Citigroup Maintains Patterson-UTI Energy to Neutral with Price Target $21.00

Brokerage firm Citigroup Maintains its rating on Patterson-UTI Energy(NASDAQ:PTEN). In a research note issued to the investors, the brokerage major Lowers the price-target to $21.00 per share. The shares have been rated Neutral. The rating by Citigroup was issued on Sep 12, 2016.

In a different note, On Aug 9, 2016, Citigroup said it Maintains its rating on Patterson-UTI Energy. In the research note, the firm Lowers the price-target to $23.00 per share. The shares have been rated ‘Neutral’ by the firm. On Aug 1, 2016, Deutsche Bank said it Maintains its rating on Patterson-UTI Energy. In the research note, the firm Lowers the price-target to $26.00 per share. The shares have been rated ‘Buy’ by the firm. On Jul 13, 2016, Citigroup said it Maintains its rating on Patterson-UTI Energy. In the research note, the firm Raises the price-target to $20.00 per share. The shares have been rated ‘Neutral’ by the firm. On Jul 11, 2016, Jefferies said it Upgrades its rating on Patterson-UTI Energy. In the research note, the firm Raises the price-target to $19.00 per share. The shares have been rated ‘Buy’ by the firm. On Jun 29, 2016, Simmons & Co. said it Upgrades its rating on Patterson-UTI Energy. The shares have been rated ‘Overweight’ by the firm.

Patterson-UTI Energy (PTEN) shares turned negative on Tuesdays trading session with the shares closing down -0.48 points or -2.49% at a volume of 42,76,775. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $19.26. The peak price level was also seen at $19.26 while the days lowest was $18.44. Finally the shares closed at $18.78. The 52-week high of the shares is $22.12 while the 52-week low is $10.935. According to the latest information available, the market cap of the company is $2,774 M.

Patterson-UTI Energy(PTEN) last announced its earnings results on Jul 28, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $193.91M. Analysts had an estimated revenue of $191.68M. Earnings per share were $-0.58. Analysts had estimated an EPS of $-0.63.

Patterson-UTI Energy Inc. owns and operates fleets of land-based drilling rigs and a fleet of pressure pumping equipment in the United States. The Company operates in three segments: Contract Drilling; Pressure Pumping and Oil and Natural Gas. The Company markets its contract drilling services to oil and natural gas operators in the continental United States and western and northern Canada. The Company’s Pressure Pumping segment provides pressure pumping services to oil and natural gas operators in Texas Southwest Region and the Appalachian region Northeast Region. The Company’s Oil and Natural Gas segment owns and invests in oil and natural gas assets as a non-operating working interest owner. The Company’s oil and natural gas working interests are located in producing regions of Texas and New Mexico.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *

Patterson-UTI Energy - Is it time to Sell?

Top Brokerage Firms are advising their investors on Patterson-UTI Energy. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.