Patterson-UTI Energy (PTEN) to Release Quarterly Earnings on Wednesday

Patterson-UTI Energy (NASDAQ:PTEN) is scheduled to be announcing its 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. Investors that wish to listen to the company’s conference call can do so using this link.

Patterson-UTI Energy (NASDAQ:PTEN) last issued its quarterly earnings results on Wednesday, February 14th. The oil and gas company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.01. The firm had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.50 billion. Patterson-UTI Energy had a net margin of 5.94% and a return on equity of 10.00%. 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 Down 0.1 %

Shares of NASDAQ PTEN opened at $11.25 on Monday. The company has a market capitalization of $4.54 billion, a P/E ratio of 11.14, a price-to-earnings-growth ratio of 1.65 and a beta of 2.21. Patterson-UTI Energy has a 52-week low of $9.70 and a 52-week high of $16.17. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.24 and a current ratio of 1.41. The company’s 50 day moving average price is $11.73 and its 200-day moving average price is $11.57.

Patterson-UTI Energy Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on PTEN shares. Evercore ISI dropped their price target on shares of Patterson-UTI Energy from $19.00 to $18.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 20th. Raymond James lowered their price objective on shares of Patterson-UTI Energy from $16.00 to $15.00 and set a “strong-buy” rating for the company in a research note on Friday, February 16th. Susquehanna reiterated a “positive” rating and issued a $16.00 price objective on shares of Patterson-UTI Energy in a research note on Monday, April 8th. Royal Bank of Canada lowered their price objective 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. Finally, StockNews.com lowered shares of Patterson-UTI Energy from a “hold” rating to a “sell” rating in a research note on Tuesday, April 2nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Patterson-UTI Energy currently has an average rating of “Moderate Buy” and an average price target of $16.17.

Insider Buying and Selling at Patterson-UTI Energy

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