4 analysts have expressed a variety of opinions on Patterson-UTI Energy (NASDAQ:PTEN) over the past quarter, offering a diverse set of opinions from bullish to bearish.
The table below summarizes their recent ratings, showcasing the evolving sentiments within the past 30 days and comparing them to the preceding months.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 1 | 3 | 0 | 0 | 0 |
| Last 30D | 0 | 1 | 0 | 0 | 0 |
| 1M Ago | 0 | 0 | 0 | 0 | 0 |
| 2M Ago | 0 | 0 | 0 | 0 | 0 |
| 3M Ago | 1 | 2 | 0 | 0 | 0 |
Analysts' evaluations of 12-month price targets offer additional insights, showcasing an average target of $14.5, with a high estimate of $17.00 and a low estimate of $13.00. Observing a downward trend, the current average is 8.69% lower than the prior average price target of $15.88.
Analyzing Analyst Ratings: A Detailed Breakdown
In examining recent analyst actions, we gain insights into how financial experts perceive Patterson-UTI Energy. The following summary outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
| Analyst | Analyst Firm | Action Taken | Rating | Current Price Target | Prior Price Target |
|---|---|---|---|---|---|
| Charles Minervino | Susquehanna | Lowers | Positive | $13.00 | $14.00 |
| Luke Lemoine | Piper Sandler | Lowers | Overweight | $14.00 | $17.00 |
| Jason Bandel | Evercore ISI Group | Lowers | Outperform | $17.00 | $18.00 |
| Chase Mulvehill | B of A Securities | Lowers | Buy | $14.00 | $14.50 |
Key Insights:
- Action Taken: Analysts adapt their recommendations to changing market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their response to recent developments related to Patterson-UTI Energy. This information provides a snapshot of how analysts perceive the current state of the company.
- Rating: Unveiling insights, analysts deliver qualitative insights into stock performance, from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Patterson-UTI Energy compared to the broader market.
- Price Targets: Understanding forecasts, analysts offer estimates for Patterson-UTI Energy's future value. Examining the current and prior targets provides insight into analysts' changing expectations.
Considering these analyst evaluations in conjunction with other financial indicators can offer a comprehensive understanding of Patterson-UTI Energy's market position. Stay informed and make well-informed decisions with our Ratings Table.
Stay up to date on Patterson-UTI Energy analyst ratings.
Unveiling the Story Behind Patterson-UTI Energy
Patterson-UTI Energy is one of the largest land rig drilling contractors in the United States. Its 2023 merger with NexTier greatly expanded its pressure pumping operations, as well, and the firm now controls nearly 20% of the North American market for drilling and completions services. It also provides directional drilling services and tool rental services in most US onshore oil and gas basins.
Patterson-UTI Energy: Delving into Financials
Market Capitalization: Boasting an elevated market capitalization, the company surpasses industry averages. This signals substantial size and strong market recognition.
Revenue Growth: Patterson-UTI Energy's revenue growth over a period of 3 months has been noteworthy. As of 31 March, 2024, the company achieved a revenue growth rate of approximately 90.75%. This indicates a substantial increase in the company's top-line earnings. As compared to competitors, the company surpassed expectations with a growth rate higher than the average among peers in the Energy sector.
Net Margin: The company's net margin is below industry benchmarks, signaling potential difficulties in achieving strong profitability. With a net margin of 3.39%, the company may need to address challenges in effective cost control.
Return on Equity (ROE): The company's ROE is a standout performer, exceeding industry averages. With an impressive ROE of 1.07%, the company showcases effective utilization of equity capital.
Return on Assets (ROA): The company's ROA is a standout performer, exceeding industry averages. With an impressive ROA of 0.7%, the company showcases effective utilization of assets.
Debt Management: Patterson-UTI Energy's debt-to-equity ratio is below the industry average at 0.28, reflecting a lower dependency on debt financing and a more conservative financial approach.
The Core of Analyst Ratings: What Every Investor Should Know
Experts in banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their comprehensive research involves attending company conference calls and meetings, analyzing financial statements, and engaging with insiders to generate what are known as analyst ratings for stocks. Typically, analysts assess and rate each stock once per quarter.
Analysts may supplement their ratings with predictions for metrics like growth estimates, earnings, and revenue, offering investors a more comprehensive outlook. However, investors should be mindful that analysts, like any human, can have subjective perspectives influencing their forecasts.
This article was generated by Benzinga's automated content engine and reviewed by an editor.