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

$11.31
+0.25 (+2.26%)
(As of 05/17/2024 ET)
Today's Range
$11.02
$11.42
50-Day Range
$10.50
$12.52
52-Week Range
$9.70
$16.17
Volume
5.64 million shs
Average Volume
6.40 million shs
Market Capitalization
$4.54 billion
P/E Ratio
16.63
Dividend Yield
2.83%
Price Target
$15.67

Patterson-UTI Energy MarketRank™ Stock Analysis

Analyst Rating
Moderate Buy
2.77 Rating Score
Upside/​Downside
38.5% Upside
$15.67 Price Target
Short Interest
Healthy
5.88% of Shares Sold Short
Dividend Strength
Moderate
Based on Four Factors
Sustainability
-6.95
Upright™ Environmental Score
News Sentiment
1.39mentions of Patterson-UTI Energy in the last 14 days
Based on 6 Articles This Week
Insider Trading
Selling Shares
$2.20 M Sold Last Quarter
Proj. Earnings Growth
63.64%
From $0.55 to $0.90 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.

4.98 out of 5 stars

Oils/Energy Sector

3rd out of 242 stocks

Drilling Oil & Gas Wells Industry

1st out of 12 stocks

PTEN stock logo

About Patterson-UTI Energy Stock (NASDAQ:PTEN)

Patterson-UTI Energy, Inc., through its subsidiaries, engages in the provision of contract drilling services to oil and natural gas operators in the United States and internationally. It operates through three segments: Drilling Services, Completion Services, and Drilling Products. The Contract Drilling Services segment provides contract and directional drilling services in onshore oil and natural gas basins, as well as engages in the service and re-certification of equipment for drilling contractors, and provision of electrical controls and automation to the energy, marine and mining industries. The Completion Services segment offers services for hydraulic fracturing, wireline and pumping, completion support, and cementing; and involved in the power solutions natural gas fueling, and logistics and storage businesses. The Drilling Products segment manufactures and distributes drill bits for energy and mining markets. It also provides software and services, such as MWD Survey FDIR, a data analytics technology to analyze MWD survey data in real-time and identify the position of a well; HiFi Nav, which enhances FDIR by targeting improved vertical placement of the directional well within the reservoir; HiFi Guidance, utilizes trajectory optimization to determine optimal steering recommendations and placement within the reservoir; and rents oilfield tools. The company was founded in 1978 and is headquartered in Houston, Texas.

PTEN Stock Price History

PTEN Stock News Headlines

Piper Sandler Reaffirms Their Buy Rating on Patterson-UTI (PTEN)
Q1 2024 Patterson-UTI Energy Inc Earnings Call
Patterson-UTI: Q1 Earnings Snapshot
Patterson-UTI Energy Inc.
Assessing Patterson-UTI Energy: Insights From 4 Financial Analysts
See More Headlines
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Company Calendar

Ex-Dividend for 3/15 Dividend
2/29/2024
Dividend Payable
3/15/2024
Last Earnings
5/01/2024
Today
5/18/2024
Ex-Dividend for 6/17 Dividend
6/03/2024
Dividend Payable
6/17/2024
Next Earnings (Estimated)
7/24/2024
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
$15.67
High Stock Price Target
$19.00
Low Stock Price Target
$12.00
Potential Upside/Downside
+38.5%
Consensus Rating
Moderate Buy
Rating Score (0-4)
2.77
Research Coverage
13 Analysts

Profitability

Net Income
$246.29 million
Pretax Margin
5.32%

Debt

Sales & Book Value

Annual Sales
$4.87 billion
Cash Flow
$2.59 per share
Book Value
$11.83 per share

Miscellaneous

Free Float
392,462,000
Market Cap
$4.54 billion
Optionable
Optionable
Beta
2.23

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PTEN Stock Analysis - Frequently Asked Questions

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

13 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Patterson-UTI Energy in the last year. There are currently 4 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?

13 brokers have issued 12 month price targets 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 stock price to reach $15.67 in the next year. This suggests a possible upside of 38.5% 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 on January 1st, 2024. Since then, PTEN stock has increased by 4.7% and is now trading at $11.31.
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, July 24th 2024.
View our PTEN earnings forecast
.

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

Patterson-UTI Energy, Inc. (NASDAQ:PTEN) posted its earnings results on Wednesday, May, 1st. The oil and gas company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.13 by $0.02. The oil and gas company earned $1.51 billion during the quarter, compared to analyst estimates of $1.51 billion. Patterson-UTI Energy had a trailing twelve-month return on equity of 7.13% and a net margin of 4.07%. During the same period last year, the company posted $0.46 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, May 1st. Investors of record on Monday, June 3rd will be given a dividend of $0.08 per share on Monday, June 17th. This represents a $0.32 annualized dividend and a dividend yield of 2.83%. The ex-dividend date is Monday, June 3rd.
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 2.89%. The company has been increasing its dividend for 3 consecutive year(s), indicating that it does not yet have a strong track record of dividend growth. The dividend payout ratio is 47.06%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, PTEN will have a dividend payout ratio of 35.56% 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 many different retail and institutional investors. Top institutional shareholders include Vanguard Group Inc. (11.55%), Van ECK Associates Corp (1.95%), Allspring Global Investments Holdings LLC (1.81%), Allspring Global Investments Holdings LLC (1.81%), Principal Financial Group Inc. (1.22%) and Westfield Capital Management Co. LP (0.96%). 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 5/19/2024 by MarketBeat.com Staff

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