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Patterson-UTI Energy Inc. (PTEN) Coverage Initiated by Analysts at DA Davidson


Patterson-UTI

Finally comes the ratings part in which the PTEN was evaluated with 14 analysts of WSJ going for Buy ratings in previous quarter, while at present 17 analysts gave Buy ratings from whole pool.

Stocks closed mostly in negative territory Wednesday in the wake of slumping crude-oil prices, erasing earlier gains for the major indices, while the tech-heavy Nasdaq bucked the losing trend.

Presently, Analysts decided consensus EPS estimate of $-0.60 for present quarter and one month ago projected EPS estimate was at $-0.60.

During last 5 trades the stock sticks nearly -7.85%. The Companys Oil and Natural Gas segment owns and invests in oil and natural gas assets as a non-operating working interest owner.

Analysts are expecting that the company to achieve $21.52 Price Target in next 52-weeks, average price is come up through the consensus of analysts.

According to FT, The 28 analysts offering 12 month price targets for Patterson-UTI Energy, Inc. have a median target of 22.00, with a high estimate of 34.00 and a low estimate of 13.00.

Patterson-UTI Energy Inc (NASDAQ:PTEN) has a 50 day moving average of 19.92 and a 200 day moving average of 19.08.

Over the last twelve months Patterson-UTI Energy Inc’s stock price has increased by 32.16% from 13.96 to 18.45. The firm’s market cap is $2.69 billion.

Equities researchers at DA Davidson began coverage on shares of Patterson-UTI Energy Inc.

Moving toward technical analysis, the current ratio, or the liquidity ratio of a company was calculated 2.70 as compared to its debt to equity ratio stands at 0.26.

EPS growth in past 5 year was -35.80% along with sales growth of 5.30% in the last five years. Analysts covering the shares maintain a consensus Buy rating, according to Zacks Investment Research.

Institutional sponsorship simply refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions. Patterson-UTI Energy’s dividend payout ratio (DPR) is presently -2.67%. Investec Asset Management LTD raised its position in Patterson-UTI Energy by 108.7% in the first quarter. The shares have been rated Neutral. It opened the session with a $18.79 price tag, later ranging from $18.43 to $19.245, the range at which the stock has traded at throughout the day. BlackRock Group LTD now owns 104,877 shares of the company’s stock valued at $1,848,000 after buying an additional 24,972 shares during the period.

06/29/2016 – Patterson-UTI Energy, Inc. was upgraded to “overweight” by analysts at Simmons.

06/01/2016 – Patterson-UTI Energy, Inc. was downgraded to “underperform” by analysts at Credit Suisse. The Company operates in three segments: Contract Drilling, Pressure Pumping, and Oil and Natural Gas.

The Snyder, TX-based company owns and operates fleets of land-based drilling rigs and pressure pumping equipment. The Company markets its contract drilling services to oil and natural gas operators in the continental United States, and western and northern Canada.