Patterson-UTI Energy, Inc. (NASDAQ:PTEN) Given Price Target Of $21.666


As per Patterson-UTI Energy, Inc. (NASDAQ:PTEN)’s news release on 2016-07-28, its shareholders will get cash dividend of $0.02 per share. The recent press release updated on the record date and payout date, which stands at 2016-09-08 and 2016-09-22, respectively.

The stock will commence trading ex-dividend from 2016-09-06, until, which the shareholders are compelled to keep the holdings so as to qualify for the dividend. Evaluating the dividend distribution mode, it was noted that last year Patterson-UTI Energy, Inc. (NASDAQ:PTEN) disbursed $0.02 in dividend compared to distribution of $0.02, a year ago.

It highlights a sharp difference in cash payouts of the two years. This shows a major deviation of 0%.

Analyst Perspective

The sell-side market professionals who track the firm’s financial and technical parameters have estimated Patterson-UTI Energy, Inc. (NASDAQ:PTEN) to attain a price target of $21.666. It is an average estimate figure given by 18 analysts tracking the stock. The estimates disclosed that the stock can move up on the chart and hit a high of $34. The low price range is set at $12 for next year while the arithmetic mean is seen at 2.27.

Eyeing Earnings Patterson-UTI Energy, Inc. (NASDAQ:PTEN) is likely to post quarterly numbers around 2016-10-27 for the quarter ending 2016-09-30. The quarterly EPS projection is set at $-0.59 for the period ending on 2016-09-30.

In last quarter ended 2015-12-31, Patterson-UTI Energy, Inc. (NASDAQ:PTEN) earnings came at $-0.58 suggesting a deviation of $0.05. The brokerages targeted EPS of $-0.63 for the quarter.

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