Patterson-UTI Energy (NASDAQ:PTEN) Given New $13.00 Price Target at Susquehanna

Key Points

• Susquehanna raised its price target on Patterson-UTI to $13.00 (from $10.00) and carries a "positive" rating, implying roughly a 19.5% upside from the current share price.
• Despite several upgrades, the sell‑side consensus remains a "Hold" with an average price target of $8.78 (five Buys, six Holds, two Sells), signaling mixed analyst views.
• Patterson‑UTI beat the latest quarter's EPS and revenue estimates (EPS of -$0.02 vs. -$0.11 expected; revenue $1.15B vs. $1.10B expected) but remains unprofitable with a negative net margin, and the stock trades around $10.88 (market cap ~$4.13B).

Patterson-UTI Energy (NASDAQ:PTEN - Get Free Report) had its price target raised by investment analysts at Susquehanna from $10.00 to $13.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a "positive" rating on the oil and gas company's stock. Susquehanna's price objective would suggest a potential upside of 19.54% from the company's current price.

Other research analysts have also issued reports about the stock. Piper Sandler lifted their price objective on shares of Patterson-UTI Energy from $7.00 to $9.00 and gave the company a "neutral" rating in a research note on Monday, February 9th. Royal Bank Of Canada boosted their price target on shares of Patterson-UTI Energy from $8.00 to $9.00 and gave the company an "outperform" rating in a research report on Friday, February 6th. Stifel Nicolaus boosted their price target on shares of Patterson-UTI Energy from $9.00 to $11.00 and gave the company a "buy" rating in a research report on Friday, February 6th. The Goldman Sachs Group boosted their price target on shares of Patterson-UTI Energy from $7.00 to $9.00 and gave the company a "buy" rating in a research report on Wednesday, March 4th. Finally, Citigroup boosted their price target on shares of Patterson-UTI Energy from $7.00 to $9.00 and gave the company a "neutral" rating in a research report on Monday, February 9th. Five research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $8.78.

Patterson-UTI Energy Stock Performance

Patterson-UTI Energy stock traded up $0.29 during mid-day trading on Tuesday, reaching $10.88. The company's stock had a trading volume of 804,533 shares, compared to its average volume of 11,016,623. Patterson-UTI Energy has a 12-month low of $5.10 and a 12-month high of $11.75. The company has a market capitalization of $4.13 billion, a P/E ratio of -43.54 and a beta of 0.57. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.46 and a current ratio of 1.64. The firm's fifty day moving average price is $9.21 and its two-hundred day moving average price is $7.20.

Patterson-UTI Energy (NASDAQ:PTEN - Get Free Report) last released its quarterly earnings data on Wednesday, February 4th. The oil and gas company reported ($0.02) earnings per share for the quarter, beating analysts' consensus estimates of ($0.11) by $0.09. Patterson-UTI Energy had a negative net margin of 1.94% and a negative return on equity of 1.50%. The business had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.10 billion. During the same period in the previous year, the business earned ($0.13) EPS. Patterson-UTI Energy's revenue was down 1.0% compared to the same quarter last year. Sell-side analysts predict that Patterson-UTI Energy will post -0.1 EPS for the current fiscal year.

Insider Activity

In other news, Director Robert Wayne Drummond, Jr. sold 164,775 shares of Patterson-UTI Energy stock in a transaction on Monday, March 16th. The shares were sold at an average price of $10.18, for a total transaction of $1,677,409.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 2.40% of the company's stock.

Institutional Trading of Patterson-UTI Energy

Hedge funds have recently made changes to their positions in the stock. Tejara Capital Ltd lifted its holdings in shares of Patterson-UTI Energy by 65.1% during the 3rd quarter. Tejara Capital Ltd now owns 554,993 shares of the oil and gas company's stock worth $2,875,000 after acquiring an additional 218,856 shares during the last quarter. Citigroup Inc. lifted its stake in Patterson-UTI Energy by 10.3% in the third quarter. Citigroup Inc. now owns 1,489,694 shares of the oil and gas company's stock worth $7,717,000 after purchasing an additional 139,561 shares during the last quarter. New York State Teachers Retirement System lifted its stake in Patterson-UTI Energy by 71.9% in the third quarter. New York State Teachers Retirement System now owns 551,671 shares of the oil and gas company's stock worth $2,858,000 after purchasing an additional 230,800 shares during the last quarter. Magnetar Financial LLC lifted its stake in Patterson-UTI Energy by 728.4% in the third quarter. Magnetar Financial LLC now owns 280,919 shares of the oil and gas company's stock worth $1,455,000 after purchasing an additional 247,010 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC bought a new stake in Patterson-UTI Energy in the third quarter worth $1,461,000. 97.91% of the stock is owned by institutional investors.

Patterson-UTI Energy Company Profile

Patterson-UTI Energy provides a comprehensive suite of onshore contract drilling and pressure pumping services to exploration and production companies in North America. The company's core offerings include land-based drilling rigs, directional drilling, hydraulic fracturing services, downhole tool rental and well-servicing equipment. By integrating drilling and completion capabilities, Patterson-UTI Energy offers operators a streamlined solution designed to improve operational efficiency and well performance.

Headquartered in Houston, Texas, Patterson-UTI Energy traces its origins to its founding in 1978 and was later incorporated in Delaware in 1996.

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