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S&P 500   5,130.95
DOW   38,989.83
QQQ   444.02
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How major US stock indexes fared Monday, 3/4/2024
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Ohio foundation begins process to distribute millions in opioid settlement money
Closing prices for crude oil, gold and other commodities
S&P 500   5,130.95
DOW   38,989.83
QQQ   444.02
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How major US stock indexes fared Monday, 3/4/2024
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DeSantis names Disney World district administrator to run elections in Democratic Orange County
Stock market today: Asian shares are mixed as China unveils 5% economic growth target for 2024
This is the #1 Stock to Buy for the AI Tidal Wave (Ad)
Ohio foundation begins process to distribute millions in opioid settlement money
Closing prices for crude oil, gold and other commodities
S&P 500   5,130.95
DOW   38,989.83
QQQ   444.02
5 Under-the-Radar Artificial Intelligence (AI) Stocks
This is the #1 Stock to Buy for the AI Tidal Wave (Ad)
How major US stock indexes fared Monday, 3/4/2024
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DeSantis names Disney World district administrator to run elections in Democratic Orange County
Stock market today: Asian shares are mixed as China unveils 5% economic growth target for 2024
This is the #1 Stock to Buy for the AI Tidal Wave (Ad)
Ohio foundation begins process to distribute millions in opioid settlement money
Closing prices for crude oil, gold and other commodities
NASDAQ:PTEN

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

$11.63
-0.11 (-0.94%)
(As of 03/4/2024 ET)
Today's Range
$11.58
$11.85
50-Day Range
$9.89
$12.06
52-Week Range
$9.70
$16.17
Volume
8.04 million shs
Average Volume
6.92 million shs
Market Capitalization
$4.75 billion
P/E Ratio
11.51
Dividend Yield
2.75%
Price Target
$16.33

Patterson-UTI Energy MarketRank™ Stock Analysis

Analyst Rating
Moderate Buy
2.77 Rating Score
Upside/​Downside
40.4% Upside
$16.33 Price Target
Short Interest
Healthy
5.76% of Shares Sold Short
Dividend Strength
Moderate
Based on Four Factors
Sustainability
-6.95
Upright™ Environmental Score
News Sentiment
1.30mentions of Patterson-UTI Energy in the last 14 days
Based on 10 Articles This Week
Insider Trading
Selling Shares
$2.20 M Sold Last Quarter
Proj. Earnings Growth
50.68%
From $0.73 to $1.10 Per Share

Overall MarketRank

New Rank-Based ScoringMarketRank is calculated by averaging available category scores (with extra weight given to analysis and valuation), then ranking the company's weighted average against that of other companies.

4.97 out of 5 stars

Oils/Energy Sector

6th out of 239 stocks

Drilling Oil & Gas Wells Industry

1st out of 13 stocks


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

PTEN Apr 2024 8.000 put
This is the #1 Stock to Buy for the AI Tidal Wave
Marc Chaikin warned people about NVDA before its 2023 bull run - now he’s naming his next pick or the AI tidal wave. Learn more here.
PTEN Aug 2024 12.000 put
Critical asset just had biggest fall on record
What many consider America's critical financial asset suffers biggest fall on record. Expert says: "it's very bad for millions, protect yourself now."
Patterson-UTI Energy earnings: here's what to expect
Patterson-UTI Energy's Earnings Outlook
Patterson-UTI Reports Drilling Activity for January 2024
Patterson-UTI Energy, Inc. (PTEN)
PTEN Patterson-UTI Energy, Inc.
See More Headlines
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Company Calendar

Last Earnings
11/07/2023
Ex-Dividend for 12/15 Dividend
11/30/2023
Dividend Payable
12/15/2023
Ex-Dividend for 3/15 Dividend
2/29/2024
Today
3/04/2024
Dividend Payable
3/15/2024
Next Earnings (Estimated)
4/24/2024
Fiscal Year End
12/31/2024

Industry, Sector and Symbol

Industry
Drilling oil & gas wells
Sub-Industry
Oil & Gas Drilling
Current Symbol
NASDAQ:PTEN
CUSIP
70348110
Employees
10,600
Year Founded
1978

Price Target and Rating

Average Stock Price Target
$16.33
High Stock Price Target
$19.00
Low Stock Price Target
$12.00
Potential Upside/Downside
+40.4%
Consensus Rating
Moderate Buy
Rating Score (0-4)
2.77
Research Coverage
13 Analysts

Profitability

Net Income
$246.29 million
Pretax Margin
7.41%

Debt

Sales & Book Value

Annual Sales
$4.15 billion
Cash Flow
$2.51 per share
Book Value
$11.55 per share

Miscellaneous

Free Float
398,395,000
Market Cap
$4.75 billion
Optionable
Optionable
Beta
2.22

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PTEN Stock Analysis - Frequently Asked Questions

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

13 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Patterson-UTI Energy in the last twelve months. There are currently 4 hold ratings, 8 buy ratings and 1 strong buy rating for the stock. The consensus among Wall Street 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?

13 brokerages have issued 12 month price objectives for Patterson-UTI Energy's stock. Their PTEN share price targets range from $12.00 to $19.00. On average, they predict the company's share price to reach $16.33 in the next year. This suggests a possible upside of 40.4% 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 2024?

Patterson-UTI Energy's stock was trading at $10.80 at the start of the year. Since then, PTEN shares have increased by 7.7% and is now trading at $11.63.
View the best growth stocks for 2024 here
.

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

The company is scheduled to release its next quarterly earnings announcement on Wednesday, April 24th 2024.
View our PTEN earnings forecast
.

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

Patterson-UTI Energy, Inc. (NASDAQ:PTEN) announced its earnings results on Tuesday, November, 7th. The oil and gas company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by $0.04. The oil and gas company had revenue of $1.01 billion for the quarter, compared to analysts' expectations of $978.20 million. Patterson-UTI Energy had a trailing twelve-month return on equity of 10.00% and a net margin of 5.94%. During the same quarter last year, the company earned $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 Wednesday, February 14th. Investors of record on Friday, March 1st will be paid a dividend of $0.08 per share on Friday, March 15th. This represents a $0.32 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date is Thursday, February 29th.
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 2.73%. The dividend payout ratio is 31.68%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, PTEN will have a dividend payout ratio of 29.09% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for PTEN.

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 retail and institutional investors. Top institutional shareholders include Vanguard Group Inc. (10.79%), Blackstone Inc. (6.88%), Dimensional Fund Advisors LP (3.38%), Van ECK Associates Corp (2.04%), Allspring Global Investments Holdings LLC (1.58%) and Point72 Asset Management L.P. (1.29%). Insiders that own company stock include Charles Andrew Smith, James Carl Stewart, James Michael Holcomb, Kenneth N Berns, Robert Wayne Drummond Jr, Seth David Wexler, Tiffany Thom Cepak 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 Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
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.
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This page (NASDAQ:PTEN) was last updated on 3/5/2024 by MarketBeat.com Staff