Why Is Patterson-UTI (PTEN) Down 13.6% Since Last Earnings Report? [Yahoo! Finance]
Patterson-UTI Energy, Inc. (PTEN)
Last patterson-uti energy, inc. earnings: 4/23 06:01 am
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US:NASDAQ Investor Relations:
patenergy.com
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Source: Yahoo! Finance
Will the recent negative trend continue leading up to its next earnings release, or is Patterson-UTI due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts. Patterson-UTI Q2 Earnings & Sales Miss Patterson-UTI Energy reported second-quarter 2024 adjusted net profit of 5 cents per share, missing the Zacks Consensus Estimate of 9 cents. This underperformance was mainly due to poor contribution from the Drilling Services segment. Total revenues of $1.3 billion missed the Zacks Consensus Estimate of $1.4 billion. However, the top line increased 77.7% year over year. This outperformance can be attributed to PTEN's increased year-over-year revenue contribution from its Completion Services segment. Patterson, a leading provider of oilfield services and products to oil and natural gas exploration and production companies, will pay
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PTEN
News
- Patterson-UTI Energy, Inc. (NASDAQ: PTEN) had its price target lowered by analysts at Morgan Stanley from $12.00 to $10.00. They now have an "equal weight" rating on the stock.MarketBeat
- Nabors cut at Citi on limited near-term free cash flow; Patterson-UTI preferred [Seeking Alpha]Seeking Alpha
- Patterson-UTI Energy, Inc. (NASDAQ: PTEN) had its price target lowered by analysts at Citigroup Inc. from $12.50 to $11.00. They now have a "buy" rating on the stock.MarketBeat
- Patterson-UTI Reports Drilling Activity for August 2024Accesswire
- Patterson-UTI Energy, Inc. (NASDAQ: PTEN) had its price target lowered by analysts at ATB Capital from $12.00 to $11.00. They now have an "outperform" rating on the stock.MarketBeat
PTEN
Earnings
- 7/24/24 - Miss
PTEN
Sec Filings
- 9/3/24 - Form 8-K
- 9/3/24 - Form 8-K
- 8/20/24 - Form 4
- PTEN's page on the SEC website