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

10 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Patterson-UTI Energy in the last year. There are currently 5 hold ratings, 4 buy ratings and 1 strong buy rating for the stock. The consensus among Wall Street research analysts is that investors should "buy" PTEN shares.
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10 brokerages have issued 12-month price objectives for Patterson-UTI Energy's shares. Their PTEN share price forecasts range from $13.50 to $26.00. On average, they anticipate the company's stock price to reach $21.17 in the next year. This suggests a possible upside of 26.7% from the stock's current price.
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Patterson-UTI Energy's stock was trading at $16.84 at the start of the year. Since then, PTEN stock has decreased by 0.8% and is now trading at $16.70.
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The company is scheduled to release its next quarterly earnings announcement on Wednesday, February 8th 2023.
View our PTEN earnings forecast.

Patterson-UTI Energy will be holding an earnings conference call on Thursday, February 9th at 10:00 AM Eastern. Interested parties can register for or listen to the call using this link.

Patterson-UTI Energy, Inc. (NASDAQ:PTEN) posted its earnings results on Thursday, October, 28th. The oil and gas company reported ($0.44) earnings per share for the quarter, meeting the consensus estimate of ($0.44). The oil and gas company earned $357.89 million during the quarter, compared to analysts' expectations 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%. The firm's revenue for the quarter was up 72.8% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.60) earnings per share.

Patterson-UTI Energy announced a quarterly dividend on Wednesday, October 26th. Stockholders of record on Thursday, December 1st will be paid a dividend of $0.08 per share on Thursday, December 15th. This represents a $0.32 annualized dividend and a dividend yield of 1.92%. The ex-dividend date is Wednesday, November 30th. This is a positive change from the stock's previous quarterly dividend of $0.04.
Read our dividend analysis for PTEN.

Patterson-UTI Energy (NASDAQ:PTEN) pays an annual dividend of $0.32 per share and currently has a dividend yield of 1.91%.
Read our dividend analysis for PTEN.

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.

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).

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

Patterson-UTI Energy's stock is owned by a variety of retail and institutional investors. Top institutional shareholders include Allspring Global Investments Holdings LLC (2.98%), New York State Common Retirement Fund (0.41%), Ziegler Capital Management LLC (0.16%), Natixis Advisors L.P. (0.10%), Comerica Bank (0.07%) and State of Alaska Department of Revenue (0.07%). Insiders that own company stock include Charles Andrew Smith, James Michael Holcomb, Janeen S Judah, Kenneth N Berns, Seth David Wexler and William Andrew Hendricks Jr.
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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.
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One share of PTEN stock can currently be purchased for approximately $16.70.

Patterson-UTI Energy (NASDAQ:PTEN) has a market capitalization of $3.62 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.

The company employs 5,000 workers across the globe.

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.