November 30, 2016 - By Nellie Frank · 0 Comments
Patterson Uti Energy Inc (NASDAQ:PTEN) institutional sentiment decreased to 0.96 in Q2 2016. Its down -0.05, from 1.01 in 2016Q1. The ratio fall, as 129 institutional investors increased or started new positions, while 128 decreased and sold their positions in Patterson Uti Energy Inc. The institutional investors in our partner’s database now own: 151.23 million shares, down from 160.84 million shares in 2016Q1. Also, the number of institutional investors holding Patterson Uti Energy Inc in their top 10 positions was flat from 2 to 2 for the same number . Sold All: 36 Reduced: 92 Increased: 88 New Position: 41.
Patterson-UTI Energy, Inc. owns and operates fleets of land drilling rigs and a fleet of pressure pumping equipment in the United States. The company has a market cap of $3.78 billion. The Firm operates in three divisions: Contract Drilling, Pressure Pumping, and Oil and Natural Gas. It currently has negative earnings. The Firm provides contract drilling services to oil and natural gas operators in the continental United States, and western and northern Canada.
About 2.65M shares traded hands. Patterson-UTI Energy, Inc. (NASDAQ:PTEN) has risen 20.27% since April 27, 2016 and is uptrending. It has outperformed by 15.05% the S&P500.
Analysts await Patterson-UTI Energy, Inc. (NASDAQ:PTEN) to report earnings on February, 9 before the open. They expect $-0.55 EPS, down 37.50% or $0.15 from last year’s $-0.4 per share. After $-0.58 actual EPS reported by Patterson-UTI Energy, Inc. for the previous quarter, Wall Street now forecasts -5.17% EPS growth.
According to Zacks Investment Research, “Patterson is one of the leading providers of domestic land drilling services to major & independent oil & natural gas companies. The Company focuses its operations in Texas & southeast New Mexico. The Company currently has a drilling fleet of 114 drilling rigs, 108 of which are currently operable. The Company is also engaged in the development, exploration, acquisition & production of oil and natural gas; however, due to the substantial growth in the Company’s drilling contract operations, the oil & natural gas operations are no longer material to the Company’s overall operations.”
Energy Opportunities Capital Management Llc holds 4.51% of its portfolio in Patterson-UTI Energy, Inc. for 702,729 shares. Elm Ridge Management Llc owns 811,966 shares or 4.17% of their US portfolio. Moreover, Intrepid Capital Management Inc has 3.32% invested in the company for 393,260 shares. The New York-based Morgens Waterfall Vintiadis & Co Inc has invested 2.86% in the stock. Kiltearn Partners Llp, a United Kingdom-based fund reported 1.54 million shares.#img1#
Ratings analysis reveals 55% of Patterson-UTI Energy Inc’s analysts are positive. Out of 20 Wall Street analysts rating Patterson-UTI Energy Inc, 11 give it “Buy”, 3 “Sell” rating, while 6 recommend “Hold”. The lowest target is $10 while the high is $27. The stock’s average target of $19.32 is -26.68% below today’s ($26.35) share price. PTEN was included in 50 notes of analysts from July 28, 2015. The firm has “Neutral” rating given on Wednesday, July 13 by Citigroup. Wells Fargo downgraded the stock to “Market Perform” rating in Tuesday, September 1 report. As per Friday, April 29, the company rating was downgraded by Wunderlich. The firm has “Neutral” rating given on Monday, October 5 by Citigroup. The stock of Patterson-UTI Energy, Inc. (NASDAQ:PTEN) earned “Hold” rating by Tudor Pickering on Wednesday, September 9. As per Tuesday, August 9, the company rating was maintained by Citigroup. As per Monday, April 18, the company rating was maintained by Stephens. As per Friday, July 24, the company rating was maintained by Cowen & Co. The firm has “Positive” rating given on Wednesday, March 9 by Susquehanna. The stock of Patterson-UTI Energy, Inc. (NASDAQ:PTEN) earned “Outperform” rating by Wells Fargo on Monday, January 11.
Patterson-UTI Energy, Inc., incorporated on October 14, 1993, owns and operates fleets of land drilling rigs and a fleet of pressure pumping equipment in the United States. The Firm operates in three divisions: Contract Drilling, Pressure Pumping, and Oil and Natural Gas. The Firm provides contract drilling services to oil and natural gas operators in the continental United States, and western and northern Canada. The Firm provides pressure-pumping services to oil and natural gas operators. The Firm also invests in oil and natural gas properties.
More important recent Patterson-UTI Energy, Inc. (NASDAQ:PTEN) news were published by: Prnewswire.com which released: “Patterson-UTI Energy Announces Agreement to Acquire Drilling Technology Company” on September 14, 2016, also Prnewswire.com published article titled: “Patterson-UTI Energy Reports Financial Results for Three and Nine Months Ended …”, Prnewswire.com published: “Patterson-UTI Reports Drilling Activity for September 2016” on October 05, 2016. More interesting news about Patterson-UTI Energy, Inc. (NASDAQ:PTEN) was released by: Prnewswire.com and their article: “Patterson-UTI Energy Amends its Bank Credit Agreement” with publication date: July 12, 2016.
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By Nellie Frank