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

12 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Patterson-UTI Energy in the last year. There are currently 6 hold ratings, 5 buy ratings and 1 strong buy rating for the stock. The consensus among Wall Street analysts is that investors should "buy" PTEN shares.
View PTEN analyst ratings or view top-rated stocks.

12 Wall Street research 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 expect the company's stock price to reach $21.05 in the next year. This suggests a possible upside of 94.4% from the stock's current price.
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Patterson-UTI Energy's stock was trading at $16.84 at the beginning of 2023. Since then, PTEN stock has decreased by 35.7% and is now trading at $10.83.
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The company is scheduled to release its next quarterly earnings announcement on Wednesday, April 26th 2023.
View our PTEN earnings forecast.

Patterson-UTI Energy, Inc. (NASDAQ:PTEN) posted its earnings results on Wednesday, February, 8th. The oil and gas company reported $0.46 earnings per share for the quarter, topping analysts' consensus estimates of $0.43 by $0.03. The oil and gas company earned $788.50 million during the quarter, compared to the consensus estimate of $758.68 million. Patterson-UTI Energy had a net margin of 5.84% and a trailing twelve-month return on equity of 8.87%. The company's revenue for the quarter was up 69.0% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.38) EPS.

Patterson-UTI Energy declared a quarterly dividend on Wednesday, February 8th. Shareholders of record on Thursday, March 2nd will be given a dividend of $0.08 per share on Thursday, March 16th. This represents a $0.32 annualized dividend and a yield of 2.95%. The ex-dividend date is Wednesday, March 1st.
Read our dividend analysis for PTEN.

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), Direxion Daily Oil Services Bull 2X Shares (ONG), Invesco Dynamic Oil & Gas Services ETF (PXJ), VanEck Oil Services ETF (OIH), iShares U.S. Oil Equipment & Services ETF (IEZ), Invesco DWA Energy Momentum ETF (PXI) and Cambria Value and Momentum ETF (VAMO).

Patterson-UTI Energy (NASDAQ:PTEN) pays an annual dividend of $0.32 per share and currently has a dividend yield of 2.99%. The company does not yet have a strong track record of dividend growth. The dividend payout ratio is 45.07%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, PTEN will have a dividend payout ratio of 13.91% next year. This indicates that the company will be able to sustain or increase its dividend.
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 investors include Macquarie Group Ltd. (6.76%), Dimensional Fund Advisors LP (4.13%), Van ECK Associates Corp (3.05%), Allspring Global Investments Holdings LLC (2.98%), Anomaly Capital Management LP (2.61%) and Alliancebernstein L.P. (2.27%). Insiders that own company stock include Charles Andrew Smith, James Michael Holcomb, 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 $10.83.

Patterson-UTI Energy (NASDAQ:PTEN) has a market capitalization of $2.31 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 $0.71 on an earnings per share basis.

The company employs 6,500 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.