NASDAQ:PTEN

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

$17.48

+0.01 (+0.06%)

(As of 11/30/2022 12:35 PM ET)

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Today's Range: $17.41
▼
$17.88
50-Day Range: $10.86
▼
$19.30
52-Week Range: $6.70
▼
$20.53

Volume: 22,854 shs
Average Volume: 2.21 million shs
Market Capitalization: $3.79 billion

P/E Ratio: N/A
Dividend Yield: 0.94%
Price Target: $21.50

Patterson-UTI Energy MarketRank™ Forecast

Analyst Rating: Moderate Buy
2.67 Rating Score
Upside/Downside: 22.4% Upside
$21.50 Price Target
Short Interest: Healthy
3.87% of Shares Sold Short
Dividend Strength: Weak
Based on Four Factors
Sustainability: -6.95
Upright™ Environmental Score
News Sentiment: 1.04
Based on 4 Articles This Week
Insider Trading: Selling Shares
$1.35 M Sold Last Quarter
Proj. Earnings Growth: 312.96%
From $0.54 to $2.23 Per Share

Overall MarketRank^™

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

2.24 out of 5 stars

Oils/Energy Sector

127th out of 245 stocks

Drilling Oil & Gas Wells Industry

5th out of 8 stocks

2.3

Analyst's Opinion

Consensus Rating
Patterson-UTI Energy has received a consensus rating of Buy. The company's average rating score is 2.67, and is based on 6 buy ratings, 3 hold ratings, and no sell ratings.
Price Target Upside/Downside
According to analysts' consensus price target of $21.50, Patterson-UTI Energy has a forecasted upside of 22.4% from its current price of $17.56.
Amount of Analyst Coverage
Patterson-UTI Energy has only been the subject of 3 research reports in the past 90 days.

5.0

Short Interest

Percentage of Shares Shorted
3.87% of the outstanding shares of Patterson-UTI Energy have been sold short.
Short Interest Ratio / Days to Cover
Patterson-UTI Energy has a short interest ratio ("days to cover") of 3.2, which is generally considered an acceptable ratio of short interest to trading volume.
Change versus previous month
Short interest in Patterson-UTI Energy has recently decreased by 7.79%, indicating that investor sentiment is improving significantly.

0.8

Dividend Strength

Dividend Yield
Patterson-UTI Energy has a dividend yield of 0.94%, which is in the bottom 25% of all stocks that pay dividends.
Dividend Growth
Patterson-UTI Energy has only been increasing its dividend for 1 years.
Dividend Sustainability
Based on earnings estimates, Patterson-UTI Energy will have a dividend payout ratio of 7.17% next year. This indicates that Patterson-UTI Energy will be able to sustain or increase its dividend.

0.0

Sustainability and ESG

Overall ESG (Environmental, Social, and Governance) Score
Patterson-UTI Energy has received a -157.48% net impact score from Upright. The largest negative impact of Patterson-UTI Energy in category "GHG emissions" is driven by its "Oil drilling services" and "Machinery for oil and gas industry rentals" products. See details.
Environmental Sustainability
The Environmental Impact score for Patterson-UTI Energy is -6.95.

3.4

News and Social Media Coverage

News Sentiment
Patterson-UTI Energy has a news sentiment score of 1.04. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a higher news sentiment than the 0.48 average news sentiment score of Oils/Energy companies.
News Coverage This Week
MarketBeat has tracked 4 news articles for Patterson-UTI Energy this week, compared to 2 articles on an average week.
Search Interest
Only 3 people have searched for PTEN on MarketBeat in the last 30 days. This is a decrease of -67% compared to the previous 30 days.
MarketBeat Follows
11 people have added Patterson-UTI Energy to their MarketBeat watchlist in the last 30 days. This is an increase of 1,000% compared to the previous 30 days.

2.5

Company Ownership

Insider Buying vs. Insider Selling
In the past three months, Patterson-UTI Energy insiders have sold more of their company's stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $1,354,770.00 in company stock.
Percentage Held by Insiders
Only 2.70% of the stock of Patterson-UTI Energy is held by insiders.
Percentage Held by Institutions
99.72% of the stock of Patterson-UTI Energy is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

1.9

Earnings and Valuation

Earnings Growth
Earnings for Patterson-UTI Energy are expected to grow by 312.96% in the coming year, from $0.54 to $2.23 per share.
Price to Earnings Ratio vs. the Market
The P/E ratio of Patterson-UTI Energy is -12.28, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.
Price to Earnings Ratio vs. Sector
The P/E ratio of Patterson-UTI Energy is -12.28, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.
Price to Book Value per Share Ratio
Patterson-UTI Energy has a P/B Ratio of 2.33. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

See Top Rated MarketRank™ Stocks Here

About Patterson-UTI Energy (NASDAQ:PTEN) Stock

Patterson-UTI Energy, Inc., through its subsidiaries, provides onshore 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. As of December 31, 2021, this segment had a drilling fleet of 192 marketable land-based drilling rigs. 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.

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PTEN Stock News Headlines

November 30, 2022 | americanbankingnews.com

Patterson-UTI Energy (NASDAQ:PTEN) Shares Gap Down to $17.58

November 25, 2022 | finance.yahoo.com

Patterson-UTI (PTEN) Up 7.1% Since Last Earnings Report: Can It Continue?

November 23, 2022 | americanbankingnews.com

Patterson-UTI Energy (NASDAQ:PTEN) Shares Gap Down to $18.58

November 23, 2022 | americanbankingnews.com

Stock Traders Buy Large Volume of Put Options on Patterson-UTI Energy (NASDAQ:PTEN)

November 21, 2022 | finance.yahoo.com

Earnings Estimates Moving Higher for Patterson-UTI (PTEN): Time to Buy?

November 19, 2022 | finance.yahoo.com

Patterson-UTI Energy's (NASDAQ:PTEN) Dividend Will Be Increased To $0.08

November 9, 2022 | finance.yahoo.com

Patterson-UTI (PTEN) Is Up 4.74% in One Week: What You Should Know

November 5, 2022 | finanznachrichten.de

Patterson-UTI Energy, Inc.: Patterson-UTI Reports Drilling Activity for October 2022

November 3, 2022 | finance.yahoo.com

Patterson-UTI Energy (NASDAQ:PTEN) Is Increasing Its Dividend To $0.08

November 3, 2022 | finance.yahoo.com

Patterson-UTI Reports Drilling Activity for October 2022

November 1, 2022 | finance.yahoo.com

Patterson-UTI (PTEN) Earnings & Sales Beat Estimates in Q3

November 1, 2022 | finance.yahoo.com

Top Energy Stock Flashes Hyper-Bullish Signal With Strong Drivers

October 27, 2022 | seekingalpha.com

Patterson-UTI Energy stock gains over 12% on earnings topper, upbeat outlook

October 27, 2022 | seekingalpha.com

Patterson-UTI Energy, Inc. (PTEN) Q3 2022 Earnings Call Transcript

October 26, 2022 | finance.yahoo.com

Patterson-UTI Energy Reports Financial Results for the Quarter Ended September 30, 2022; Doubles Dividend and Announces Shareholder Return Target

October 26, 2022 | finance.yahoo.com

Patterson-UTI (PTEN) Q3 Earnings and Revenues Surpass Estimates

October 20, 2022 | msn.com

Are Oils-Energy Stocks Lagging PattersonUTI Energy (PTEN) This Year?

October 20, 2022 | finance.yahoo.com

Can Patterson-UTI (PTEN) Run Higher on Rising Earnings Estimates?

October 19, 2022 | finance.yahoo.com

Patterson-UTI (PTEN) Earnings Expected to Grow: What to Know Ahead of Next Week's Release

October 17, 2022 | finance.yahoo.com

Do Options Traders Know Something About Patterson-UTI Energy (PTEN) Stock We Don't?

October 5, 2022 | finance.yahoo.com

Patterson-UTI Reports Drilling Activity for September 2022

October 4, 2022 | finanznachrichten.de

Patterson-UTI Energy, Inc.: Patterson-UTI Energy Announces Third Quarter Earnings Conference Call and Webcast

September 16, 2022 | nasdaq.com

Notable Two Hundred Day Moving Average Cross - PTEN

September 14, 2022 | nasdaq.com

Is the Options Market Predicting a Spike in PattersonUTI Energy (PTEN) Stock?

September 7, 2022 | reuters.com

Patterson-UTI says hydraulic fracturing market 'literally sold out'

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30 days | 90 days | 365 days | Advanced Chart

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PTEN Company Calendar

Last Earnings: 10/28/2021
Ex-Dividend for 9/15 Dividend: 8/31/2022
Dividend Payable: 9/15/2022
Today: 11/30/2022
Ex-Dividend for 12/15 Dividend: 11/30/2022
Dividend Payable: 12/15/2022
Fiscal Year End: 12/31/2022
Next Earnings (Estimated): 2/09/2023

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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: 5,000
Year Founded: 1978

Price Target and Rating

Average Stock Price Forecast: $21.50
High Stock Price Forecast: $26.00
Low Stock Price Forecast: $13.50
Forecasted Upside/Downside: +23.0%
Consensus Rating: Moderate Buy
Rating Score (0-4): 2.67
Research Coverage: 9 Analysts

Profitability

EPS (Most Recent Fiscal Year): ($1.43)
Trailing P/E Ratio: N/A
Forward P/E Ratio: 32.37
P/E Growth: N/A
Net Income: $-654,540,000.00
Net Margins: -13.21%
Pretax Margin: -13.46%
Return on Equity: -2.60%
Return on Assets: -1.41%

Debt

Debt-to-Equity Ratio: 0.52
Current Ratio: 1.55
Quick Ratio: 1.43

Sales & Book Value

Annual Sales: $1.36 billion
Price / Sales: 2.79
Cash Flow: $2.26 per share
Price / Cash Flow: 7.75
Book Value: $7.54 per share
Price / Book: 2.32

Miscellaneous

Outstanding Shares: 216,820,000
Free Float: 210,968,000
Market Cap: $3.79 billion
Optionable: Optionable
Beta: 2.39

Social Links

Key Executives

Mr. William Andrew Hendricks Jr. (Age 57)
Pres, CEO & Director
Comp: $2.57M

Mr. C. Andrew Smith (Age 51)
Exec. VP & CFO
Comp: $1.16M

Mr. Seth D. Wexler (Age 50)
Sr. VP, Gen. Counsel & Sec.
Comp: $961.6k

Mr. Kenneth N. Berns CPA (Age 62)
Exec. VP & Chief Commercial Officer
Comp: $1.15M

Mr. James Michael Holcomb (Age 59)
Pres of UTI Drilling Company LLC
Comp: $941.6k

Mr. James Michael Drickamer
VP of Investor Relations

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?: 9 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Patterson-UTI Energy in the last year. There are currently 3 hold ratings and 6 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "buy" PTEN shares.
View PTEN analyst ratings or view top-rated stocks.
What is Patterson-UTI Energy's stock price forecast for 2023?: 9 analysts have issued twelve-month price targets for Patterson-UTI Energy's stock. Their PTEN share price forecasts range from $13.50 to $26.00. On average, they anticipate the company's share price to reach $21.50 in the next year. This suggests a possible upside of 23.1% 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 2022?: Patterson-UTI Energy's stock was trading at $8.45 at the beginning of the year. Since then, PTEN stock has increased by 106.7% and is now trading at $17.47.
View the best growth stocks for 2022 here.
When is Patterson-UTI Energy's next earnings date?: The company is scheduled to release its next quarterly earnings announcement on Thursday, February 9th 2023.
View our PTEN earnings forecast.
How were Patterson-UTI Energy's earnings last quarter?: Patterson-UTI Energy, Inc. (NASDAQ:PTEN) released its earnings results on Thursday, October, 28th. The oil and gas company reported ($0.44) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.44). The oil and gas company earned $357.89 million during the quarter, compared to the consensus estimate of $352.03 million. Patterson-UTI Energy had a negative trailing twelve-month return on equity of 2.60% and a negative net margin of 13.21%. Patterson-UTI Energy's quarterly revenue was up 72.8% compared to the same quarter last year. During the same period last year, the business earned ($0.60) earnings per share.
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, October 26th. Shareholders of record on Thursday, December 1st will be given a dividend of $0.08 per share on Thursday, December 15th. This represents a $0.32 annualized dividend and a yield of 1.83%. The ex-dividend date is Wednesday, November 30th. This is an increase from the stock's previous quarterly dividend of $0.04.
Read our dividend analysis for PTEN.
Is Patterson-UTI Energy a good dividend stock?: Patterson-UTI Energy (NASDAQ:PTEN) pays an annual dividend of $0.16 per share and currently has a dividend yield of 0.94%.
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."
Who are Patterson-UTI Energy's major shareholders?: Patterson-UTI Energy's stock is owned by many different institutional and retail investors. Top institutional investors include BlackRock Inc. (18.61%), Vanguard Group Inc. (11.83%), Macquarie Group Ltd. (6.41%), Dimensional Fund Advisors LP (4.42%), State Street Corp (3.86%) and Anomaly Capital Management LP (3.49%). Insiders that own company stock include Charles Andrew Smith, James Michael Holcomb, Janeen S Judah, Kenneth N Berns, Seth David Wexler, Terry H Hunt 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 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 $17.47.
How much money does Patterson-UTI Energy make?: Patterson-UTI Energy (NASDAQ:PTEN) has a market capitalization of $3.79 billion and generates $1.36 billion in revenue each year. The oil and gas company earns $-654,540,000.00 in net income (profit) each year or ($1.43) on an earnings per share basis.
How many employees does Patterson-UTI Energy have?: The company employs 5,000 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.
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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 11/30/2022 by MarketBeat.com Staff

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