Stock Price
P/E Ratio
Volume Traded Today
Dividend
52 Week High/low
Patterson-UTI Energy Inc Market Cap
From what 28 stock analysts predict, the share price for Patterson-UTI Energy Inc (PTEN) might increase by 71.43% in the next year. This is based on a 12-month average estimation for PTEN. Price targets go from $11 to $18. The majority of stock analysts believe PTEN is a buy. Please note analyst price targets are not guaranteed and could be missed completely.
About 28 Wall Street analysts have assignedPTEN 19 buy ratings, 8 hold ratings, and 1 sell ratings. This means that analysts expect Patterson-UTI Energy Inc to buy. Keep in mind that these ratings are typically refreshed every quarter, underscoring the importance of conducting your own research on PTEN. Don't forget to include both technical and fundamental analysis, as well as staying informed on news that could influence these ratings, in your due diligence.
These are the latest 20 analyst ratings of PTEN.
|
Analyst/Firm |
Rating |
Price Target |
Change |
Date |
|---|---|---|---|---|
| Derek Podhaizer Barclays | Overweight | $14 | Maintains | Aug 16, 2024 |
| Keith Mackey RBC Capital | Outperform | $14 | Maintains | Jul 26, 2024 |
| Stephen Gengaro Stifel | Buy | $16 | Maintains | Jul 16, 2024 |
| Chase Mulvehill B of A Securities | Buy | $12.5 | Maintains | Jul 15, 2024 |
| Luke Lemoine Piper Sandler | Overweight | $12 | Maintains | Jul 15, 2024 |
| Charles Minervino Susquehanna | Positive | $13 | Maintains | Jul 11, 2024 |
| Luke Lemoine Piper Sandler | Overweight | $14 | Maintains | May 6, 2024 |
| Kurt Hallead Benchmark | Hold | Reiterates | May 6, 2024 | |
| Jason Bandel Evercore ISI Group | Outperform | $17 | Maintains | May 3, 2024 |
| Chase Mulvehill B of A Securities | Buy | $14 | Maintains | Apr 15, 2024 |
| Charles Minervino Susquehanna | Positive | $16 | Maintains | Apr 8, 2024 |
| Charles Minervino Susquehanna | Positive | $16 | Maintains | Apr 1, 2024 |
| Jason Bandel Evercore ISI Group | Outperform | $18 | Maintains | Feb 20, 2024 |
| James Rollyson Raymond James | Strong Buy | $15 | Maintains | Feb 16, 2024 |
| Keith Mackey RBC Capital | Outperform | $16 | Maintains | Feb 16, 2024 |
| Kurt Hallead Benchmark | Hold | Downgrade | Jan 16, 2024 | |
| Ati Modak Goldman Sachs | Neutral | $12 | Initiates | Dec 19, 2023 |
| Derek Podhaizer Barclays | Overweight | $16 | Maintains | Nov 14, 2023 |
| Luke Lemoine Piper Sandler | Overweight | $19 | Maintains | Nov 13, 2023 |
| Keith Mackey RBC Capital | Outperform | $17 | Maintains | Nov 9, 2023 |
When did it IPO
1993
Staff Count
10,600
Country
United States
Sector/Industry
Energy/Oil & Gas Drilling
CEO
Mr. William Andrew Hendricks Jr.
Market Cap
$3.62B
In 2023, PTEN generated $4.15B in revenue, which was a increase of 56.61% from the previous year. This can be seen as a signal that PTEN's business is growing, and its share price could be worth more in the future. However, if the company grows faster (or slower) than expected, this could also have a major impact on the future share price.
Revenue From 2020
Revenue From 2021
Revenue From 2022
Revenue From 2023
Mon, 09 Sep 2024
Sentiment - NEUTRAL
Source - Accesswire
Summary - Patterson-UTI Energy, Inc. (NASDAQ: PTEN) reported an average of 107 drilling rigs operating in the U.S. for August 2024.
Why It Matters - Increased drilling rig activity indicates higher demand for oil and gas, potentially boosting Patterson-UTI's revenue and profitability, which are key factors for stock performance.
Fri, 23 Aug 2024
Sentiment - NEGATIVE
Source - Zacks Investment Research
Summary - Patterson-UTI (PTEN) reported earnings 30 days ago; investors should monitor upcoming developments for insights on stock performance.
Why It Matters - Earnings reports can influence stock prices; upcoming developments may affect investor sentiment and trading strategies for Patterson-UTI.
Sun, 11 Aug 2024
Sentiment - POSITIVE
Source - Seeking Alpha
Summary - Patterson-UTI is cash flow positive amid low U.S. oilfield activity. A potential rebound in natural gas drilling by 2025 and a buyback program may support the stock price.
Why It Matters - Patterson-UTI's cash flow positivity amid low oilfield activity indicates resilience. Upcoming natural gas drilling recovery and a buyback program may enhance stock value and attract investor interest.
Fri, 09 Aug 2024
Sentiment - POSITIVE
Source - Seeking Alpha
Summary - Commodity cycles need downturns to maintain balance; Patterson-UTI's valuation mirrors past recession lows. An oil/gas price upturn could benefit PTEN investors, with positive momentum indicators noted.
Why It Matters - Patterson-UTI's low valuation and potential oil/gas price spikes suggest significant upside for investors. Reversing momentum indicators indicate a possible price increase ahead.
Mon, 05 Aug 2024
Sentiment - NEUTRAL
Source - Accesswire
Summary - Patterson-UTI Energy, Inc. (NASDAQ:PTEN) reported an average of 108 drilling rigs operating in the U.S. for July 2024.
Why It Matters - Patterson-UTI's 108 active drilling rigs indicate operational strength and potential revenue growth, influencing investor confidence and stock performance in the energy sector.
Tue, 30 Jul 2024
Sentiment - NEGATIVE
Source - Zacks Investment Research
Summary - Patterson-UTI (PTEN) expects to produce 40% of its free cash flow from adjusted EBITDA by 2024.
Why It Matters - Patterson-UTI's forecast of generating 40% of free cash flow from adjusted EBITDA by 2024 indicates strong profitability, potentially boosting investor confidence and stock performance.
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