Seventy Seven Energy
How Did PTEN and Seventy Seven Energy’s Stock Prices Move?
In the past year, Patterson-UTI Energy’s stock price nearly doubled. Since August 19, Seventy Seven’s stock price rose 74%.
Patterson-UTI Energy’s Stock Price Returns after 4Q16
Patterson-UTI Energy released its financial results for 4Q16 on February 9. Its stock price rose ~2% to $27.84 from the closing price on February 8.
Patterson-UTI Energy Has Risen 87% in 1 Year
In the past year, Patterson-UTI Energy stock has risen 87% as of February 17, 2017. It’s outperformed the VanEck Vectors Oil Services ETF’s return of ~35% in the same period.
Did Analysts Change Their Recommendations on PTEN?
There are at least nine broker rating changes for Patterson-UTI Energy in 2016. JPMorgan Chase (JPM) upgraded its rating to “neutral” on December 7.
Will Merger Agreement Restrict Patterson-UTI Energy’s Dividend?
On February 9, 2017, Patterson-UTI Energy (PTEN) declared a dividend per share (or DPS) of $0.02 to be paid on March 22, 2017.
Patterson-UTI Energy’s Forecasts for 2017
Patterson-UTI Energy’s (PTEN) operated average US rig count is expected to rise 21.0% in 1Q17 compared to 4Q16.
Could PTEN Benefit from Acquiring Seventy Seven Energy?
On December 12, 2016, Patterson-UTI Energy (PTEN), one of the prominent contract drillers in North America, disclosed that it agreed to acquire Seventy Seven Energy (SVNT).
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Stock price returns for Flotek Industries In the past two years, Flotek Industries’ (FTK) stock price was at its highest in October 2015. It troughed at ~$5.50 in January 2016. FTK’s stock has produced returns of -60%. Returns from Flotek Industries’ peers and industry Between December 2014 and December 2016, Halliburton’s (HAL) stock price rose […]
PTEN Plans to Acquire Seventy Seven Energy
On December 12, Patterson-UTI Energy, one of the prominent contract drillers in North America, disclosed that it agreed to acquire Seventy Seven Energy.
Deal Partners: Analyzing PTEN and Seventy Seven Energy
Patterson-UTI Energy expects to achieve synergies in excess of $50 million. It’s estimated that the merger will be accretive to cash flow per share.