The Bear Case for Patterson-UTI Energy, Inc. (PTEN)

Cornelia Mascio
Ottobre 21, 2017

(NASDAQ:PTEN)'s stock was -29.68%.

The company now has an insider ownership of 1.7 Percent and Institutional ownership of 0 Percent. Dimensional Fund Advisors LP now owns 12,526,004 shares of the company's stock worth $267,050,000 after buying an additional 736,099 shares during the last quarter. UBS AG restated a "buy" rating and issued a $25.00 price target (down from $35.00) on shares of Patterson-UTI Energy in a report on Monday, July 31st. Vanguard Group Inc. now owns 11,135,040 shares of the company's stock worth $237,399,000 after buying an additional 306,535 shares during the last quarter. The volume of 5.09 Million shares climbed up over an trading activity of 4.37 Million shares. Bank of New York Mellon Corp now owns 3,280,292 shares of the oil and gas company's stock worth $66,229,000 after purchasing an additional 1,228,607 shares during the period.

Patterson-UTI Energy, Inc is an oilfield services company. State Street Corp now owns 4,560,587 shares of the oil and gas company's stock worth $110,685,000 after purchasing an additional 418,702 shares during the period.

Institutions own - of Patterson-UTI Energy, Inc. (NASDAQ:VVUS) are $0.93 and $1.06.

By taking a look at the stock's current statistics it can gauged that the stock candle is BEARISH with HIGH volatility.

The stock's 50 day moving average is 19.39 and its 200 day moving average is 20.15. The company's market cap is $3.54 billion. The larger the percentage, the better it is At the moment, Patterson-UTI Energy, Inc.

Patterson-UTI Energy Inc. (NASDAQ:PTEN) reported its EPS in the last quarter as $-0.21/Share beating the analyst estimate of $-0.3/Share by a difference of $0.09. Shares are now up over the past year, outperforming the broad market by -100% and underperformed a peer group of similar companies by -25%. Over the last week of the month, it was -7.79%, -4.15% over the last quarter, and -15.83% for the past six months.

Patterson-UTI Energy, Inc. (NASDAQ:PTEN)posting a -3.02% after which it closed the day' session at $18.93 and sees an average of 4.37M shares trade hands in each session while it's while its relative trading volume is 1.16.

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 22nd. State Street Corp grew its stake in shares of Patterson-UTI Energy by 10.1% during the 1st quarter.

PTEN has been the topic of a number of other reports. Meanwhile, the average 12-month price target from Wall Street analysts is now $24.67, this means that the stock is underpriced by 23.267%. Macquarie cut Patterson-UTI Energy from a "neutral" rating to an "underperform" rating and set a $14.00 target price on the a research report on Tuesday, August 9th.

They hope that the stock price will fall or that the company will fail and go bankrupt, leading the equity holders to ruin.

Now we will discuss the financial strength of Patterson-UTI Energy Inc. Finally, Citigroup Inc. raised their target price on Patterson-UTI Energy from $21.00 to $26.00 and gave the company a "neutral" rating in a research report on Tuesday, October 11th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eighteen have assigned a buy rating to the company.

Shorting a stock can be very risky if the price doesn't decline like planned and, in fact, increases. The Company owns and operates a fleet of land-based drilling rigs and a fleet of pressure pumping equipment in the United States.

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