Brokerage firm Guggenheim Upgrades its rating on Patterson-UTI Energy(PTEN). The shares have been rated Buy. Previously, the analysts had a Neutral rating on the shares. The rating by the stock financial advisor at Guggenheim was issued on Feb 14, 2017 in a research report to their Investors and Clients.
In a different note, On Jan 19, 2017, Cowen & Co. said it Downgrades its rating on Patterson-UTI Energy. The shares have been rated ‘Market Perform’ by the firm. SunTrust Robinson Humphrey said it Initiates Coverage On Patterson-UTI Energy, according to a research note issued on Jan 18, 2017. In the research note, the firm Announces the price-target to $33 per share. The shares have been rated ‘Buy’ by the firm. On Dec 16, 2016, Goldman Sachs said it Downgrades its rating on Patterson-UTI Energy. The shares have been rated ‘Neutral’ by the firm.
Patterson-UTI Energy (PTEN) shares turned negative on Wednesdays trading session with the shares closing down -0.6 points or -2.17% at a volume of 25,21,020. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $27.63. The peak price level was also seen at $27.63 while the days lowest was $27. Finally the shares closed at $27.06. The 52-week high of the shares is $29.76 while the 52-week low is $13.915. According to the latest information available, the market cap of the company is $4,501 M.
Patterson-UTI Energy(PTEN) last announced its earnings results on Feb 9, 2017 for Fiscal Year 2016 and Q4.Company reported revenue of $246.887M. Analysts had an estimated revenue of $231.530M. Earnings per share were $-0.53. Analysts had estimated an EPS of $-0.55.
Patterson-UTI Energy Inc. owns and operates fleets of land-based drilling rigs and a fleet of pressure pumping equipment in the United States. The Company operates in three segments: Contract Drilling; Pressure Pumping and Oil and Natural Gas. The Company markets its contract drilling services to oil and natural gas operators in the continental United States and western and northern Canada. The Company’s Pressure Pumping segment provides pressure pumping services to oil and natural gas operators in Texas Southwest Region and the Appalachian region Northeast Region. The Company’s Oil and Natural Gas segment owns and invests in oil and natural gas assets as a non-operating working interest owner. The Company’s oil and natural gas working interests are located in producing regions of Texas and New Mexico.