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NASDAQ:PTEN

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

$14.35
-0.02 (-0.14%)
(As of 08/8/2022 11:58 AM ET)
Add
Compare
Today's Range
$14.09
$14.53
50-Day Range
$12.69
$19.81
52-Week Range
$6.44
$20.53
Volume
51,492 shs
Average Volume
3.77 million shs
Market Capitalization
$3.11 billion
P/E Ratio
N/A
Dividend Yield
1.11%
Price Target
$19.93

Patterson-UTI Energy MarketRank™ Forecast

Analyst Rating
Moderate Buy
2.50 Rating Score
Upside/​Downside
39.1% Upside
$19.93 Price Target
Short Interest
Healthy
4.30% of Shares Sold Short
Dividend Strength
Weak
Based on Four Factors
Sustainability
-6.95
Upright™ Environmental Score
News Sentiment
0.87mentions of Patterson-UTI Energy in the last 14 days
Based on 17 Articles This Week
Insider Trading
Selling Shares
$8.05 M Sold Last Quarter
Proj. Earnings Growth
307.50%
From $0.40 to $1.63 Per Share

Overall MarketRank

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

2.89 out of 5 stars

Oils/Energy Sector

30th out of 344 stocks

Drilling Oil & Gas Wells Industry

2nd out of 13 stocks

PTEN stock logo

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.

Analyst Ratings Changes

Several equities research analysts recently issued reports on PTEN shares. Susquehanna Bancshares raised their price objective on shares of Patterson-UTI Energy from $20.00 to $23.00 and gave the stock a "positive" rating in a research report on Wednesday, June 8th. Morgan Stanley raised their price objective on shares of Patterson-UTI Energy from $18.00 to $19.00 and gave the stock an "overweight" rating in a report on Monday, August 1st. Piper Sandler cut shares of Patterson-UTI Energy from an "overweight" rating to a "neutral" rating and lifted their target price for the company from $21.00 to $22.75 in a report on Tuesday, May 31st. They noted that the move was a valuation call. Benchmark initiated coverage on shares of Patterson-UTI Energy in a report on Monday, April 18th. They issued a "buy" rating and a $21.00 target price on the stock. Finally, Susquehanna lifted their price objective on shares of Patterson-UTI Energy from $20.00 to $23.00 in a research report on Wednesday, June 8th. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $19.93.

Patterson-UTI Energy Stock Performance

NASDAQ:PTEN traded up $0.51 during trading hours on Friday, hitting $14.37. The company had a trading volume of 2,171,525 shares, compared to its average volume of 2,862,665. Patterson-UTI Energy has a fifty-two week low of $6.44 and a fifty-two week high of $20.53. The company has a quick ratio of 1.23, a current ratio of 1.39 and a debt-to-equity ratio of 0.56. The business has a fifty day simple moving average of $15.72 and a 200-day simple moving average of $15.12. The firm has a market cap of $3.12 billion, a P/E ratio of -6.68 and a beta of 2.26.

Patterson-UTI Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Thursday, September 1st will be paid a dividend of $0.04 per share. The ex-dividend date is Wednesday, August 31st. This represents a $0.16 annualized dividend and a yield of 1.11%. Patterson-UTI Energy's dividend payout ratio is currently -7.44%.

Insider Activity at Patterson-UTI Energy

In related news, CEO William Andrew Hendricks, Jr. sold 100,000 shares of the firm's stock in a transaction dated Monday, July 11th. The stock was sold at an average price of $13.76, for a total transaction of $1,376,000.00. Following the completion of the transaction, the chief executive officer now owns 1,801,374 shares of the company's stock, valued at $24,786,906.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO William Andrew Hendricks, Jr. sold 200,000 shares of the stock in a transaction on Friday, June 10th. The stock was sold at an average price of $18.07, for a total value of $3,614,000.00. Following the completion of the transaction, the chief executive officer now owns 1,901,374 shares in the company, valued at approximately $34,357,828.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William Andrew Hendricks, Jr. sold 100,000 shares of the stock in a transaction on Monday, July 11th. The shares were sold at an average price of $13.76, for a total value of $1,376,000.00. Following the completion of the transaction, the chief executive officer now owns 1,801,374 shares of the company's stock, valued at approximately $24,786,906.24. The disclosure for this sale can be found here. Insiders sold 491,666 shares of company stock valued at $8,050,072 over the last 90 days. 2.70% of the stock is currently owned by corporate insiders.

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PTEN Stock News Headlines

Biden: By 2030, 50% Of All Vehicles Will Be Electric. Sparking New "Lithium Gold Rush."
Experts predict that the global lithium market will balloon by 500%. That's wonderful news for investors, because a "sure-thing" like this appears once in a lifetime. And this small-cap company just snagged what could be one of the world's largest lithium deposits.
Patterson-UTI Reports Drilling Activity for July 2022
Is This "Military Tech Crisis" About To Spark A $15B Boom For Investors?
This is a National Emergency. Right now, China controls a CRITICAL resource that we need for our planes, missiles, vehicles, and weapons. However, executive orders from Biden and Trump are forcing China out of the game...
Patterson-UTI Energy (NASDAQ:PTEN) Upgraded at StockNews.com
Patterson-UTI Energy (NASDAQ:PTEN) Stock Price Up 8.5%
Patterson-UTI Energy (NASDAQ:PTEN) Price Target Cut to $18.00
What 10 Analyst Ratings Have To Say About Patterson-UTI Energy
See More Headlines
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PTEN Company Calendar

Last Earnings
10/28/2021
Ex-Dividend for 6/16 Dividend
6/01/2022
Dividend Payable
6/16/2022
Today
8/08/2022
Ex-Dividend for 9/15 Dividend
8/31/2022
Dividend Payable
9/15/2022
Next Earnings (Estimated)
10/27/2022
Fiscal Year End
12/31/2022

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
$19.93
High Stock Price Forecast
$24.00
Low Stock Price Forecast
$12.00
Forecasted Upside/Downside
+38.9%
Consensus Rating
Moderate Buy
Rating Score (0-4)
2.50
Research Coverage
10 Analysts

Profitability

Net Income
$-654,540,000.00
Pretax Margin
-24.40%

Debt

Sales & Book Value

Annual Sales
$1.36 billion
Cash Flow
$2.20 per share
Book Value
$7.48 per share

Miscellaneous

Free Float
210,968,000
Market Cap
$3.11 billion
Optionable
Optionable
Beta
2.27

Social Links















PTEN Stock - Frequently Asked Questions

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

10 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Patterson-UTI Energy in the last twelve months. There are currently 5 hold ratings and 5 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "buy" Patterson-UTI Energy stock.
View analyst ratings for Patterson-UTI Energy
or view top-rated stocks.

What is Patterson-UTI Energy's stock price forecast for 2022?

10 analysts have issued 1-year target prices for Patterson-UTI Energy's shares. Their PTEN stock forecasts range from $12.00 to $24.00. On average, they expect Patterson-UTI Energy's share price to reach $19.93 in the next twelve months. This suggests a possible upside of 38.7% from the stock's current price.
View analysts' price targets for Patterson-UTI Energy
or view top-rated stocks among Wall Street analysts.

How has Patterson-UTI Energy's stock price performed in 2022?

Patterson-UTI Energy's stock was trading at $8.45 on January 1st, 2022. Since then, PTEN shares have increased by 70.1% and is now trading at $14.37.
View the best growth stocks for 2022 here
.

When is Patterson-UTI Energy's next earnings date?

Patterson-UTI Energy is scheduled to release its next quarterly earnings announcement on Thursday, October 27th 2022.
View our earnings forecast for Patterson-UTI Energy
.

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

Patterson-UTI Energy, Inc. (NASDAQ:PTEN) announced its earnings results on Thursday, October, 28th. The oil and gas company reported ($0.44) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.44). The oil and gas company had revenue of $357.89 million for the quarter, compared to analyst estimates of $352.03 million. Patterson-UTI Energy had a negative trailing twelve-month return on equity of 11.42% and a negative net margin of 23.09%. Patterson-UTI Energy's revenue for the quarter was up 72.8% compared to the same quarter last year. During the same quarter last year, the company posted ($0.60) 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, July 27th. Stockholders of record on Thursday, September 1st will be paid a dividend of $0.04 per share on Thursday, September 15th. This represents a $0.16 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date of this dividend is Wednesday, August 31st.
View Patterson-UTI Energy's dividend history
.

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 1.11%.
View Patterson-UTI Energy's dividend history.

What is Andy Hendricks' approval rating as Patterson-UTI Energy's CEO?

73 employees have rated Patterson-UTI Energy CEO Andy Hendricks on Glassdoor.com. Andy Hendricks has an approval rating of 79% among Patterson-UTI Energy'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 Van ECK Associates Corp (3.73%), Allspring Global Investments Holdings LLC (3.07%), Jennison Associates LLC (1.98%), Russell Investments Group Ltd. (0.49%), Calamos Advisors LLC (0.30%) and Peregrine Capital Management LLC (0.23%). Company insiders that own Patterson-UTI Energy stock include Charles Andrew Smith, Curtis W Huff, James Michael Holcomb, Janeen S Judah, Kenneth N Berns, Seth David Wexler, Terry H Hunt and William Andrew Hendricks Jr.
View institutional ownership trends for Patterson-UTI Energy
.

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 $14.37.

How much money does Patterson-UTI Energy make?

Patterson-UTI Energy (NASDAQ:PTEN) has a market capitalization of $3.12 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 ($2.15) on an earnings per share basis.

How many employees does Patterson-UTI Energy have?

Patterson-UTI Energy 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.
Read More

When was Patterson-UTI Energy founded?

Patterson-UTI Energy was founded in 1978.

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 Patterson-UTI Energy 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 8/8/2022 by MarketBeat.com Staff

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