Exxon Mobil (NYSE:XOM)- Active Concerns Wondering Movers: Patterson-UTI Energy (NASDAQ:PTEN)

Exxon Mobil Corporation (NYSE:XOM) [Trend Analysis] attempts to attain leading position in street, Shares price changes as it 2.22% to close at $90.98 with the total traded volume of 15.54 Million shares. U.S. President-elect Donald Trump is expected to nominate Exxon Mobil Corp. (XOM) Chairman and CEO Rex Tillerson as secretary of state in the new administration, according to media reports on Saturday.While Trump is said to have not yet formally offered Tillerson the job, he is likely to do so next week.

The nomination could be controversial due to Tillerson’s close ties to Russian President Vladimir Putin. Tillerson, aged 64, has spent his entire career at Exxon Mobil, the world’s fifth largest company by market capitalization. He will touch Exxon’s mandatory retirement age of 65 in March. The firm has institutional ownership of 51.30%, while insider ownership included 0.30%. Its price to sales ratio ended at 1.74. XOM attains analyst recommendation of 3.00 with week performance of 4.00%.

Patterson-UTI Energy, Inc. (NASDAQ:PTEN) [Trend Analysis] moved up reacts as active mover, shares a gain 1.77% to traded at $28.67 and the percentage gap between open changing to regular change was 2.52%. Patterson-UTI Energy Inc. (PTEN) along with Seventy Seven Energy Inc. (SVNT.PK) reported that they have entered into a definitive merger contract pursuant to which Patterson-UTI will acquire Seventy Seven Energy in an all-stock transaction.

As per the terms of the transaction, Patterson-UTI will acquire all of the issued and outstanding shares of common stock of Seventy Seven Energy, in exchange for approximately 49.6 million shares of common stock of Patterson-UTI. The aggregate number of shares of Patterson-UTI common stock is subject to downward adjustment if certain in-the-money Seventy Seven Energy warrants are forfeited or exercised on a net-share basis.

The transaction values Seventy Seven Energy at about $1.76 billion, assuming the issuance of 49.6 million shares of Patterson-UTI common stock at ‘s closing price of $28.67, plus approximately $336 million of Seventy Seven Energy’s debt net of cash and warrant proceeds. The firm’s current ratio calculated as 1.20 for the most recent quarter. The firm past twelve months price to sales ratio was 4.31 and price to cash ratio remained 117.43. As far as the returns are concern, the return on equity was recorded as -12.70% and return on investment was -7.60% while its return on asset stayed at -7.30%. The firm has total debt to equity ratio measured as 0.26.

 

About Gerard Bergeron

Gerard Bergeron covers Bio-pharmacy or healthcare sector Press Releases news updates. He has extensive three year of experience in content writing as freelance writer. He performs analysis of Healthcare Companies and provides worthy information for investor community. He is an experienced writer with a precise grasp of the English language and a clear, compelling writing style.

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