CapitalOne initiated coverage on Patterson-UTI with a new price target
$PTEN
Oil & Gas Production
Energy
CapitalOne initiated coverage of Patterson-UTI with a rating of Equal Weight and set a new price target of $14.00
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| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 1/16/2024 | Buy → Hold | The Benchmark Company | |
| 12/19/2023 | $12.00 | Neutral | Goldman |
| 10/17/2023 | $20.00 → $17.00 | Overweight → Equal-Weight | Morgan Stanley |
| 10/16/2023 | $14.00 → $16.00 | Neutral → Buy | BofA Securities |
| 10/9/2023 | $15.00 → $18.00 | Neutral → Buy | Citigroup |
| 9/5/2023 | $19.00 | Buy | Stifel |
| 7/19/2023 | Hold → Buy | The Benchmark Company | |
| 7/10/2023 | $19.00 | Sector Perform → Outperform | RBC Capital Mkts |
The Benchmark Company downgraded Patterson-UTI from Buy to Hold
Goldman initiated coverage of Patterson-UTI with a rating of Neutral and set a new price target of $12.00
Morgan Stanley downgraded Patterson-UTI from Overweight to Equal-Weight and set a new price target of $17.00 from $20.00 previously
4 - PATTERSON UTI ENERGY INC (0000889900) (Issuer)
4 - PATTERSON UTI ENERGY INC (0000889900) (Issuer)
4 - PATTERSON UTI ENERGY INC (0000889900) (Issuer)
HOUSTON, TX / ACCESSWIRE / October 23, 2024 / PATTERSON-UTI ENERGY, INC. (NASDAQ:PTEN) today reported financial results for the quarter ended September 30, 2024.Third Quarter 2024 Financial ResultsTotal revenue of $1.4 billionNet loss attributable to common stockholders of $979 million, or $2.50 per shareIncludes an $885 million goodwill impairment, a $114 million asset retirement charge for rigs we are no longer marketing, and $7 million in merger and integration expensesAdjusted net income attributable to common stockholders of $2 million, or $0.00 per shareExcludes goodwill impairment, asset retirement charge, and merger and integration expensesAdjusted EBITDA of $275 millionExcludes good
HOUSTON, TX / ACCESSWIRE / October 14, 2024 / PATTERSON-UTI ENERGY, INC. (NASDAQ:PTEN) will host a conference call on Thursday, October 24, 2024, at 9:00 a.m. Central Time to discuss results for the third quarter ended September 30, 2024.Participants can access the call by dialing (800) 715-9871 in North America or (646) 307-1963 if International and referencing Conference ID 1337733. The call will also be webcast and can be accessed through a link in the Investors section of the Company's website at investor.patenergy.com. A replay of the conference call will be available on the Company's website for two weeks.About Patterson-UTIPatterson-UTI is a leading provider of drilling and completion
HOUSTON, TX / ACCESSWIRE / July 24, 2024 / PATTERSON-UTI ENERGY, INC. (NASDAQ:PTEN) today reported financial results for the quarter ended June 30, 2024.Second Quarter 2024 Financial ResultsTotal revenue of $1.3 billionNet income attributable to common stockholders of $11 million, or $0.03 per shareIncludes $11 million in merger and integration expensesAdjusted EBITDA of $324 millionExcludes merger and integration expensesOther Key ItemsYear-to-date through June 30, 2024: Cash from Operations of $563 million, Free Cash Flow of $206 millionReturned $164 million to shareholders in the second quarter and $295 million in the first half of the year; confirmed expectation to return at least $400 m
Patterson-UTI Energy (NASDAQ:PTEN) reported quarterly earnings of $0.03 per share which missed the analyst consensus estimate of $0.09 by 66.67 percent. This is a 93.02 percent decrease over earnings of $0.43 per share from the same period last year. The company reported quarterly sales of $1.35 billion which missed the analyst consensus estimate of $1.42 billion by 5.07 percent. This is a 77.63 percent increase over sales of $758.88 million the same period last year.
Stifel analyst Stephen Gengaro maintains Patterson-UTI Energy (NASDAQ:PTEN) with a Buy and lowers the price target from $19 to $16.
B of A Securities analyst Chase Mulvehill maintains Patterson-UTI Energy (NASDAQ:PTEN) with a Buy and lowers the price target from $14 to $12.5.
HOUSTON, TX / ACCESSWIRE / November 5, 2024 / PATTERSON-UTI ENERGY, INC. (NASDAQ:PTEN) today reported that for the month of October 2024, the Company had an average of 105 drilling rigs operating in the United States.Average drilling rigs operating reported in the Company's monthly announcements represent the average number of the Company's drilling rigs that were earning revenue under a drilling contract in the United States. The Company cautioned that numerous factors in addition to average drilling rigs operating can impact the Company's operating results and that a particular trend in the number of drilling rigs operating may or may not indicate a trend in or be indicative of the Company
HOUSTON, TX / ACCESSWIRE / October 23, 2024 / PATTERSON-UTI ENERGY, INC. (NASDAQ:PTEN) today reported financial results for the quarter ended September 30, 2024.Third Quarter 2024 Financial ResultsTotal revenue of $1.4 billionNet loss attributable to common stockholders of $979 million, or $2.50 per shareIncludes an $885 million goodwill impairment, a $114 million asset retirement charge for rigs we are no longer marketing, and $7 million in merger and integration expensesAdjusted net income attributable to common stockholders of $2 million, or $0.00 per shareExcludes goodwill impairment, asset retirement charge, and merger and integration expensesAdjusted EBITDA of $275 millionExcludes good
HOUSTON, TX / ACCESSWIRE / October 14, 2024 / PATTERSON-UTI ENERGY, INC. (NASDAQ:PTEN) will host a conference call on Thursday, October 24, 2024, at 9:00 a.m. Central Time to discuss results for the third quarter ended September 30, 2024.Participants can access the call by dialing (800) 715-9871 in North America or (646) 307-1963 if International and referencing Conference ID 1337733. The call will also be webcast and can be accessed through a link in the Investors section of the Company's website at investor.patenergy.com. A replay of the conference call will be available on the Company's website for two weeks.About Patterson-UTIPatterson-UTI is a leading provider of drilling and completion
10-Q - PATTERSON UTI ENERGY INC (0000889900) (Filer)
8-K - PATTERSON UTI ENERGY INC (0000889900) (Filer)
8-K - PATTERSON UTI ENERGY INC (0000889900) (Filer)
SC 13G/A - PATTERSON UTI ENERGY INC (0000889900) (Subject)
SC 13G/A - PATTERSON UTI ENERGY INC (0000889900) (Subject)
SC 13G/A - PATTERSON UTI ENERGY INC (0000889900) (Subject)
HOUSTON , TX / ACCESSWIRE / April 1, 2022 / PATTERSON-UTI ENERGY, INC (NASDAQ:PTEN) today announced that Julie J. Robertson and Cesar Jaime have been appointed to the Company's Board of Directors. With these appointments, the Patterson-UTI Board has been expanded to eight members.Ms. Robertson has more than 40 years of operational, executive, administrative and human resource experience at one of the world's largest offshore drilling companies, including having served as its Executive Chair, Chair of the Board, President and Chief Executive Officer.Mr. Jaime has 30 years of experience in international oil field services in Latin America, Europe and Africa for the largest international oil fi