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PTEN

Patterson-UTI

$8.49

-0.095 (-1.11%)

19:45
11/19/19
11/19
19:45
11/19/19
19:45

Patterson-UTI initiated with a Sell at Deutsche Bank

Deutsche Bank analyst Chris Snyder initiated coverage of Patterson-UTI with a Sell rating and $7 price target. The analyst notes that the U.S. land drilling market is "structurally impaired" as improvements in drilling have allowed U.S. producers to drill a "higher cadence of more productive wells" with fewer rigs. Snyder adds that while the issues facing U.S. pressure pumping market are "cyclical rather than structural", pricing will remain pressured "through at least late 2020."

PTEN Patterson-UTI
$8.49

-0.095 (-1.11%)

10/08/19
BOFA
10/08/19
DOWNGRADE
BOFA
BofA sees more weakness ahead for U.S. land drillers, downgrades four stocks
As previously reported, BofA Merrill Lynch analyst Chase Mulvehill downgraded Helmerich & Payne (HP) and Patterson-UTI (PTEN), each to Neutral from Buy, and downgraded Nine Energy Services (NINE) and FTS International (FTSI), each to Underperform from Neutral. Mulvehill said capital discipline and service efficiency gains from U.S. E&P comapnies is leading to intensifying weakness across the Oil Field Services sector, driving activity that has been even worse than his already more cautious view. He also sees it as increasingly likely that 2020 will be another year of spending contraction for U.S. explorers and producers. For the two stocks he cut to Underperform, Mulvehill additionally cited the companies' levered balance sheets.
10/08/19
10/08/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Oracle (ORCL), Carbonite (CARB), and Check Point (CHKP) downgraded to Hold from Buy at Jefferies. 2. TerraForm Power (TERP) downgraded to Equal Weight from Overweight at Barclays. 3. Puma Biotechnology (PBYI) downgraded to Sell from Neutral at Goldman Sachs while Nektar Therapeutics (NKTR) was double downgraded to Sell from Buy. 4. Qiagen (QGEN) downgraded to Underweight from Neutral at JPMorgan and to Equal Weight from Overweight at Barclays. 5. Helmerich & Payne (HP) and Patterson-UTI (PTEN) downgraded to Neutral from Buy at BofA/Merrill. Nine Energy Services (NINE) and FTS International (FTSI) downgraded to Underperform from Neutral at BofA/Merrill. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/15/19
RAJA
10/15/19
NO CHANGE
Target $37
RAJA
Strong Buy
Raymond James sees 'disappointing' quarter for oil services market
Raymond James analyst Praveen Narra previewed the Oilfield Services space, telling investors in a research note that he expects Q3 to be another disappointing quarter for the oil services market as activity plunged throughout the quarter. The weakness in the quarter was apparent from June, but was exacerbated by September's steep activity decline that was far more pronounced than expected, Narra says, adding that it appears "unlikely" that Q4 will offer a reprieve from pain, and is more likely to accelerate due to E&P budget exhaustion. The analyst expects consensus estimates to decline further through earnings season. He lowered his price target for Cactus, Inc (WHD) to $37 from $40, for Halliburton (HAL) to $32 from $37, for National Oilwell Varco (NOV) to $28 from $34, for Newpark Resources to $10 from $12, for Nine Energy Service (NINE) to $11 from $15, for Patterson-UTI Energy (PTEN) to $12 from $17, for Oil States International (OIS) to $20 from $23, for Unit Corp (UNT) to $8 from $14 and for USA Compression to $20 from $21.
11/19/19
DBAB
11/19/19
INITIATION
Target $7
DBAB
Sell
Patterson-UTI initiated with a Sell at Deutsche Bank
Deutsche Bank initiated coverage of Patterson-UTI with a Sell rating and $7 price target.

TODAY'S FREE FLY STORIES

ACB

Aurora Cannabis

$2.52

-0.095 (-3.63%)

21:25
12/10/19
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Aurora Cannabis management to meet with Cantor Fitzgerald. »

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SPY

SPDR S&P 500 ETF Trust

$313.58

-0.29 (-0.09%)

, SPX

S&P 500

$0.00

(0.00%)

21:00
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White House Navarro says 'no indication' Dec 15th tariffs will be delayed »

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SPY

SPDR S&P 500 ETF Trust

$313.58

-0.29 (-0.09%)

SPX

S&P 500

$0.00

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T

AT&T

$38.07

0.025 (0.07%)

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AEO

American Eagle

$15.13

-0.21 (-1.37%)

, PLCE

Children's Place

$70.67

0.68 (0.97%)

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Earnings
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AEO

American Eagle

$15.13

-0.21 (-1.37%)

PLCE

Children's Place

$70.67

0.68 (0.97%)

UNFI

United Natural Foods

$9.88

0.19 (1.96%)

VRA

Vera Bradley

$12.05

-0.09 (-0.74%)

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SAGE

Sage Therapeutics

$63.23

0.55 (0.88%)

20:15
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Sage Therapeutics CSO buys 25K shares of common stock »

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SAGE

Sage Therapeutics

$63.23

0.55 (0.88%)

20:14
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Hot Stocks
Sage Therapeutics CEO buys 7.5K shares of common stock »

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XP

XP

$0.00

(0.00%)

20:11
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Syndicate
XP 72.5M share IPO priced at $27.00 »

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  • 11

    Dec

PMT

PennyMac Mortgage

$22.75

-0.055 (-0.24%)

20:08
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Syndicate
PennyMac Mortgage 8M share Spot Secondary priced at $22.10 »

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  • 11

    Dec

SALM

Salem Media

$1.49

0.03 (2.05%)

19:48
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Hot Stocks
Salem Media cuts quarterly dividend to 2.5c from 6.5c per share »

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HROW

Harrow Health

$6.74

0.21 (3.22%)

19:46
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12/10
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Surgical Eyedrop wins return of patent from Harrow Health »

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ZUMZ

Zumiez

$34.02

-0.67 (-1.93%)

19:32
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19:32
Hot Stocks
Zumiez director sells 5.8K shares of common stock »

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TRC

Tejon Ranch

$16.07

0.02 (0.12%)

18:47
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12/10
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Hot Stocks
Ken County board of supervisors reaffirms approval of Grapevine at Tejon Ranch »

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EXTR

Extreme Networks

$6.89

0.02 (0.29%)

, AVGO

Broadcom

$315.10

0.61 (0.19%)

18:43
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12/10
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Hot Stocks
Extreme Networks CEO: We've always been software driven »

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EXTR

Extreme Networks

$6.89

0.02 (0.29%)

AVGO

Broadcom

$315.10

0.61 (0.19%)

03/08/13
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  • 10

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WDFC

WD-40

$194.80

-0.94 (-0.48%)

18:36
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WD-40 names Garry Ridge as new board Chairman »

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  • 10

    Dec

ASPU

Aspen Group

$7.00

0.02 (0.29%)

, OLLI

Ollie's Bargain Outlet

$60.28

(0.00%)

18:34
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Fly Intel: After Hours Movers »

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ASPU

Aspen Group

$7.00

0.02 (0.29%)

OLLI

Ollie's Bargain Outlet

$60.28

(0.00%)

PLAY

Dave & Buster's

$40.07

-0.2 (-0.50%)

PLT

Plantronics

$22.93

-0.44 (-1.88%)

CHH

Choice Hotels

$97.40

-0.03 (-0.03%)

LDOS

Leidos

$89.63

-0.47 (-0.52%)

GME

GameStop

$6.50

0.18 (2.85%)

CORV

Correvio

$1.39

(0.00%)

AQST

Aquestive Therapeutics

$7.60

-0.14 (-1.81%)

KIDS

OrthoPediatrics

$38.40

-0.35 (-0.90%)

MDGL

Madrigal Pharmaceuticals

$118.45

1.16 (0.99%)

RCKT

Rocket Pharmaceuticals

$24.22

1.22 (5.30%)

MNTA

Momenta

$18.09

0.19 (1.06%)

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  • 10

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NFLX

Netflix

$293.21

-9.27 (-3.06%)

, UBER

Uber

$27.89

0.18 (0.65%)

18:27
12/10/19
12/10
18:27
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18:27
Periodicals
Peru seeks sales taxes from Netflix, Uber, Spotify, Reuters says »

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NFLX

Netflix

$293.21

-9.27 (-3.06%)

UBER

Uber

$27.89

0.18 (0.65%)

SPOT

Spotify

$145.73

-0.71 (-0.48%)

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  • 10

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UBS

UBS

$11.95

-0.07 (-0.58%)

18:25
12/10/19
12/10
18:25
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18:25
Periodicals
Judge rebuffs UBS' effort to reject U.S. lawsuit, Reuters reports »

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  • 10

    Dec

18:25
12/10/19
12/10
18:25
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General news
Treasury Market Summary »

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AKS

AK Steel

$3.41

0.08 (2.40%)

, MT

ArcelorMittal

$17.66

-0.05 (-0.28%)

18:22
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Hot Stocks
USW union expresses support for new USMCA »

United Steelworkers…

AKS

AK Steel

$3.41

0.08 (2.40%)

MT

ArcelorMittal

$17.66

-0.05 (-0.28%)

NUE

Nucor

$57.76

0.005 (0.01%)

STLD

Steel Dynamics

$34.89

-0.21 (-0.60%)

X

U.S. Steel

$13.88

-0.215 (-1.53%)

TMST

TimkenSteel

$7.23

0.12 (1.69%)

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CHH

Choice Hotels

$97.40

-0.03 (-0.03%)

, PLT

Plantronics

$22.93

-0.44 (-1.88%)

18:16
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S&P announces changes to S&P MidCap 400, S&P SmallCap 600 indices »

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CHH

Choice Hotels

$97.40

-0.03 (-0.03%)

PLT

Plantronics

$22.93

-0.44 (-1.88%)

VSI

Vitamin Shoppe

$6.50

0.005 (0.08%)

FRG

Franchise Group

$14.39

(0.00%)

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  • 10

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XP

XP

$0.00

(0.00%)

18:10
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12/10
18:10
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18:10
Syndicate
Breaking Syndicate news story on XP »

XP prices IPO at $27,…

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  • 11

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MSFT

Microsoft

$151.18

-0.17 (-0.11%)

17:50
12/10/19
12/10
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17:50
Hot Stocks
Microsoft, NTT in strategic alliance for enterprise digital transformation »

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  • 10

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GLD

SPDR Gold Shares

$137.96

0.37 (0.27%)

17:45
12/10/19
12/10
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17:45
Hot Stocks
SPDR Gold Shares holdings fall to 885.93MT from 886.23MT »

This is the lowest level…

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CBZ

CBIZ

$27.10

0.16 (0.59%)

17:40
12/10/19
12/10
17:40
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17:40
Hot Stocks
CBIZ chairman Gerard sells 64,000 common shares »

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XERS

Xeris Pharmaceuticals

$8.99

0.14 (1.58%)

17:38
12/10/19
12/10
17:38
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17:38
Hot Stocks
Xeris Pharmaceuticals reports 'positive' phase 2 data in glucagon study »

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