Published: Wed, September 13, 2017
Markets | By Noel Gibbs

Analyst Opinion Summary: Patterson-UTI Energy, Inc. (PTEN), Ceragon Networks Ltd. (CRNT)

Analyst Opinion Summary: Patterson-UTI Energy, Inc. (PTEN), Ceragon Networks Ltd. (CRNT)

Among 30 analysts covering Patterson-UTI Energy Inc (NASDAQ:PTEN), 20 have Buy rating, 1 Sell and 9 Hold. (NASDAQ:PTEN) by 1.1% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 554,595 shares of the oil and gas company's stock after purchasing an additional 533,865 shares during the period. Energy Opportunities Capital Management Llc owns 846,451 shares or 6.02% of their U.S. portfolio.

Patterson-UTI Energy (NASDAQ:PTEN) last issued its quarterly earnings data on Thursday, July 27th. Marathon Capital Management sold 97,806 shares as Hudson Technologies Inc (HDSN)'s stock rose 4.79%. In contrast to the year ago quarter EPS was at -0.37. Arizona State Retirement System now owns 69,700 shares of the oil and gas company's stock valued at $1,407,000 after purchasing an additional 500 shares during the last quarter. The firm has "Hold" rating given on Wednesday, June 21 by BMO Capital Markets. Amer Intll Group Inc invested in 0.03% or 285,738 shares.

Patterson-UTI Energy Inc. was covered by a number of analysts recently, 8 rated the stock as Buy, 11 rated Outperform, 8 rated Hold, 1 gave an Underperform and 0 rated sell. Hedge funds and other institutional investors own 98.57% of the company's stock.

05/08/2017 - Patterson-UTI Energy, Inc. was upgraded to "overweight" by analysts at Capital One. "(PTEN)" was originally reported by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are reading this article on another site, it was illegally stolen and republished in violation of USA and global trademark & copyright law.

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PTEN has been the subject of several analyst reports.

As the second largest directional drilling company in USA onshore, according to Spears & Associates, MS Energy will improve Patterson-UTI's overall unconventional well costs and improve returns, said Mike Kelly, senior analyst with Seaport Global Securities LLC. The firm has "Buy" rating by RBC Capital Markets given on Friday, September 1. Finally, J P Morgan Chase & Co raised shares of Patterson-UTI Energy from a "neutral" rating to an "overweight" rating and set a $24.00 price target for the company in a report on Tuesday, September 5th. The company was upgraded on Wednesday, April 5 by Nomura. The lowest target is $26.0 while the high is $27.0. Patterson-UTI Energy, Inc. has a 52 week low of $14.83 and a 52 week high of $29.76. (NASDAQ:PTEN) opened at 17.57 on Tuesday.

Looking further out, over the past twelve months, Patterson-UTI Energy, Inc.'s stock was -8.30% and -15.33% over the last quarter and -31.21% for the past six months.

Patterson-UTI's acquisition is the latest deal by a USA land driller seeking to augment traditional revenue streams as drilling efficiencies lead operators to deploy fewer rigs, Tudor, Pickering, Holt & Co. It increased, as 38 investors sold PTEN shares while 99 reduced holdings. State Street Corp now owns 4,560,587 shares of the oil and gas company's stock valued at $110,685,000 after buying an additional 418,702 shares during the period. The firm had revenue of $579 million for the quarter, compared to the consensus estimate of $556.47 million. However it has a net margin of -23.80%. During the same quarter in the previous year, the business earned ($0.58) EPS.

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Analog Devices, Inc. (ADI) have shown a high EPS growth of -0.20% in the last 5 years and has earnings rose of 25.50% yoy. The stock of Patterson-UTI Energy, Inc.

As of late the company also announced dividend for the quarter, expected to be paid on Early Thur, Sep 21st. Stockholders of record on Thursday, September 7th will be issued a $0.02 dividend. The ex-dividend date was Tuesday the 6th of June 2017. It last reported revenues of $388.8 million and EPS of $0.01 for the June 2017, representing 19% top-line growth and -0.05 EPS growth. Susquehanna maintained Patterson-UTI Energy, Inc.

Patterson-UTI Energy, Inc. (NASDAQ:PTEN) ended its day at $17.57 with the rising stream of 3.35% and its total traded volume was 4.08 million shares less than the average volume.

Patterson-UTI Energy, Inc owns and operates fleets of land-based drilling rigs and a fleet of pressure pumping equipment in the United States.

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