Volatile Stocks: Patterson-UTI Energy, Inc. (NASDAQ:PTEN), ZIOPHARM Oncology (NASDAQ:ZIOP), D.R. Horton, Inc. (NYSE:DHI)
Patterson-UTI Energy, Inc. (NASDAQ:PTEN) stock closed at $22.45 in last session with the total traded volume of 3.19 Million. Patterson-UTI Energy, Inc. (PTEN) reported that it has closed its merger with Seventy Seven Energy Inc. Stockholders of Seventy Seven Energy are entitled to receive 1.7851 shares of newly issued Patterson-UTI common stock in exchange for each share of Seventy Seven Energy. Patterson-UTI issued approximately 47.5 million shares pursuant to the merger.
Concurrent with the closing of the merger, Patterson-UTI repaid all of the outstanding debt of Seventy Seven Energy totaling $472 million ($403 million net of cash from Seventy Seven Energy). Additionally, Patterson-UTI has entered into an contract with its lenders by which the accessible commitment under its revolving credit facility was surged to $632 million through September 2017, and to $490 million through March 2019.
Chairman of Patterson-UTI, Mark S. Siegel stated, “I would like to welcome the employees, consumers, and shareholders of Seventy Seven Energy to Patterson-UTI. We have always held the people and equipment at Seventy Seven Energy in high regard, and I am pleased for us to combine as one team. For Patterson-UTI, this is the most important transaction since the merger of Patterson and UTI, and further solidifies our position as a leading high-spec drilling company and gives us one of the largest and most modern pressure pumping fleets in the industry.”
As taking short look on the firm profit margin was recorded -34.80%, and operating margin was recorded -49.80%. How Outside Factors Effects on Stocks Performance? Find Inside Facts Here
ZIOPHARM Oncology, Inc. (NASDAQ:ZIOP) shown itself as moving stock, soared 0.28% to close at $7.10. ZIOPHARM Oncology, Inc. (ZIOP) revealed that it will present updated results from its Phase 1, multicenter, dose-escalation study of Ad-RTS-hIL-12 + orally administered veledimex in patients with recurrent or progressive glioblastoma at the 2017 American Society of Clinical Oncology (ASCO) Annual Meeting to be held June 2-6 in Chicago. Ad-RTS-hIL-12 + veledimexis a novel, viral gene therapy candidate for the controlled expression of interleukin-12 (IL-12), a pro-inflammatory cytokine critical for stimulating anti-cancer immune responses.
Its total outstanding shares are 132.37 million shares and a floated share was 127.91 million. Its beta value stands at 1.41 times. Why NASDAQ:ZIOP on Bearish Notes in Eye of Experts? Read Considerable Report Here
D.R. Horton, Inc. (NYSE:DHI) plummeted -2.50% to settle at $33.10 with the total traded volume of 9.94 Million shares. D.R. Horton Inc. (DHI) declared on Thursday that its fiscal Q2 net income of $229.2 million. The Fort Worth, Texas-based company said it had net income of 60 cents per share. The results topped Wall Street expectations. The average estimate of 19 analysts surveyed by Zacks Investment Research was for earnings of 59 cents per share.The homebuilder posted revenue of $3.25 billion in the period, also exceeding Street forecasts. Nineteen analysts surveyed by Zacks expected $3.09 billion.D.R. Horton expects full-year revenue in the range of $13.6 billion to $14 billion.
The firm’s shares performance for the last one month was -0.18% and -1.02% in the previous week, whereas year to date performance was calculated 21.52%. Why Investors Right to Know NYSE:DHI Performance? Find Facts Here