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NASDAQ:PTEN

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

$16.84
+0.14 (+0.84%)
(As of 01/31/2023 12:13 PM ET)
Add
Compare
Today's Range
$16.44
$16.86
50-Day Range
$15.30
$18.52
52-Week Range
$9.77
$20.53
Volume
768,929 shs
Average Volume
2.47 million shs
Market Capitalization
$3.65 billion
P/E Ratio
N/A
Dividend Yield
1.91%
Price Target
$21.17

Patterson-UTI Energy MarketRank™ Forecast

Analyst Rating
Moderate Buy
2.60 Rating Score
Upside/​Downside
27.1% Upside
$21.17 Price Target
Short Interest
Bearish
5.65% of Shares Sold Short
Dividend Strength
Weak
Based on Four Factors
Sustainability
-6.95
Upright™ Environmental Score
News Sentiment
0.90mentions of Patterson-UTI Energy in the last 14 days
Based on 11 Articles This Week
Insider Trading
Selling Shares
$1.09 M Sold Last Quarter
Proj. Earnings Growth
276.56%
From $0.64 to $2.41 Per Share

Overall MarketRank

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

2.27 out of 5 stars

Oils/Energy Sector

114th out of 246 stocks

Drilling Oil & Gas Wells Industry

3rd out of 10 stocks


PTEN stock logo

About Patterson-UTI Energy (NASDAQ:PTEN) Stock

Patterson-UTI Energy, Inc. engages in the provision of drilling and pressure pumping services, directional drilling, rental equipment and technology. It operates through the following segments: Contract Drilling Services, Pressure Pumping Services, and Directional Drilling Services. The Contract Drilling Services segment markets its services to major and independent oil and natural gas operators. The Pressure Pumping Services segment offers pressure pumping services to oil and natural gas operators primarily in Texas and the Appalachian Basin. The Directional Drilling Services segment consists of downhole performance motors and equipment to provide services including directional drilling, downhole performance motors, motor rentals, directional surveying, measurement-while-drilling, and wireline steering tools, in most major onshore oil and natural gas basins. The company was founded by Cloyce A. Talbott and A. Glenn Patterson in 1978 and is headquartered in Houston, TX.

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PTEN Stock News Headlines

Liberty Energy (LBRT) Authorizes Expanded Buyback Program
Apple, Amazon, and Walmart are Investing in Solar Energy
The global market for solar energy is expected to be worth an astronomical $1 trillion by the end of 2028, with increasing adoption of solar by commercial, non-profit, and public entities. Even Fortune 500 companies such as Apple, Amazon, and Walmart are investing in solar to help save money over the long term. So it's little wonder solar is also becoming one of the fastest growing sectors in the U.S. stock market.
Exxon (XOM) Brings an End to Routine Permian Gas Flaring
Patterson-UTI Energy (NASDAQ:PTEN) Trading Up 4.6%
Apple, Amazon, and Walmart are Investing in Solar Energy
The global market for solar energy is expected to be worth an astronomical $1 trillion by the end of 2028, with increasing adoption of solar by commercial, non-profit, and public entities. Even Fortune 500 companies such as Apple, Amazon, and Walmart are investing in solar to help save money over the long term. So it's little wonder solar is also becoming one of the fastest growing sectors in the U.S. stock market.
Patterson-UTI Energy Sees Q4 Net Income Exceeding $100 Mln
See More Headlines
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PTEN Company Calendar

Last Earnings
10/28/2021
Ex-Dividend for 12/15 Dividend
11/30/2022
Dividend Payable
12/15/2022
Today
1/31/2023
Next Earnings (Confirmed)
2/08/2023
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
5,000
Year Founded
1978

Price Target and Rating

Average Stock Price Forecast
$21.17
High Stock Price Forecast
$26.00
Low Stock Price Forecast
$13.50
Forecasted Upside/Downside
+25.7%
Consensus Rating
Moderate Buy
Rating Score (0-4)
2.60
Research Coverage
10 Analysts

Profitability

Net Income
$-654,540,000.00
Pretax Margin
-13.46%

Debt

Sales & Book Value

Annual Sales
$1.36 billion
Cash Flow
$2.22 per share
Book Value
$7.48 per share

Miscellaneous

Free Float
210,968,000
Market Cap
$3.65 billion
Optionable
Optionable
Beta
2.33

Social Links


Key Executives

  • Andy Hendricks
    President, Chief Executive Officer & Director
  • James M. Holcomb
    Chief Operating Officer
  • C. Andrew Smith
    Chief Financial Officer & Executive Vice President
  • Kenneth Neil BernsKenneth Neil Berns
    Chief Commercial Officer & Executive VP
  • Seth David WexlerSeth David Wexler
    Secretary, Senior VP & General Counsel













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 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.
View PTEN analyst ratings
or view top-rated stocks.

What is Patterson-UTI Energy's stock price forecast for 2023?

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.
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 start of the year. Since then, PTEN stock has decreased by 0.8% and is now trading at $16.70.
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, February 8th 2023.
View our PTEN earnings forecast
.

How can I listen to Patterson-UTI Energy's earnings call?

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.

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

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.

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. 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
.

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 1.91%.
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 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.
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 $16.70.

How much money does Patterson-UTI Energy make?

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.

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 1/31/2023 by MarketBeat.com Staff