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

Patterson-UTI Energy (NASDAQ:PTEN - Get Free Report) is projected to post its quarterly earnings results after the market closes on Wednesday, February 5th. Analysts expect Patterson-UTI Energy to post earnings of ($0.10) per share and revenue of $1.25 billion for the quarter. Parties interested in registering for the company's conference call can do so using this link.

Patterson-UTI Energy Stock Down 2.1 %

NASDAQ:PTEN traded down $0.17 during mid-day trading on Friday, reaching $8.07. The stock had a trading volume of 12,795,726 shares, compared to its average volume of 7,202,520. The stock has a market cap of $3.15 billion, a P/E ratio of -3.68 and a beta of 2.09. The business's 50 day moving average is $8.27 and its 200 day moving average is $8.53. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.52 and a quick ratio of 1.32. Patterson-UTI Energy has a fifty-two week low of $7.15 and a fifty-two week high of $12.65.

Analyst Upgrades and Downgrades

PTEN has been the topic of several analyst reports. Susquehanna dropped their price target on shares of Patterson-UTI Energy from $13.00 to $10.00 and set a "positive" rating on the stock in a research note on Friday, October 11th. Royal Bank of Canada cut their target price on Patterson-UTI Energy from $12.00 to $11.00 and set an "outperform" rating on the stock in a report on Friday, October 25th. The Goldman Sachs Group upgraded Patterson-UTI Energy from a "neutral" rating to a "buy" rating and decreased their price target for the stock from $11.00 to $10.00 in a research note on Friday, December 13th. StockNews.com downgraded Patterson-UTI Energy from a "hold" rating to a "sell" rating in a research note on Saturday, October 12th. Finally, Raymond James cut Patterson-UTI Energy from a "strong-buy" rating to a "market perform" rating in a research report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $11.63.

Insider Buying and Selling at Patterson-UTI Energy

In other news, Director James Carl Stewart sold 80,000 shares of the business's stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $7.36, for a total transaction of $588,800.00. Following the sale, the director now directly owns 32,438 shares in the company, valued at approximately $238,743.68. The trade was a 71.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 2.30% of the company's stock.

Patterson-UTI Energy Company Profile

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.