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

12 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Patterson-UTI Energy in the last twelve months. There are currently 6 hold ratings, 5 buy ratings and 1 strong buy rating for the stock. The consensus among Wall Street equities research analysts is that investors should "buy" PTEN shares.
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12 Wall Street analysts have issued 1 year target prices for Patterson-UTI Energy's shares. Their PTEN share price forecasts range from $13.50 to $26.00. On average, they expect the company's stock price to reach $21.05 in the next twelve months. This suggests a possible upside of 77.3% 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 29.5% and is now trading at $11.87.
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The company is scheduled to release its next quarterly earnings announcement on Wednesday, April 26th 2023.
View our PTEN earnings forecast.

Patterson-UTI Energy, Inc. (NASDAQ:PTEN) announced its quarterly earnings data on Wednesday, February, 8th. The oil and gas company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.03. The oil and gas company had revenue of $788.50 million for the quarter, compared to analysts' expectations of $758.68 million. Patterson-UTI Energy had a trailing twelve-month return on equity of 8.87% and a net margin of 5.84%. The company's revenue was up 69.0% compared to the same quarter last year. During the same period last year, the firm earned ($0.38) EPS.

Patterson-UTI Energy announced a quarterly dividend on Wednesday, February 8th. Investors of record on Thursday, March 2nd will be paid a dividend of $0.08 per share on Thursday, March 16th. This represents a $0.32 annualized dividend and a yield of 2.70%. The ex-dividend date is Wednesday, March 1st.
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), VanEck Oil Services ETF (OIH), SPDR S&P Oil & Gas Equipment & Services ETF (XES), Direxion Daily Oil Services Bull 2X Shares (ONG), Invesco Dynamic Oil & Gas Services ETF (PXJ), iShares U.S. Oil Equipment & Services ETF (IEZ), Invesco DWA Energy Momentum ETF (PXI) and Cambria Value and Momentum ETF (VAMO).

Patterson-UTI Energy (NASDAQ:PTEN) pays an annual dividend of $0.32 per share and currently has a dividend yield of 2.82%. The company does not yet have a strong track record of dividend growth. The dividend payout ratio is 45.07%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, PTEN will have a dividend payout ratio of 13.91% 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 variety of institutional and retail investors. Top institutional investors include Macquarie Group Ltd. (6.76%), Dimensional Fund Advisors LP (4.13%), Van ECK Associates Corp (3.05%), Allspring Global Investments Holdings LLC (2.98%), Anomaly Capital Management LP (2.61%) and Alliancebernstein L.P. (2.27%). Insiders that own company stock include Charles Andrew Smith, 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 $11.87.

Patterson-UTI Energy (NASDAQ:PTEN) has a market capitalization of $2.54 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 $0.71 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.