Patterson-UTI Energy, Inc , through its subsidiaries, provides onshore contract drilling services to oil and natural gas operators in the United States and internationally.
infoPattersonUTI Energy is a mid cap stock with a total market cap of 3.46B.
infoThey trade on the NASDAQ and had their IPO 29 years and 9 months ago.
infoPattersonUTI Energy currently employs 6500 people.
infoAs of Wednesday, Aug 23 2023, PattersonUTI Energy’s share price is $14.23.
News Relating to PattersonUTI Energy
Zacks Investment Research
Patterson-UTI (PTEN) Closes Ulterra Drilling Acquisition Deal
Tuesday Aug 22 2023 at 10:31
Patterson-UTI (PTEN) is set to benefit from Ulterra’s drill bit technology and its cutting-edge data insights as a result of its Ulterra acquisition deal.
Zacks Investment Research
Patterson-UTI (PTEN) Q2 Earnings In Line, Revenues Rise Y/Y
Thursday Aug 03 2023 at 12:46
Patterson-UTI (PTEN) reduces capex to $485 million for second-half 2023, targeting $280 million for contract drilling, $140 million for pressure pumping and $20 million for directional drilling in Q3.
Zacks Investment Research
Patterson-UTI (PTEN) Reports Q2 Earnings: What Key Metrics Have to Say
Wednesday Jul 26 2023 at 22:11
The headline numbers for Patterson-UTI (PTEN) give insight into how the company performed in the quarter ended June 2023, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
Zacks Investment Research
Patterson-UTI (PTEN) Q2 Earnings Meet Estimates
Wednesday Jul 26 2023 at 19:56
Patterson-UTI (PTEN) came out with quarterly earnings of $0.44 per share, in line with the Zacks Consensus Estimate. This compares to earnings of $0.05 per share a year ago.
GuruFocus
The Perfect 10 Portfolio Is Ready to Roll
Monday Jul 10 2023 at 10:21
The phrase “Perfect 10” doesn’t just apply to bathing beauties. It’s the name of one of my favorite hypothetical stock portfolios.
Zacks Investment Research
Patterson-UTI (PTEN) to Buy Ulterra, Strengthen Portfolio
Thursday Jul 06 2023 at 10:06
The acquisition of Ulterra will expand Patterson-UTI’s (PTEN) operational and technology portfolio, strengthening its market presence in drilling and completions.
Accesswire
Patterson-UTI Energy Announces Second Quarter Earnings Conference Call and Webcast
Thursday Jun 29 2023 at 06:00
HOUSTON, TX / ACCESSWIRE / June 29, 2023 / PATTERSON-UTI ENERGY, INC. (NASDAQ:PTEN) will host a conference call on Thursday, July 27, 2023, at 9:00 a.m.
Zacks Investment Research
Patterson-UTI, NexTier Combine to Create Oil Services Giant
Tuesday Jun 20 2023 at 08:01
The current stockholders of Patterson-UTI Energy (PTEN) will own approximately 55% of the combined company, with NexTier Oilfield Solutions (NEX) shareholders owning the rest.
Zacks Investment Research
Strength Seen in Patterson-UTI (PTEN): Can Its 12.1% Jump Turn into More Strength?
Friday Jun 16 2023 at 14:36
Patterson-UTI (PTEN) saw its shares surge in the last session with trading volume being higher than average. The latest trend in earnings estimate revisions could translate into further price increase in the near term.
MarketBeat
Is NexTier-Patterson UTI Deal A Sign Of More Consolidation Ahead?
Friday Jun 16 2023 at 08:01
Shares of Patterson UTI Energy Inc. NASDAQ: PTEN and NexTier Oilfield Solutions NYSE: NEX were both trading higher on June 15 following news that the companies agreed to combine in a merger of equals.
Proactive Investors
Patterson-UTI Energy and NexTier merge to create $5.4B oilfield giant
Thursday Jun 15 2023 at 10:41
Patterson-UTI Energy (NASDAQ:PTEN) and NexTier Oilfield Solutions have agreed to an all-stock merger, according to reports, creating a $5.4 billion oil services company. The deal will see NexTier shareholders receive 0.7520 shares of Patterson-UTI common stock for each share of NexTier common stock owned.
WSJ
Oilfield-Services Companies Hold Merger Talks
Monday Jun 12 2023 at 18:52
NexTier Oilfield Solutions and Patterson-UTI Energy are discussing a deal that would create a bigger player in a consolidating industry.
Zacks Investment Research
3 Well-Positioned Stocks in the Oil & Gas Drilling Industry
Wednesday May 31 2023 at 10:15
With the outlook for energy activity holding up despite some concerns, the Zacks Oil and Gas – Drilling companies like SDRL, PTEN and PDS are worth considering.
Zacks Investment Research
Why Is Patterson-UTI (PTEN) Down 7% Since Last Earnings Report?
Friday May 26 2023 at 12:36
Patterson-UTI (PTEN) reported earnings 30 days ago. What’s next for the stock?
Zacks Investment Research
Patterson UTI (PTEN) Q1 Earnings & Sales Beat Estimates
Monday May 01 2023 at 07:37
Patterson-UTI (PTEN) expects capex of $510 million, Contract Drilling capex of $290 million and Pressure Pumping capex of $150 million for 2023.
GuruFocus
Patterson-UTI and Archer Daniels Midland Hit the Casualty List
Monday Apr 03 2023 at 10:46
Like Brittny Griner, the U.S. basketball star who was imprisoned in Russia last year, stocks are sometimes punished out of all proportion to whatever they did wrong.
Accesswire
Patterson-UTI Energy Announces First Quarter Earnings Conference Call and Webcast
Tuesday Mar 28 2023 at 06:00
HOUSTON, TX / ACCESSWIRE / March 28, 2023 / PATTERSON-UTI ENERGY, INC. (NASDAQ:PTEN) will host a conference call on Thursday, April 27, 2023, at 9:00 a.m.
Zacks Investment Research
Wall Street Analysts See Patterson-UTI (PTEN) as a Buy: Should You Invest?
Friday Mar 24 2023 at 10:41
The average brokerage recommendation (ABR) for Patterson-UTI (PTEN) is equivalent to a Buy. The overly optimistic recommendations of Wall Street analysts make the effectiveness of this highly sought-after metric questionable.
MarketBeat
Helmerich & Payne Stock, A Lot More Upside Than Meets the Eye
Monday Mar 06 2023 at 09:09
China’s economy has woken up from its long COVID slumber. The 12-month trend for one of the most reliable economic activity indicators, the Caixin Manufacturing PMI, has crossed into expansion levels for the first time since.
Zacks Investment Research
Patterson-UTI’s (PTEN) Q4 Earnings & Sales Beat Estimates
Friday Feb 17 2023 at 09:47
Patterson-UTI Energy’s (PTEN) Q4 sales and earnings beat estimates with strong performance across various segments. It also projects a rig count increase and $550 million capex for 2023.
Seeking Alpha
Patterson-UTI Energy’s Services Are In Good Demand
Saturday Feb 11 2023 at 00:48
Oilfield services company Patterson-UTI supplies pressure pumping and contract drilling services. The company’s market capitalization is $3.1 billion, and it pays a 2.2% dividend.
Seeking Alpha
Patterson-UTI Energy, Inc. (PTEN) Q4 2022 Earnings Call Transcript
Thursday Feb 09 2023 at 13:03
Patterson-UTI Energy, Inc. (NASDAQ:PTEN ) Q4 2022 Earnings Conference Call February 9, 2023 10:00 AM ET Company Participants Mike Drickamer – Vice President-Investor Relations Andy Hendricks – Chief Executive Officer Andy Smith – Chief Financial Officer Mike Holcomb – Chief Operating Officer Conference Call Participants Arun Jayaram – JPMorgan Chase Jim Rollyson – Raymond James Scott Gruber – Citigroup Saurabh Pant – Bank of America Kurt Hallead – Benchmark Keith MacKey – RBC Don Crist – Johnson Rice John Daniel – Daniel Energy Partners Derek Podhaizer – Barclays Luke Lemoine – Piper Sandler Operator Good morning. My name is Colby, and I will be your conference operator today.
Zacks Investment Research
Patterson-UTI (PTEN) Tops Q4 Earnings and Revenue Estimates
Wednesday Feb 08 2023 at 19:34
Patterson-UTI (PTEN) delivered earnings and revenue surprises of 6.98% and 3.81%, respectively, for the quarter ended December 2022. Do the numbers hold clues to what lies ahead for the stock?
Schaeffers Research
Energy Stock Flashing Bull Signal Before Earnings
Tuesday Feb 07 2023 at 14:27
Raymond James weighed in on Patterson-UTI Energy, Inc. (NASDAQ:PTEN) today, as trimming its 2023 U.S. rig count forecast to 750 from 813 on lower natural gas prices, citing mild winter conditions and stronger U.S. production growth.
Zacks Investment Research
5 Best High Earnings Yield Picks to Grow Your Wealth
Tuesday Feb 07 2023 at 09:02
Stocks with high earnings yield have the potential to provide greater returns. PTEN, JBL, CPRX, AGCO and URBN are some stocks boasting high earnings yield to power your portfolio.
Zacks Investment Research
Patterson-UTI’s (PTEN) Q4 Earnings: Another Beat in the Cards?
Friday Feb 03 2023 at 08:17
Higher revenues from the Contract Drilling and Pressure Pumping segments are likely to have boosted Patterson-UTI Energy’s (PTEN) fourth-quarter results.
Zacks Investment Research
Patterson-UTI (PTEN) Crossed Above the 20-Day Moving Average: What That Means for Investors
Thursday Jan 26 2023 at 11:19
Is it a good or bad thing when a stock surpasses resistance at the 20-day simple moving average?
Zacks Investment Research
5 Must-Buy Mid-Cap Stocks Poised to Beat Earnings Estimates
Thursday Jan 19 2023 at 09:02
Five mid-cap companies are set to beat earnings estimates this reporting cycle. These are: PTEN, ELF, HP, RGA and JHG.
Zacks Investment Research
Surging Earnings Estimates Signal Upside for Patterson-UTI (PTEN) Stock
Monday Jan 16 2023 at 13:33
Patterson-UTI (PTEN) shares have started gaining and might continue moving higher in the near term, as indicated by solid earnings estimate revisions.
Zacks Investment Research
Patterson-UTI (PTEN) Is Up 0.24% in One Week: What You Should Know
Tuesday Jan 10 2023 at 13:32
Does Patterson-UTI (PTEN) have what it takes to be a top stock pick for momentum investors? Let’s find out.
PattersonUTI Energy Bankruptcy Risk
The Altman Z-score is a formula that measures a company’s financial health and bankruptcy risk. It assigns a numerical score based on various financial ratios. The Z-score is divided into different zones. If the Z-score is above 2.99, it indicates a lower bankruptcy risk, classifying the company as ‘safe’ or ‘non-distressed’. If the score falls below 1.81, it suggests a higher risk, indicating potential financial distress or bankruptcy. The range between 1.81 and 2.99 is called the ‘gray zone’ or zone of ambiguity.
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PattersonUTI Energy’s Altman Z-score is 3.09 which is in the safe zone. This indicates the company is financially stable and less likely to experience financial distress or bankruptcy.
Derived from SEC.GOV filing dataopen_in_new
PattersonUTI Energy Insider Trading
Insider trading is when individuals employed by a company buy or sell its securities following legal procedures and regulations. Company executives, directors, and employees may be permitted to buy or sell shares if they follow specific rules, such as filing a Form 4 with the SEC within two business days.
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Over the last 3 months, 1 insider has sold $136.17K of common stock in PattersonUTI Energy on the stock market with no insider buying.
Derived from SEC.GOV filing dataopen_in_new
Debt & Income Analysis
Income quality measures a company’s operating cash flow to net income ratio. It helps investors and analysts assess the sustainability of a company’s earnings. A high QIR indicates strong cash flows, while a low QIR may indicate non-operating activities driving net income.
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PattersonUTI Energy’s Income Quality of 2.14 is greater than its Industry Group of 1.44 (48.6% greater)
PattersonUTI Energy’s Income Quality of 2.14 is greater than its Major Industry Group of 1.36 (57.4% greater)
PattersonUTI Energy’s Income Quality of 2.14 is greater than its Sector of 1.22 (75.4% greater)
Derived from SEC.GOV filing dataopen_in_new
Current ratio measures a company’s ability to pay off short-term debt with its current assets (assets that a company expects to use up or convert to cash within a year). It represents the $ amount of current assets a company has for every $1 of short-term debt. A high current ratio above 1.0 indicates that a company can meet its short-term obligations, while a low current ratio below 1.0 suggests difficulty.
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PattersonUTI Energy’s Current Ratio of 1.76 is greater than its Industry Group of 1.49 (18.1% greater)
PattersonUTI Energy’s Current Ratio of 1.76 is greater than its Major Industry Group of 1.21 (45.5% greater)
PattersonUTI Energy’s Current Ratio of 1.76 is in line with its Sector of 1.63 (8.0% greater)
Derived from SEC.GOV filing dataopen_in_new
Value Analysis
PE ratio (price-to-earnings), measures a company’s stock price relative to its earnings per share. It helps investors evaluate whether its stock is overvalued or undervalued. A higher PE ratio indicates that investors are willing to pay more for a company’s earnings, while a lower PE ratio (above zero) suggests the company could be undervalued.
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PattersonUTI Energy’s PE Ratio of 9.99 is greater than its Industry Group of 8.05 (24.1% greater)
PattersonUTI Energy’s PE Ratio of 9.99 is greater than its Major Industry Group of 6.49 (53.9% greater)
PattersonUTI Energy’s PE Ratio of 9.99 is greater than its Sector of 5.27 (89.6% greater)
Derived from SEC.GOV filing dataopen_in_new
The PB ratio (price-to-book), measures a company’s stock price relative to its book value (net value of a company’s assets reported on its balance sheet, after subtracting debt) per share. It is used to evaluate a company’s valuation, with a lower PB ratio (above zero) indicating a lower valuation and a higher PB ratio suggesting overvaluation.
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PattersonUTI Energy’s PB Ratio of 2.01 is greater than its Industry Group of 1.5 (34.0% greater)
PattersonUTI Energy’s PB Ratio of 2.01 is greater than its Major Industry Group of 1.36 (47.8% greater)
PattersonUTI Energy’s PB Ratio of 2.01 is greater than its Sector of 1.45 (38.6% greater)
Derived from SEC.GOV filing dataopen_in_new
Efficiency Analysis
ROE (Return on Equity), is a financial ratio that measures a company’s profitability relative to its shareholders’ equity (the amount of value in a company that belongs to the people who own shares). It indicates how efficiently a company generates profits per unit of equity invested. A high ROE suggests effective use of equity, while a low ROE indicates inefficiency.
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PattersonUTI Energy’s ROE of 0.2 is greater than its Industry Group of 0.12 (66.7% greater)
PattersonUTI Energy’s ROE of 0.2 is in line with its Major Industry Group of 0.2
PattersonUTI Energy’s ROE of 0.2 is greater than its Sector of 0.12 (66.7% greater)
Derived from SEC.GOV filing dataopen_in_new
ROCE (Return on Capital Employed), is a financial ratio that measures a company’s profitability relative to the amount of capital invested in its operations. It indicates how well a company is generating profits from its capital investments. A high ROCE suggests effective use of capital, while a low ROCE indicates inefficiency.
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PattersonUTI Energy’s ROCE of 0.07 is in line with its Industry Group of 0.07
PattersonUTI Energy’s ROCE of 0.07 is lower than its Major Industry Group of 0.16 (-56.2% lower)
PattersonUTI Energy’s ROCE of 0.07 is lower than its Sector of 0.08 (-12.5% lower)
Derived from SEC.GOV filing dataopen_in_new