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Patterson-UTI Energy Stock Price, News & Analysis (NASDAQ:PTEN)

$11.24
-0.58 (-4.91%)
(As of 04:00 PM ET)
Compare
Today's Range
$11.23
▼
$11.94
50-Day Range
$11.52
▼
$15.13
52-Week Range
$9.70
▼
$17.86
Volume
5.49 million shs
Average Volume
4.57 million shs
Market Capitalization
$4.69 billion
P/E Ratio
8.52
Dividend Yield
2.85%
Price Target
$17.30
Stock AnalysisAnalyst ForecastsChartCompetitorsDividendEarningsFinancialsHeadlinesInsider TradesOptions ChainOwnershipSEC FilingsShort InterestSocial MediaSustainability

Patterson-UTI Energy MarketRank™ Stock Analysis

Analyst Rating
Moderate Buy
2.91 Rating Score
Upside/​Downside
52.7% Upside
$17.30 Price Target
Short Interest
Healthy
4.55% of Shares Sold Short
Dividend Strength
Moderate
Based on Four Factors
Sustainability
-6.95
Upright™ Environmental Score
News Sentiment
N/A
Insider Trading
Selling Shares
$2.09 M Sold Last Quarter
Proj. Earnings Growth
11.38%
From $1.23 to $1.37 Per Share

Overall MarketRank™

MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.

3.22 out of 5 stars

Oils/Energy Sector

6th out of 212 stocks

Drilling Oil & Gas Wells Industry

1st out of 12 stocks

See Top Rated MarketRank™ Stocks Here

PTEN stock logo

About Patterson-UTI Energy Stock (NASDAQ:PTEN)

Patterson-UTI Energy, Inc., through its subsidiaries, provides contract drilling services to oil and natural gas operators in the United States and internationally. It operates through three segments: Contract Drilling Services, Pressure Pumping Services, and Directional Drilling Services. The Contract Drilling Services segment markets its contract drilling services primarily in west Texas, Appalachia, Rockies, Oklahoma, South Texas, East Texas, and Colombia. The Pressure Pumping Services segment offers pressure pumping services that consist of well stimulation for the completion of new wells and remedial work on existing wells, as well as hydraulic fracturing, cementing, and acid pumping services in Texas and the Appalachian region. The Directional Drilling Services segment provides a suite of directional drilling services, including directional drilling and measurement-while-drilling services; supply and rental of downhole performance motors; and software and services that enhances the accuracy of directional and horizontal wellbores, wellbore quality, and on-bottom rate of penetration. It also services equipment to drilling contractors, as well as provides electrical controls and automation to the energy, marine, and mining industries in North America and other markets; and owns and invests in oil and natural gas assets as a non-operating working interest owner located principally in Texas and New Mexico. Patterson-UTI Energy, Inc. was founded in 1978 and is headquartered in Houston, Texas.

PTEN Stock Price History

PTEN Stock News Headlines

November 26, 2023 | finance.yahoo.com
Patterson-UTI Energy, Inc. (NASDAQ:PTEN) Passed Our Checks, And It's About To Pay A US$0.08 Dividend
November 16, 2023 | msn.com
Patterson-UTI (PTEN) Q3 Earnings Miss, Revenues Top
December 5, 2023 | DTI Trader (Ad)
All the trading advice you’ve ever received boils down to this
All the trading advice you’ve ever received boils down to one goal and one goal only: finding a reliable edge in the markets. If you can do that, grab hold of it and never let go. Because once you have that edge, and you can count on it, you never need to do anything else.
November 15, 2023 | finance.yahoo.com
Patterson-UTI Energy (NASDAQ:PTEN) shareholder returns have been strong, earning 212% in 3 years
November 9, 2023 | finance.yahoo.com
Patterson-UTI Energy, Inc. (NASDAQ:PTEN) Q3 2023 Earnings Call Transcript
November 8, 2023 | msn.com
Patterson-UTI Energy Non-GAAP EPS of $0.20 misses by $0.04, revenue of $1B beats by $14.31M
November 7, 2023 | finance.yahoo.com
Patterson-UTI Energy Reports Financial Results for the Quarter Ended September 30, 2023
November 6, 2023 | markets.businessinsider.com
Patterson-UTI Energy earnings preview: what Wall Street is expecting
December 5, 2023 | DTI Trader (Ad)
All the trading advice you’ve ever received boils down to this
All the trading advice you’ve ever received boils down to one goal and one goal only: finding a reliable edge in the markets. If you can do that, grab hold of it and never let go. Because once you have that edge, and you can count on it, you never need to do anything else.
November 6, 2023 | finance.yahoo.com
Patterson-UTI Reports Drilling Activity for October 2023
November 6, 2023 | finance.yahoo.com
Zacks.com featured highlights Textron, Patterson-UTI Energy, ALLETE, Teekay Tankers and Acadia Healthcare
October 18, 2023 | finance.yahoo.com
Patterson-UTI (PTEN) to Report Q3 Results: Wall Street Expects Earnings Growth
October 18, 2023 | msn.com
Morgan Stanley Downgrades Patterson-UTI Energy (PTEN)
October 17, 2023 | msn.com
Nabors upgraded, Patterson-UTI and ProFrac downgraded at Morgan Stanley
October 17, 2023 | finance.yahoo.com
Should You Add Patterson-UTI Energy (PTEN) to Your Portfolio?
October 16, 2023 | seekingalpha.com
Patterson-UTI Energy raised to Buy, Cactus cut to Sell equivalent at BofA
October 13, 2023 | markets.businessinsider.com
Patterson-UTI (PTEN) Receives a Rating Update from a Top Analyst
October 10, 2023 | msn.com
Citigroup Upgrades Patterson-UTI Energy (PTEN)
October 9, 2023 | nz.news.yahoo.com
Why Patterson-UTI (PTEN) is a Top Value Stock for the Long-Term
October 9, 2023 | barrons.com
S&P 500 Futures Drop in Premarket Trading; Patterson-UTI Energy, Fortive Lead
October 5, 2023 | finance.yahoo.com
Here's Why Patterson-UTI (PTEN) is a Strong Growth Stock
October 4, 2023 | finance.yahoo.com
Patterson-UTI Reports Drilling Activity for September 2023
September 28, 2023 | finance.yahoo.com
With 53% ownership, Patterson-UTI Energy, Inc. (NASDAQ:PTEN) boasts of strong institutional backing
September 22, 2023 | finance.yahoo.com
EVP & CFO Charles Smith Sells 10,000 Shares of Patterson-UTI Energy Inc
September 16, 2023 | finance.yahoo.com
Insider Sell: James Holcomb Sells 11,816 Shares of Patterson-UTI Energy Inc
September 8, 2023 | finance.yahoo.com
Is Patterson-UTI Energy (PTEN) Too Good to Be True? A Comprehensive Analysis of a Potential ...
September 8, 2023 | finance.yahoo.com
Growth Investors: Industry Analysts Just Upgraded Their Patterson-UTI Energy, Inc. (NASDAQ:PTEN) Revenue Forecasts By 36%
See More Headlines
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Company Calendar

Ex-Dividend for 9/21 Dividend
9/06/2023
Dividend Payable
9/21/2023
Last Earnings
11/07/2023
Ex-Dividend for 12/15 Dividend
11/30/2023
Today
12/05/2023
Dividend Payable
12/15/2023
Fiscal Year End
12/31/2023
Next Earnings (Estimated)
2/14/2024
Get Stock Alerts

Industry, Sector and Symbol

Stock Exchange
NASDAQ
Industry
Drilling oil & gas wells
Sub-Industry
Oil & Gas Drilling
Sector
Oils/Energy
Current Symbol
NASDAQ:PTEN
CUSIP
70348110
CIK
889900
Web
www.patenergy.com
Phone
(281) 765-7100
Fax
281-765-7175
Employees
6,500
Year Founded
1978

Price Target and Rating

Average Stock Price Target
$17.30
High Stock Price Target
$21.00
Low Stock Price Target
$14.00
Potential Upside/Downside
+46.4%
Consensus Rating
Moderate Buy
Rating Score (0-4)
2.91
Research Coverage
11 Analysts

Profitability

EPS (Most Recent Fiscal Year)
$1.32
Trailing P/E Ratio
8.95
Forward P/E Ratio
9.61
P/E Growth
0.18
Net Income
$154.66 million
Net Margins
8.49%
Pretax Margin
9.62%
Return on Equity
14.08%
Return on Assets
8.33%

Debt

Debt-to-Equity Ratio
0.26
Current Ratio
1.37
Quick Ratio
1.19

Sales & Book Value

Annual Sales
$2.65 billion
Price / Sales
1.86
Cash Flow
$2.91 per share
Price / Cash Flow
4.06
Book Value
$7.68 per share
Price / Book
1.54

Miscellaneous

Outstanding Shares
417,280,000
Free Float
407,268,000
Market Cap
$4.93 billion
Optionable
Optionable
Beta
2.30

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PTEN Stock Analysis - Frequently Asked Questions

Should I buy or sell Patterson-UTI Energy stock right now?

11 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, 8 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.

What is Patterson-UTI Energy's stock price target for 2024?

11 equities research analysts have issued twelve-month target prices for Patterson-UTI Energy's shares. Their PTEN share price targets range from $14.00 to $21.00. On average, they expect the company's stock price to reach $17.30 in the next twelve months. This suggests a possible upside of 52.7% from the stock's current price.
View analysts price targets for PTEN or view top-rated stocks among Wall Street analysts.

How have PTEN shares performed in 2023?

Patterson-UTI Energy's stock was trading at $16.84 on January 1st, 2023. Since then, PTEN shares have decreased by 32.7% and is now trading at $11.33.
View the best growth stocks for 2023 here.

When is Patterson-UTI Energy's next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Wednesday, February 14th 2024.
View our PTEN earnings forecast.

How were Patterson-UTI Energy's earnings last quarter?

Patterson-UTI Energy, Inc. (NASDAQ:PTEN) issued its earnings results on Tuesday, November, 7th. The oil and gas company reported $0.20 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.24 by $0.04. The oil and gas company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $978.20 million. Patterson-UTI Energy had a trailing twelve-month return on equity of 14.08% and a net margin of 8.49%. During the same period last year, the firm posted $0.28 EPS.

How often does Patterson-UTI Energy pay dividends? What is the dividend yield for Patterson-UTI Energy?

Patterson-UTI Energy declared a quarterly dividend on Tuesday, November 7th. Stockholders of record on Friday, December 1st will be paid a dividend of $0.08 per share on Friday, December 15th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.82%. The ex-dividend date is Thursday, November 30th.
Read our dividend analysis for PTEN.

Is Patterson-UTI Energy a good dividend stock?

Patterson-UTI Energy (NASDAQ:PTEN) pays an annual dividend of $0.32 per share and currently has a dividend yield of 2.72%. The company does not yet have a strong track record of dividend growth. The dividend payout ratio is 24.24%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, PTEN will have a dividend payout ratio of 23.36% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for PTEN.

What ETFs hold Patterson-UTI Energy's stock?

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).

What is Andy Hendricks' approval rating as Patterson-UTI Energy's CEO?

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.

What other stocks do shareholders of Patterson-UTI Energy own?

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).

Who are Patterson-UTI Energy's major shareholders?

Patterson-UTI Energy's stock is owned by a number of institutional and retail investors. Top institutional shareholders include Blackstone Inc. (16.78%), Cerberus Capital Management L.P. (6.55%), FMR LLC (5.60%), Van ECK Associates Corp (3.84%), Allspring Global Investments Holdings LLC (3.26%) and Principal Financial Group Inc. (2.83%). 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.
View institutional ownership trends.

How do I buy shares of Patterson-UTI Energy?

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.
Compare Top Brokerages Here.

Does Patterson-UTI Energy have any subsidiaries?
The following companies are subsidiares of Patterson-UTI Energy: Ambar Inc, Ambar Lone Star Fluid Services LLC, Current Power Solutions Inc., Drilling Technologies 1 LLC, Drilling Technologies 2 LLC, Great Plains Oilfield Rental L.L.C., High Valley Drilling, Jones Drilling, Keystone Rock & Excavation L.L.C., MS Directional LLC, Norton Drilling Services, PTL Prop Solutions L.L.C., Patterson Petroleum LLC, Patterson UTI International Saudi Arabia Limited, Patterson-UTI Drilling Canada Limited, Patterson-UTI Drilling Company LLC, Patterson-UTI Drilling International Inc., Patterson-UTI Holding Company LLC, Patterson-UTI International (Argentina) S.R.L., Patterson-UTI International (India) B.V., Patterson-UTI International (Kuwait) Limited, Patterson-UTI International (Netherlands) B.V., Patterson-UTI International Holdings (BVI) Limited, Patterson-UTI International Holdings (Netherlands) One B.V., Patterson-UTI International Holdings (Netherlands) Two B.V., Patterson-UTI International Holdings Inc., Patterson-UTI Management Services LLC, Seventy Seven Energy Inc., Seventy Seven Energy LLC, Seventy Seven Land Company LLC, Seventy Seven Operating LLC, Superior QC, Superior QC LLC, TMBR/ Sharp Drilling, Tejas Drilling Fluids, Universal Pressure Pumping Inc., Universal Wireline LLC, Warrior Rig Technologies, Warrior Rig Technologies Limited, Warrior Rig Technologies US LLC, Wek Drilling, and Western Wisconsin Sand Company LLC.
Read More
This page (NASDAQ:PTEN) was last updated on 12/5/2023 by MarketBeat.com Staff

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