Patterson-UTI Energy, Inc. (NASDAQ:PTEN) is reporting second quarter earnings results on Thursday 23rd July 2020, before market open.
The consensus estimates from Thomson Reuters are loss of $ 0.58 per share.
For the full year, analysts predict revenues of $ 1079.93 million, while looking forward to loss of $ 2.28 per share.
Previous Quarter Performance
Patterson-UTI Energy, Inc. reported loss for the first quarter of $ 0.45 per share, from the revenue of $ 445.93 million. The quarterly revenues shrunk 36.67 percent compared with the same quarter last year. The consensus estimates are loss of $ 0.47 per share from $ 443.36 million in revenue. The bottom line results beat street analysts by $ 0.02 or 4.26 percent, at the same time, top line results outshined analysts by $ 2.57 million or 0.58 percent.
Historical Earnings Performance
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Stock Performance
According to the previous trading day, closing price of PTEN was $ 3.67, representing a 127.95 % increase from the 52 week low of $ 1.61 and a 69.54 % decrease over the 52 week high of $ 12.05.
The company has a market capital of $ 716.17 million and is part of the Energy sector and Oil & Gas Drilling industry.
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Recent Analyst recommendations
On 8th July 2020, maintained by Morgan Stanley at Equal-Weight rating, with $ 3.50 target price.
On 28th May 2020, maintained by Citigroup at Neutral rating, with $ 4.50 target price.
Recent Stock Dividend Announcement
On April 23, 2020, the board of directors authorized quarterly dividend of $ 0.02 per share to holders of record as of the close of business on June 4, 2020, with payment date of June 18, 2020 and ex-dividend date on June 3, 2020.
Conference Call
Patterson-UTI Energy, Inc. will be hosting a conference call at 10:00 AM eastern time on 23rd July 2020, to discuss its 2Q20 financial results with the investment community. A live webcast with presentations will be available on the Internet by visiting the Company website www.patenergy.com
Patterson-UTI Energy, Inc., through its subsidiaries, provides onshore contract drilling services to oil and natural gas operators in the United States and Canada. It operates through three segments: Contract Drilling Services, Pressure Pumping Services, and Directional Drilling Services. The Contract Drilling segment markets its contract drilling services primarily in west Texas and southeastern New Mexico, north central and east Texas, northern Louisiana, Colorado, Wyoming, North Dakota, south Texas, western Oklahoma, Pennsylvania, Ohio, West Virginia, and western Canada.
