Patterson-UTI Energy (NASDAQ:PTEN) has been given a $25.00 price target by research analysts at Jefferies Group in a research report issued to clients and investors on Friday. The firm currently has a “buy” rating on the oil and gas company’s stock. Jefferies Group’s target price points to a potential upside of 38.58% from the company’s previous close. Jefferies Group also issued estimates for Patterson-UTI Energy’s Q2 2018 earnings at $0.01 EPS.

A number of other research analysts have also issued reports on PTEN. Cowen reiterated a “market perform” rating and set a $23.00 price target (down previously from $30.00) on shares of Patterson-UTI Energy in a research report on Friday. Royal Bank of Canada set a $34.00 price target on Patterson-UTI Energy and gave the stock a “buy” rating in a research report on Monday, February 5th. ValuEngine lowered Patterson-UTI Energy from a “hold” rating to a “sell” rating in a research report on Friday, February 2nd. Citigroup set a $24.00 price target on Patterson-UTI Energy and gave the stock a “buy” rating in a research report on Friday. Finally, Howard Weil upgraded Patterson-UTI Energy from a “sector perform” rating to a “sector outperform” rating in a research report on Friday, January 12th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $26.84.

Patterson-UTI Energy (NASDAQ:PTEN) opened at $18.04 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.23 and a quick ratio of 1.16. Patterson-UTI Energy has a 12-month low of $14.83 and a 12-month high of $29.76.

Patterson-UTI Energy (NASDAQ:PTEN) last announced its quarterly earnings results on Thursday, February 8th. The oil and gas company reported ($0.10) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.08) by ($0.02). Patterson-UTI Energy had a negative return on equity of 5.07% and a net margin of 0.25%. The business had revenue of $787.33 million for the quarter, compared to analyst estimates of $764.84 million. During the same quarter last year, the firm posted ($0.53) EPS. The company’s revenue was up 218.9% compared to the same quarter last year. equities research analysts predict that Patterson-UTI Energy will post 0.05 earnings per share for the current fiscal year.

In other news, Director Tiffany J. Thom sold 2,574 shares of the company’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $23.08, for a total value of $59,407.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 4.60% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. American International Group Inc. lifted its holdings in shares of Patterson-UTI Energy by 5.4% in the fourth quarter. American International Group Inc. now owns 459,957 shares of the oil and gas company’s stock valued at $10,584,000 after buying an additional 23,489 shares during the period. Royce & Associates LP lifted its holdings in shares of Patterson-UTI Energy by 30.5% in the fourth quarter. Royce & Associates LP now owns 677,400 shares of the oil and gas company’s stock valued at $15,587,000 after buying an additional 158,400 shares during the period. Penn Capital Management Co. Inc. lifted its holdings in shares of Patterson-UTI Energy by 31.7% during the fourth quarter. Penn Capital Management Co. Inc. now owns 81,690 shares of the oil and gas company’s stock valued at $1,910,000 after purchasing an additional 19,646 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Patterson-UTI Energy by 621.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 8,444 shares of the oil and gas company’s stock valued at $194,000 after purchasing an additional 7,274 shares during the last quarter. Finally, BlackRock Inc. lifted its holdings in shares of Patterson-UTI Energy by 10.4% during the fourth quarter. BlackRock Inc. now owns 20,590,666 shares of the oil and gas company’s stock valued at $473,793,000 after purchasing an additional 1,941,119 shares during the last quarter. Institutional investors and hedge funds own 98.46% of the company’s stock.

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Patterson-UTI Energy Company Profile

Patterson-UTI Energy, Inc is an oilfield services company. The Company owns and operates a fleet of land-based drilling rigs and a fleet of pressure pumping equipment in the United States. The Company’s segments include Contract Drilling, Pressure Pumping and Other operations. The Contract Drilling segment markets its contract drilling services to independent and other oil and natural gas operators.

Analyst Recommendations for Patterson-UTI Energy (NASDAQ:PTEN)

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