research firm rates the sentiment of news coverage by monitoring more than twenty million news and blog sources in real-time. Accern ranks coverage of companies on a scale of negative one to one, with scores closest to one being the most favorable. Patterson-UTI Energy earned a news impact score of 0.08 on Accern’s scale. Accern also assigned news articles about the oil and gas company an impact score of 46.803294596917 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the stock’s share price in the immediate future.
These are some of the media stories that may have effected Accern Sentiment Analysis’s scoring:
- Contrasting Pacific Drilling SA (PACDQ) & Patterson-UTI Energy (PTEN) (americanbankingnews.com)
- Patterson-UTI Energy (PTEN) Presents At Bank Of America Merrill Lynch Global Energy Conference 2017 – Slideshow (seekingalpha.com)
- Patterson-UTI Energy, Inc. breached its 50 day moving average in a Bearish Manner : PTEN-US : November 16, 2017 (finance.yahoo.com)
- Patterson-UTI Energy’s Free Cash Flow and Acquisition Plan (finance.yahoo.com)
- Analyzing Patterson-UTI Energy’s Strategy (finance.yahoo.com)
A number of equities analysts recently issued reports on PTEN shares. Credit Suisse Group lowered their price target on Patterson-UTI Energy from $22.00 to $20.00 and set a “neutral” rating for the company in a report on Friday, September 22nd. Zacks Investment Research raised Patterson-UTI Energy from a “hold” rating to a “buy” rating and set a $23.00 price target for the company in a report on Wednesday, October 11th. Deutsche Bank AG started coverage on Patterson-UTI Energy in a report on Tuesday, October 10th. They issued a “buy” rating and a $25.00 price target for the company. Societe Generale started coverage on Patterson-UTI Energy in a report on Thursday, August 31st. They issued a “buy” rating and a $22.00 price target for the company. Finally, J P Morgan Chase & Co raised Patterson-UTI Energy from a “neutral” rating to an “overweight” rating and set a $24.00 price target for the company in a report on Tuesday, September 5th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and eighteen have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $26.71.
Patterson-UTI Energy (NASDAQ:PTEN) last released its quarterly earnings results on Thursday, October 26th. The oil and gas company reported ($0.13) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.17) by $0.04. Patterson-UTI Energy had a negative return on equity of 7.31% and a negative net margin of 14.73%. The business had revenue of $684.99 million during the quarter, compared to analysts’ expectations of $688.05 million. During the same quarter in the prior year, the business earned ($0.58) earnings per share. The company’s quarterly revenue was up 232.3% compared to the same quarter last year. sell-side analysts anticipate that Patterson-UTI Energy will post -0.82 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 21st. Stockholders of record on Thursday, December 7th will be paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.39%. The ex-dividend date is Wednesday, December 6th. Patterson-UTI Energy’s dividend payout ratio (DPR) is presently -5.16%.
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About Patterson-UTI Energy
Patterson-UTI Energy, Inc is an oilfield services company. The Company owns and operates a fleet of land-based drilling rigs and a fleet of pressure pumping equipment in the United States. The Company’s segments 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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