Simmons & Co. Upgrades Patterson-UTI Energy to Overweight

Brokerage firm Simmons & Co. Upgrades its rating on Patterson-UTI Energy(NASDAQ:PTEN). The shares have been rated Overweight. Previously, the analysts had a Neutral rating on the shares. The rating by Simmons & Co. was issued on Jun 29, 2016.

In a different note, On Jun 1, 2016, Credit Suisse said it Downgrades its rating on Patterson-UTI Energy. In the research note, the firm Raises the price-target to $14.00 per share. The shares have been rated ‘Underperform’ by the firm. On May 2, 2016, GMP Securities said it Downgrades its rating on Patterson-UTI Energy. The shares have been rated ‘Hold’ by the firm. On Apr 29, 2016, Wunderlich said it Downgrades its rating on Patterson-UTI Energy. The shares have been rated ‘Hold’ by the firm. On Apr 19, 2016, Morgan Stanley said it Maintains its rating on Patterson-UTI Energy. In the research note, the firm Raises the price-target to $18.50 per share. The shares have been rated ‘Overweight’ by the firm. On Apr 18, 2016, Stephens & Co. said it Maintains its rating on Patterson-UTI Energy. In the research note, the firm Lowers the price-target to $12.00 per share. The shares have been rated ‘Underweight’ by the firm. On Apr 15, 2016, JP Morgan said it Downgrades its rating on Patterson-UTI Energy. The shares have been rated ‘Underweight’ by the firm.

Patterson-UTI Energy (PTEN) made into the market gainers list on Fridays trading session with the shares advancing 1.74% or 0.37 points. Due to strong positive momentum, the stock ended at $21.69, which is also near the day’s high of $21.95. The stock began the session at $21.31 and the volume stood at 29,26,972 shares. The 52-week high of the shares is $22.12 and the 52 week low is $10.935. The company has a current market capitalization of $3,196 M and it has 14,73,70,200 shares in outstanding.

Patterson-UTI Energy(PTEN) last announced its earnings results on Apr 28, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $268.94M. Analysts had an estimated revenue of $258.11M. Earnings per share were $-0.47. Analysts had estimated an EPS of $-0.54.

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.