Patterson-UTI Energy (PTEN) Stock Forecast, Price & News

10 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Patterson-UTI Energy in the last twelve months. There are currently 2 hold ratings, 7 buy ratings and 1 strong buy rating for the stock. The consensus among Wall Street equities research analysts is that investors should "moderate buy" PTEN shares.
View PTEN analyst ratings or view top-rated stocks.

10 brokers have issued 1 year target prices for Patterson-UTI Energy's stock. Their PTEN share price forecasts range from $14.00 to $20.00. On average, they expect the company's share price to reach $17.50 in the next twelve months. This suggests a possible upside of 21.1% from the stock's current price.
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Patterson-UTI Energy's stock was trading at $16.84 at the beginning of 2023. Since then, PTEN shares have decreased by 14.2% and is now trading at $14.45.
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The company is scheduled to release its next quarterly earnings announcement on Wednesday, October 25th 2023.
View our PTEN earnings forecast.

Patterson-UTI Energy, Inc. (NASDAQ:PTEN) released its quarterly earnings results on Wednesday, July, 26th. The oil and gas company reported $0.40 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.44 by $0.04. The oil and gas company earned $758.89 million during the quarter, compared to the consensus estimate of $781.73 million. Patterson-UTI Energy had a net margin of 11.28% and a trailing twelve-month return on equity of 21.22%. The company's revenue was up 22.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.05 EPS.

Patterson-UTI Energy declared a quarterly dividend on Wednesday, July 26th. Investors of record on Thursday, September 7th will be paid a dividend of $0.08 per share on Thursday, September 21st. This represents a $0.32 annualized dividend and a dividend yield of 2.21%. The ex-dividend date of this dividend is Wednesday, September 6th.
Read our dividend analysis for PTEN.

ETFs with the largest weight of Patterson-UTI Energy (NASDAQ:PTEN) stock in their portfolio include Invesco S&P SmallCap Energy ETF (PSCE), SPDR S&P Oil & Gas Equipment & Services ETF (XES), Invesco Oil & Gas Services ETF (PXJ), VanEck Oil Services ETF (OIH), iShares U.S. Oil Equipment & Services ETF (IEZ), Direxion Daily Oil Services Bull 2X Shares (ONG), Harbor Corporate Culture Small Cap ETF (HAPS) and Pacer US Small Cap Cash Cows 100 ETF (CALF).

Patterson-UTI Energy (NASDAQ:PTEN) pays an annual dividend of $0.32 per share and currently has a dividend yield of 2.14%. The company does not yet have a strong track record of dividend growth. The dividend payout ratio is 20.00%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, PTEN will have a dividend payout ratio of 25.60% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for PTEN.

73 employees have rated Patterson-UTI Energy Chief Executive Officer Andy Hendricks on Glassdoor.com. Andy Hendricks has an approval rating of 79% among the company's employees.

Based on aggregate information from My MarketBeat watchlists, some companies that other Patterson-UTI Energy investors own include Energy Transfer (ET), Oasis Petroleum (OAS), Delta Air Lines (DAL), Nabors Industries (NBR), Halliburton (HAL), Ford Motor (F), Marathon Oil (MRO), Starbucks (SBUX), AT&T (T) and Callon Petroleum (CPE).

Patterson-UTI Energy trades on the NASDAQ under the ticker symbol "PTEN."

Patterson-UTI Energy's stock is owned by a number of retail and institutional investors. Top institutional investors include BlackRock Inc. (17.88%), Dimensional Fund Advisors LP (5.06%), State Street Corp (4.15%), Allspring Global Investments Holdings LLC (3.25%), Van ECK Associates Corp (2.39%) and Geode Capital Management LLC (2.05%). Insiders that own company stock include Charles Andrew Smith, James Carl Stewart, James Michael Holcomb, Kenneth N Berns, Seth David Wexler and William Andrew Hendricks Jr.
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Shares of PTEN stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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One share of PTEN stock can currently be purchased for approximately $14.45.

Patterson-UTI Energy (NASDAQ:PTEN) has a market capitalization of $3.01 billion and generates $2.65 billion in revenue each year. The oil and gas company earns $154.66 million in net income (profit) each year or $1.60 on an earnings per share basis.

The company employs 6,500 workers across the globe.

Patterson-UTI Energy's mailing address is 10713 WEST SAM HOUSTON PARKWAY NORTH SUITE 800, HOUSTON TX, 77064. The official website for the company is www.patenergy.com. The oil and gas company can be reached via phone at (281) 765-7100, via email at investor.relations@patenergy.com, or via fax at 281-765-7175.