Patterson-UTI Energy, Inc. (NASDAQ:PTEN) Analyst Opinion
Patterson-UTI Energy, Inc. (NASDAQ:PTEN) stock is presently standing at about $25.54 and lots of equity research firms seem to have a target price set on the stock. The median one-year price target of 27 analysts covering the company is $31.00, which suggests the stock could still rise over 18 percent. The highest analyst price target is $40.00, which implies a rally of 43 percent. And a quick view of analyst notes show that 11 are rating the stock a buy while 7 rate PTEN a strong buy. There are 12 equity research firms advocating a Hold and 0 consider it Sell.
Guggenheim analysts provided their view on Patterson-UTI Energy, Inc. (NASDAQ:PTEN) recently. The rating firm issued a Buy rating to this company in a research note released on Feb 14, 2017. Cowen analysts disclosed their opinion on Patterson-UTI Energy, Inc. (NASDAQ:PTEN) recently. The rating firm gave a Market Perform rating to this stock in a research note published on Jan 19, 2017. According to a research note disclosed on Jan 04, 2017, analysts at Credit Suisse have upped their rating on these shares from Underperform to Neutral.
Patterson-UTI Energy, Inc. (NASDAQ:PTEN) Transactions Roundup
Several insiders were part of recent insider activity for the stock. Its Director Conlon Michael W Purchased 3,000 company shares for 69990, in a transaction on 2014-10-29. Following the transaction, the Director is left with a stake of 15,000 shares, currently valued at $383100. Meanwhile, Director TALBOTT CLOYCE A sold 400,000 shares worth $13796000, through a transaction dated 2014-06-27. Following the completion of the transaction, the insider is left with a stake of 290,476 shares, amounting $7418757.04. PTEN Senior Vice President BERNS KENNETH N also sold 85,000 shares, at a stock price of $33.62. This transaction occurred on 2014-06-12 totals $2857700. After this transaction, the insider’s stake stands at 407,241 shares, with a market value of $10400935.
Executives hold 2.74 percent of the stock. Mark S. Siegel is one of the biggest insider owners in Patterson-UTI Energy, Inc. (NASDAQ:PTEN), according to U.S. Securities and Exchange Commission (SEC) filings. The insider owns 947,246 shares which have current market value of around $24192662.84.John E. Vollmer,III is another major inside shareholder in the company. The insider owns 678,300 shares as of 0.41%, currently worth $17323782. Kenneth N. Berns is ranked as third insider holder of the stock. This insider holds 397,722 shares with a market value around $10157819.88 as of recent close.
Patterson-UTI Energy, Inc. (NASDAQ:PTEN) Earnings Outlook
In Patterson-UTI Energy, Inc. (NASDAQ:PTEN)’s latest quarter, EPS moved to $-0.53 from $-0.57 in preceding quarter and revenues reached at $246.89M compared to $206.13M. Analysts had expected Patterson-UTI Energy, Inc. (NASDAQ:PTEN) to post net income of about $-0.54 per share on $237.46M in revenue. Looking ahead, analysts on average predict that earnings for the current quarter would come in in the range of $-0.49 to $-0.38. That is compared with the $-0.55 in EPS it reported during the same period a year ago.