Patterson-UTI Energy, Inc. (NASDAQ:PTEN) registered a -2.43% decrease, still its new closing price is 136.89% up from the company’s 1 year high of 29.56.It posted -1.87% losses in previous 5 sessions and is now the subject of 14 analysts who together assign a hold rating on stock. 2 of Wall Street analysts have an underperform rating; the 0 sells versus 8 buy or better ratings. The 33 stock analysts following this company have an average price target at $28.13, with individual PT in the $13.50-$35.00 range. The shares moved at $27.75, implying that brokerage firms see shares gaining about 114.38% in twelve months time.
Patterson-UTI Energy, Inc. (PTEN) SEC Form 4 News
The stock is getting much attention these days as insiders are adding shares while they posted a 3.08% rise year to date. A Director at Patterson-UTI Energy, Inc. (PTEN) acquired shares in a transaction closed on Wednesday October 29, 2014. Conlon Michael W bought 3,000 shares in the company at $23.33 each and collected $69,001 in proceeds. Conlon Michael W now owns 15,000 shares in the company after this transaction. A Director in the company, TALBOTT CLOYCE A, disclosed a transaction on Friday June 27, 2014 that ended up generating $13,796,000 from the sale of 400,000 shares at $34.49 per share.
Patterson-UTI Energy, Inc. (NASDAQ:PTEN) Upcoming Results on Tap
Patterson-UTI Energy, Inc. will next provide financial results for the March 2017 quarter. Stock analysts expect it to report per-share earnings of $-0.43 in that period. Sales during the quarter are predicted to arrive at $270.6 million.
Earnings surprise history: Last quarter, the company posted approximately $206.13 million in revenue and EPS of $-0.57. The mean forecast was for $205.31 million and $-0.60 a share, respectively. One quarter earlier, revenue for the stock was at $193.91 million, with earnings at $-0.56/share.
Patterson-UTI Energy, Inc. (PTEN) Brokerage Update
Patterson-UTI Energy, Inc. (PTEN) is in Cowen’s research list so their analyst rating change is noteworthy. These shares were downgraded to Market Perform from Outperform by Cowen, according to news reported on Thursday January 19, 2017.Another important research note was issued by Credit Suisse on Wednesday January 04, 2017.The firm upgraded PTEN to Neutral from Underperform. Over the last six months and over the last three months, the shares of Patterson-UTI Energy, Inc. (PTEN), have changed 43.51% and 25.48%, respectively.
