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S&P 500   4,288.05
DOW   33,507.50
QQQ   358.27
Powerball jackpot rises to $1.04 billion after another drawing without a big winner
Better Than Oil Stocks (Ad)
Promoting tradition as well as beans, Ethiopian coffee shops find fans far from home
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Native Hawaiian neighborhood survived Maui fire. Lahaina locals praise its cultural significance
A fight over precious groundwater in a rural California town is rooted in carrots
S&P 500   4,288.05
DOW   33,507.50
QQQ   358.27
Powerball jackpot rises to $1.04 billion after another drawing without a big winner
Better Than Oil Stocks (Ad)
Promoting tradition as well as beans, Ethiopian coffee shops find fans far from home
Who is Arthur Engoron? Judge weighing future of Donald Trump empire is Ivy League-educated ex-cabbie
Better Than Oil Stocks (Ad)
Federal agency sues Chipotle after a Kansas manager allegedly ripped off an employee's hijab
Apple says it will fix software problems blamed for making iPhone 15 models too hot to handle
Better Than Oil Stocks (Ad)
Native Hawaiian neighborhood survived Maui fire. Lahaina locals praise its cultural significance
A fight over precious groundwater in a rural California town is rooted in carrots
S&P 500   4,288.05
DOW   33,507.50
QQQ   358.27
Powerball jackpot rises to $1.04 billion after another drawing without a big winner
Better Than Oil Stocks (Ad)
Promoting tradition as well as beans, Ethiopian coffee shops find fans far from home
Who is Arthur Engoron? Judge weighing future of Donald Trump empire is Ivy League-educated ex-cabbie
Better Than Oil Stocks (Ad)
Federal agency sues Chipotle after a Kansas manager allegedly ripped off an employee's hijab
Apple says it will fix software problems blamed for making iPhone 15 models too hot to handle
Better Than Oil Stocks (Ad)
Native Hawaiian neighborhood survived Maui fire. Lahaina locals praise its cultural significance
A fight over precious groundwater in a rural California town is rooted in carrots
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NASDAQ:PTEN

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

$13.84
-0.72 (-4.95%)
(As of 09/29/2023 ET)
Compare
Today's Range
$13.71
▼
$14.59
50-Day Range
$13.84
▼
$15.84
52-Week Range
$9.70
▼
$19.81
Volume
7.24 million shs
Average Volume
7.14 million shs
Market Capitalization
$2.88 billion
P/E Ratio
8.65
Dividend Yield
2.31%
Price Target
$17.50
ProfileAnalyst RatingsChartCompetitorsDividendEarningsFinancialsInsider TradesInstitutional OwnershipHeadlinesOptions ChainSEC FilingsShort InterestSocial MediaSustainability

Patterson-UTI Energy MarketRank™ Forecast

Analyst Rating
Moderate Buy
2.90 Rating Score
Upside/​Downside
26.4% Upside
$17.50 Price Target
Short Interest
Bearish
9.21% of Shares Sold Short
Dividend Strength
Moderate
Based on Four Factors
Sustainability
-6.95
Upright™ Environmental Score
News Sentiment
0.61mentions of Patterson-UTI Energy in the last 14 days
Based on 12 Articles This Week
Insider Trading
Selling Shares
$6.76 M Sold Last Quarter
Proj. Earnings Growth
-17.33%
From $1.50 to $1.24 Per Share

Overall MarketRank™

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

2.75 out of 5 stars

Oils/Energy Sector

41st out of 248 stocks

Drilling Oil & Gas Wells Industry

2nd out of 12 stocks

See Top Rated MarketRank™ Stocks Here

PTEN stock logo

About Patterson-UTI Energy (NASDAQ:PTEN) Stock

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 Price History

PTEN Stock News Headlines

October 1, 2023 | americanbankingnews.com
Patterson-UTI Energy, Inc. (NASDAQ:PTEN) CFO Charles Andrew Smith Sells 10,000 Shares
October 1, 2023 | americanbankingnews.com
Patterson-UTI Energy (NASDAQ:PTEN) Trading Down 2.3% After Insider Selling
October 1, 2023 | Altimetry (Ad)
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September 29, 2023 | americanbankingnews.com
Patterson-UTI Energy, Inc. (NASDAQ:PTEN) Given Consensus Rating of "Moderate Buy" by Brokerages
September 28, 2023 | finance.yahoo.com
With 53% ownership, Patterson-UTI Energy, Inc. (NASDAQ:PTEN) boasts of strong institutional backing
September 25, 2023 | americanbankingnews.com
FY2025 EPS Estimates for Patterson-UTI Energy, Inc. (NASDAQ:PTEN) Raised by Analyst
September 23, 2023 | americanbankingnews.com
Zacks Research Research Analysts Cut Earnings Estimates for Patterson-UTI Energy, Inc. (NASDAQ:PTEN)
September 22, 2023 | finance.yahoo.com
EVP & CFO Charles Smith Sells 10,000 Shares of Patterson-UTI Energy Inc
October 1, 2023 | Legacy Research (Ad)
Man Gets Into a Self-Driving Tesla… What Happens Next will Shock Everyone (Video)
“Hi, I’m Teeka Tiwari...I’m about to get in this Tesla and drive up to a facility just a few miles from here to show you what could be the secret behind Elon Musk’s new AI project… What happens next will shock you…”
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%
September 7, 2023 | msn.com
Susquehanna Reiterates Patterson-UTI Energy (PTEN) Positive Recommendation
September 7, 2023 | finance.yahoo.com
Patterson-UTI Reports Drilling Activity for August 2023
September 6, 2023 | markets.businessinsider.com
Susquehanna Sticks to Its Buy Rating for Patterson-UTI (PTEN)
September 6, 2023 | markets.businessinsider.com
Patterson-UTI (PTEN) Receives a Buy from RBC Capital
September 5, 2023 | nasdaq.com
Patterson-UTI Energy, Inc. Rings the Closing Bell
September 5, 2023 | msn.com
Patterson-UTI rated Buy in new coverage at Stifel
September 5, 2023 | markets.businessinsider.com
Patterson-UTI (PTEN) Has a New Rating from Stifel Nicolaus
September 3, 2023 | finance.yahoo.com
Is It Smart To Buy Patterson-UTI Energy, Inc. (NASDAQ:PTEN) Before It Goes Ex-Dividend?
August 29, 2023 | finance.yahoo.com
Is Patterson-UTI Energy, Inc.'s (NASDAQ:PTEN) Stock's Recent Performance Being Led By Its Attractive Financial Prospects?
August 25, 2023 | finance.yahoo.com
Why Is Patterson-UTI (PTEN) Down 9.5% Since Last Earnings Report?
August 22, 2023 | finance.yahoo.com
Patterson-UTI (PTEN) Closes Ulterra Drilling Acquisition Deal
August 22, 2023 | markets.businessinsider.com
Patterson-UTI (PTEN) Gets a Buy from RBC Capital
August 3, 2023 | msn.com
Patterson-UTI (PTEN) Q2 Earnings In Line, Revenues Rise Y/Y
August 3, 2023 | finance.yahoo.com
Patterson-UTI Reports Drilling Activity for July 2023
August 2, 2023 | msn.com
Patterson-UTI Energy (PTEN) Price Target Increased by 10.64% to 18.18
See More Headlines
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PTEN Company Calendar

Last Earnings
7/26/2023
Ex-Dividend for 9/21 Dividend
9/06/2023
Dividend Payable
9/21/2023
Today
10/01/2023
Next Earnings (Estimated)
10/25/2023
Fiscal Year End
12/31/2023
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 Forecast
$17.50
High Stock Price Forecast
$20.00
Low Stock Price Forecast
$14.00
Forecasted Upside/Downside
+26.4%
Consensus Rating
Moderate Buy
Rating Score (0-4)
2.90
Research Coverage
10 Analysts

Profitability

EPS (Most Recent Fiscal Year)
$1.60
Trailing P/E Ratio
8.65
Forward P/E Ratio
9.23
P/E Growth
0.26
Net Income
$154.66 million
Net Margins
11.28%
Pretax Margin
12.73%
Return on Equity
21.22%
Return on Assets
11.46%

Debt

Debt-to-Equity Ratio
0.48
Current Ratio
1.76
Quick Ratio
1.61

Sales & Book Value

Annual Sales
$2.65 billion
Price / Sales
1.09
Cash Flow
$2.75 per share
Price / Cash Flow
5.03
Book Value
$7.68 per share
Price / Book
1.80

Miscellaneous

Outstanding Shares
207,990,000
Free Float
203,002,000
Market Cap
$2.88 billion
Optionable
Optionable
Beta
2.38

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Key Executives

  • Mr. William Andrew Hendricks Jr.Mr. William Andrew Hendricks Jr. (Age 58)
    Pres, CEO & Director
    Comp: $3.2M
  • Mr. C. Andrew Smith (Age 52)
    Exec. VP & CFO
    Comp: $1.45M
  • Mr. Seth D. WexlerMr. Seth D. Wexler (Age 51)
    Sr. VP, Gen. Counsel & Sec.
    Comp: $1.15M
  • Mr. Kenneth N. Berns CPAMr. Kenneth N. Berns CPA (Age 63)
    Exec. VP & Chief Commercial Officer
    Comp: $1.43M
  • Mr. James Michael Holcomb (Age 60)
    Exec. VP & Chief Bus. Officer
    Comp: $1.35M
  • Mr. James Michael Drickamer
    VP of Investor Relations
  • Mr. Marty Unrein
    Sr. VP of Sales & Marketing
  • Ms. Diana Dotolo
    Sr. VP of HR
  • Mr. Matt Pye
    Sr. VP of Industry Affairs
  • Ms. Kathryn Roark
    VP of Diversity & ESG

Key Competitors

View All Competitors

Insiders & Institutions

View All Insider Transactions
View All Institutional Transactions













PTEN Stock - Frequently Asked Questions

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

10 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Patterson-UTI Energy in the last year. There are currently 2 hold ratings, 7 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 forecast for 2023?

10 brokerages have issued 1-year price targets for Patterson-UTI Energy's shares. Their PTEN share price forecasts range from $14.00 to $20.00. On average, they predict the company's share price to reach $17.50 in the next twelve months. This suggests a possible upside of 26.4% 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 2023?

Patterson-UTI Energy's stock was trading at $16.84 on January 1st, 2023. Since then, PTEN stock has decreased by 17.8% and is now trading at $13.84.
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, October 25th 2023.
View our PTEN earnings forecast.

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

Patterson-UTI Energy, Inc. (NASDAQ:PTEN) issued its quarterly earnings data on Wednesday, July, 26th. The oil and gas company reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business's revenue was up 22.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.05 EPS.

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

Patterson-UTI Energy announced a quarterly dividend on Wednesday, July 26th. Shareholders 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 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date is Wednesday, September 6th.
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).

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 2.20%. 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 25.81% 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).

What is Patterson-UTI Energy's stock symbol?

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

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.

What is Patterson-UTI Energy's stock price today?

One share of PTEN stock can currently be purchased for approximately $13.84.

How much money does Patterson-UTI Energy make?

Patterson-UTI Energy (NASDAQ:PTEN) has a market capitalization of $2.88 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.

How many employees does Patterson-UTI Energy have?

The company employs 6,500 workers across the globe.

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
How can I contact Patterson-UTI Energy?

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.

This page (NASDAQ:PTEN) was last updated on 10/1/2023 by MarketBeat.com Staff

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