The Marathon Capital Management holds 1.07 million shares with $8.57 million value, down from 1.17 million last quarter. Viking Fund Management Llc who had been investing in Patterson for a number of months, seems to be bullish on the $3.86B market cap company. Analysts expect that Patterson-UTI Energy, Inc. will post ($0.90) earnings per share for the current year. About 1.78M shares traded.
Patterson-UTI has transitioned itself slowly and "somewhat methodical" over the years into a $3.4 billion oilfield service company with operations in all the major basins across North America, CEO Andy Hendricks said during a webcast of Barclay's CEO Energy-Power Conference on September 6. Given that its average daily volume over the 30 days has been 4.26 million shares a day, this signifies a pretty significant change over the norm. They are also projecting the Low EPS estimate of $-0.21 and the High EPS estimate of $-0.08. The firm earned "Hold" rating on Wednesday, June 21 by BMO Capital Markets. The stock has risen 241.77% since then. About 1.24M shares traded. Patterson-UTI Energy, Inc. (NASDAQ:PTEN) has risen 32.91% since September 7, 2016 and is uptrending. It has outperformed by 16.21% the S&P500.
Ratings analysis reveals 44% of Patterson-UTI's analysts are positive. The stock of Patterson-UTI Energy, Inc. Citigroup Inc. upgraded shares of Patterson-UTI Energy from a "neutral" rating to a "buy" rating and decreased their price objective for the company from $21.00 to $19.00 in a report on Wednesday, August 30th. A 19 analysts rate it as either a buy or a strong buy, while1 believe that investors should either steer clear of PTEN or, if they already own its stock, sell it. The company was downgraded on Friday, June 10 by UBS. As per Friday, April 29, the company rating was maintained by RBC Capital Markets. As of December 31, 2016, the Company had 202 marketed land-based drilling rigs. AmeriGas Partners, L.P. (NYSE:APU) has declined 1.59% since September 9, 2016 and is downtrending.
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Houston-based Patterson-UTI will acquire MS Energy from Denham Capital Management LP and NGP Energy Capital Management LLC on a debt-free basis for about 8.8 million shares of its common stock and $75 million cash for a total of about $215 million. It also reduced its holding in Carrizo Oil & Gas Inc (NASDAQ:CRZO) by 60,000 shares in the quarter, leaving it with 310,000 shares, and cut its stake in Rpc Inc (NYSE:RES).
"As lateral lengths extend in higher pressure/temperature unconventional reservoirs, directional drilling service capabilities are now more important than ever to the well construction process, so we view this transaction as an astute move by Patterson-UTI", TPH said in a September 5 report. Relative Strength Index (RSI-14) for Patterson-UTI Energy Inc.
06/21/2017 - Patterson-UTI Energy, Inc. was downgraded to "neutral" by analysts at Seaport Global Securities. The ex-dividend date is Wednesday, September 6th. Its up 0.27, from 1.39 in 2016Q3. In the past 3-month period alone, shares of PTEN have appreciated -2.89 - or -14.53%. 55 funds opened positions while 78 raised stakes. Envestnet Asset Mgmt reported 15,635 shares. Analysts predict that Patterson-UTI Energy, Inc. will post ($0.90) EPS for the current year. (NASDAQ:PTEN) on Wednesday, March 9 with "Positive" rating.
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Wealthtrust Axiom Llc holds 0.3% of its portfolio in Misonix, Inc. for 80,336 shares. Metropolitan Life Insurance reported 138,281 shares. Ny State Teachers Retirement System stated it has 282,311 shares or 0.02% of all its holdings. Eqis Cap owns 24,148 shares. In addition, the Company owns and invests in oil and natural gas assets as a non-operating working interest owner in Texas and New Mexico. (NASDAQ:PTEN) for 20,951 shares. California State Teachers Retirement Sys has invested 0.02% in Patterson-UTI Energy, Inc. First Mercantile Trust Co. purchased a new position in shares of Patterson-UTI Energy during the 1st quarter worth about $263,000.
Just, if not more, important than the growth rate is the quality of that growth.
More notable recent Amazon.com, Inc. Given that earnings are what matter most to investors, analysts tend to place a greater weight on the P/E. Royal Bank Of Canada reissued a "buy" rating and set a $29.00 price target on shares of Patterson-UTI Energy in a research report on Thursday, July 20th. Blair William And Il accumulated 0.01% or 18,534 shares.
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