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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
4.11 million shs
Market Capitalization
$2.88 billion
P/E Ratio
8.65
Dividend Yield
2.31%
Price Target
$17.50

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
0.73mentions of Patterson-UTI Energy in the last 14 days
Based on 13 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

40th out of 247 stocks

Drilling Oil & Gas Wells Industry

2nd out of 12 stocks


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

66,000% upside on tiny biotech?
The Wall Street Journal reports that this medical breakthrough is "Transforming Medicine." One analyst calculated that it could be worth $1 Trillion, making the upside potential of this small-cap 66,000% above today's price.
The single greatest medical breakthrough of all time?
We are on the cusp of a medical breakthrough. And soon, this single breakthrough could lead to the cure of over 6,000 genetic diseases, including Alzheimer's, heart disease, and even cancer! This reminds me of Amgen, where early investors made as much as 46,751% when they released their revolutionary drug to the market.
Patterson-UTI Reports Drilling Activity for August 2023
Susquehanna Sticks to Its Buy Rating for Patterson-UTI (PTEN)
Patterson-UTI (PTEN) Receives a Buy from RBC Capital
Patterson-UTI (PTEN) Has a New Rating from Stifel Nicolaus
Patterson-UTI (PTEN) Gets a Buy from RBC Capital
Patterson-UTI Reports Drilling Activity for July 2023
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
9/29/2023
Next Earnings (Estimated)
10/25/2023
Fiscal Year End
12/31/2023

Industry, Sector and Symbol

Industry
Drilling oil & gas wells
Sub-Industry
Oil & Gas Drilling
Current Symbol
NASDAQ:PTEN
CUSIP
70348110
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
+26.6%
Consensus Rating
Moderate Buy
Rating Score (0-4)
2.90
Research Coverage
10 Analysts

Profitability

Net Income
$154.66 million
Pretax Margin
12.73%

Debt

Sales & Book Value

Annual Sales
$2.65 billion
Cash Flow
$2.65 per share
Book Value
$7.68 per share

Miscellaneous

Free Float
203,002,000
Market Cap
$2.87 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













PTEN Stock - Frequently Asked Questions

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

10 Wall Street 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 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 forecast for 2023?

10 equities research analysts have issued 12 month target prices 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 26.6% 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 at the beginning of 2023. Since then, PTEN shares have decreased by 17.9% and is now trading at $13.82.
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) posted its quarterly earnings data on Wednesday, July, 26th. The oil and gas company reported $0.40 EPS for the quarter, missing the consensus estimate of $0.44 by $0.04. The oil and gas company had revenue of $758.89 million for the quarter, compared to analysts' expectations of $781.73 million. Patterson-UTI Energy had a trailing twelve-month return on equity of 21.22% and a net margin of 11.28%. The company's quarterly revenue was up 22.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.05 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, July 26th. Stockholders of record on Thursday, September 7th will be given a dividend of $0.08 per share on Thursday, September 21st. This represents a $0.32 annualized dividend and a yield of 2.32%. The ex-dividend date is Wednesday, September 6th.
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 2.12%. 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 $13.82.

How much money does Patterson-UTI Energy make?

Patterson-UTI Energy (NASDAQ:PTEN) has a market capitalization of $2.87 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 9/29/2023 by MarketBeat.com Staff

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