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

Patterson-UTI Energy (NASDAQ:PTEN) will likely be issuing its quarterly earnings data after the market closes on Wednesday, February 5th. Analysts expect the company to announce earnings of ($0.10) per share and revenue of $1.25 billion for the quarter. Parties interested in listening to the company’s conference call can do so using this link.

Patterson-UTI Energy Trading Down 2.4 %

Shares of NASDAQ:PTEN opened at $7.88 on Tuesday. Patterson-UTI Energy has a fifty-two week low of $7.15 and a fifty-two week high of $12.65. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.32 and a current ratio of 1.52. The firm has a fifty day moving average price of $8.26 and a 200 day moving average price of $8.48.

Wall Street Analyst Weigh In

A number of equities analysts have commented on PTEN shares. Barclays dropped their target price on shares of Patterson-UTI Energy from $14.00 to $12.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Raymond James lowered Patterson-UTI Energy from a “strong-buy” rating to a “market perform” rating in a report on Monday, January 6th. The Goldman Sachs Group raised shares of Patterson-UTI Energy from a “neutral” rating to a “buy” rating and reduced their target price for the stock from $11.00 to $10.00 in a research note on Friday, December 13th. Susquehanna decreased their price target on shares of Patterson-UTI Energy from $13.00 to $10.00 and set a “positive” rating for the company in a research note on Friday, October 11th. Finally, StockNews.com downgraded Patterson-UTI Energy from a “hold” rating to a “sell” rating in a research note on Saturday, October 12th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $11.63.

Insider Activity at Patterson-UTI Energy

In related news, Director James Carl Stewart sold 80,000 shares of the business’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $7.36, for a total value of $588,800.00. Following the transaction, the director now directly owns 32,438 shares of the company’s stock, valued at approximately $238,743.68. The trade was a 71.15 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.30% of the stock is currently owned by company insiders.

About Patterson-UTI Energy

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.