Patterson-UTI Energy (PTEN) Getting Somewhat Favorable Media Coverage, Analysis Finds

News headlines about Patterson-UTI Energy (NASDAQ:PTEN) have been trending somewhat positive this week, according to Accern. Accern identifies positive and negative media coverage by monitoring more than twenty million news and blog sources. Accern ranks coverage of public companies on a scale of negative one to one, with scores nearest to one being the most favorable. Patterson-UTI Energy earned a daily sentiment score of 0.21 on Accern’s scale. Accern also gave headlines about the oil and gas company an impact score of 46.0822004527915 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the near term.

Here are some of the headlines that may have impacted Accern’s analysis:

Several analysts recently weighed in on PTEN shares. SunTrust Banks restated a “buy” rating and set a $25.00 target price (down previously from $33.00) on shares of Patterson-UTI Energy in a research note on Tuesday, October 3rd. Citigroup set a $24.00 target price on Patterson-UTI Energy and gave the company a “buy” rating in a research note on Thursday, October 5th. Jefferies Group set a $26.00 target price on Patterson-UTI Energy and gave the company a “buy” rating in a research note on Thursday, October 5th. Deutsche Bank started coverage on Patterson-UTI Energy in a research note on Tuesday, October 10th. They set a “buy” rating and a $25.00 target price for the company. Finally, Zacks Investment Research upgraded Patterson-UTI Energy from a “hold” rating to a “buy” rating and set a $23.00 target price for the company in a research note on Wednesday, October 11th. Seven equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $27.40.

Shares of Patterson-UTI Energy (NASDAQ:PTEN) opened at $24.48 on Friday. The company has a quick ratio of 1.16, a current ratio of 1.23 and a debt-to-equity ratio of 0.17. Patterson-UTI Energy has a 52-week low of $14.83 and a 52-week high of $29.76. The company has a market capitalization of $5,580.00, a P/E ratio of -15.79 and a beta of 1.08.

Patterson-UTI Energy (NASDAQ:PTEN) last announced its quarterly earnings data on Thursday, October 26th. The oil and gas company reported ($0.13) EPS for the quarter, topping the Zacks’ 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 company had revenue of $684.99 million during the quarter, compared to the consensus estimate of $688.05 million. During the same quarter last year, the company earned ($0.58) EPS. The company’s quarterly revenue was up 232.3% on a year-over-year basis. sell-side analysts expect that Patterson-UTI Energy will post -0.8 earnings per share for the current fiscal year.

In other Patterson-UTI Energy news, Director Tiffany J. Thom sold 2,574 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $23.08, for a total value of $59,407.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 4.60% of the stock is currently owned by company insiders.

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Patterson-UTI Energy Company Profile

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.

Insider Buying and Selling by Quarter for Patterson-UTI Energy (NASDAQ:PTEN)

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