Patterson-UTI Energy (PTEN) Stock Price, News & Analysis

Company Overview

Patterson-UTI Energy, Inc., through its subsidiaries, engages in the provision of contract drilling services to oil and natural gas operators in the United States and internationally. It operates through three segments: Drilling Services, Completion Services, and Drilling Products. The Contract Drilling Services segment provides contract and directional drilling services in onshore oil and natural gas basins, as well as engages in the service and re-certification of equipment for drilling contractors, and provision of electrical controls and automation to the energy, marine and mining industries. The Completion Services segment offers services for hydraulic fracturing, wireline and pumping, completion support, and cementing; and involved in the power solutions natural gas fueling, and logistics and storage businesses. The Drilling Products segment manufactures and distributes drill bits for energy and mining markets. It also provides software and services, such as MWD Survey FDIR, a data analytics technology to analyze MWD survey data in real-time and identify the position of a well; HiFi Nav, which enhances FDIR by targeting improved vertical placement of the directional well within the reservoir; HiFi Guidance, utilizes trajectory optimization to determine optimal steering recommendations and placement within the reservoir; and rents oilfield tools. The company was founded in 1978 and is headquartered in Houston, Texas.

Key Stats

• Today's Range: $7.68 to $7.98
• 50-Day Range: $7.50 to $9.44
• 52-Week Range: $7.45 to $14.26
• Volume: 10.98 million shs
• Average Volume: 6.95 million shs
• Market Capitalization: $3.20 billion
• P/E Ratio: 25.71
• Dividend Yield: 4.02%
• Price Target: $12.54
• Consensus Rating: Moderate Buy

Patterson-UTI Energy Stock Analysis - MarketRank™

Patterson-UTI Energy scored higher than 95% of companies evaluated by MarketBeat, and ranked 19th out of 255 stocks in the oils/energy sector. Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation.

Analyst's Opinion

• Score: 4.4 / 5
• Analyst Rating: Moderate Buy

Consensus Rating

Patterson-UTI Energy has received a consensus rating of Moderate Buy. The company's average rating score is 2.85, and is based on 9 buy ratings, 3 hold ratings, and no sell ratings.

Amount of Analyst Coverage

Patterson-UTI Energy has been the subject of 7 research reports in the past 90 days, demonstrating strong analyst interest in this stock.

Earnings and Valuation

• Score: 3.1 / 5
• Proj. Earnings Growth: 28.57%

Earnings Growth

Earnings for Patterson-UTI Energy are expected to grow by 28.57% in the coming year, from $0.28 to $0.36 per share.

Price to Earnings Ratio vs. the Market

The P/E ratio of Patterson-UTI Energy is 25.71, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 133.32.

Price to Earnings Ratio vs. Sector

The P/E ratio of Patterson-UTI Energy is 25.71, which means that it is trading at a more expensive P/E ratio than the Oils/Energy sector average P/E ratio of about 16.86.

Price to Book Value per Share Ratio

Patterson-UTI Energy has a P/B Ratio of 0.69. P/B Ratios below 1 indicate that a company could be undervalued with respect to its assets and liabilities.

Short Interest

• Score: 1.0 / 5
• Short Interest Level: Bearish

Percentage of Shares Shorted

7.41% of the outstanding shares of Patterson-UTI Energy have been sold short.

Short Interest Ratio / Days to Cover

Patterson-UTI Energy has a short interest ratio ("days to cover") of 4.1.

Change versus previous month

Short interest in Patterson-UTI Energy has recently increased by 12.89%, indicating that investor sentiment is decreasing significantly.

Dividend

• Score: 2.5 / 5
• Dividend Strength: Moderate

Dividend Leadership

Patterson-UTI Energy is a leading dividend payer. It pays a dividend yield of 3.88%, putting its dividend yield in the top 25% of dividend-paying stocks.

Dividend Growth

Patterson-UTI Energy does not have a long track record of dividend growth.

Dividend Coverage

The dividend payout ratio of Patterson-UTI Energy is 47.06%. This payout ratio is at a healthy, sustainable level, below 75%.

Dividend Sustainability

Based on EPS estimates, Patterson-UTI Energy will have a dividend payout ratio of 88.89% in the coming year. This indicates that Patterson-UTI Energy may not be able to sustain their current dividend.

Sustainability and ESG

• Score: 0.0 / 5
• Environmental Score: -6.95

Percentage of Shares Shorted

7.41% of the outstanding shares of Patterson-UTI Energy have been sold short.

Short Interest Ratio / Days to Cover

Patterson-UTI Energy has a short interest ratio ("days to cover") of 4.1.

Change versus previous month

Short interest in Patterson-UTI Energy has recently increased by 12.89%, indicating that investor sentiment is decreasing significantly.

News and Social Media

• Score: 2.3 / 5
• News Sentiment: 0.21

News Sentiment

Patterson-UTI Energy has a news sentiment score of 0.21. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a lower news sentiment than the 0.54 average news sentiment score of Oils/Energy companies.

News Coverage This Week

MarketBeat has tracked 11 news articles for Patterson-UTI Energy this week, compared to 5 articles on an average week.

Search Interest

10 people have searched for PTEN on MarketBeat in the last 30 days. This is an increase of 43% compared to the previous 30 days.

MarketBeat Follows

Only 3 people have added Patterson-UTI Energy to their MarketBeat watchlist in the last 30 days. This is a decrease of 0% compared to the previous 30 days.

Company Ownership

• Score: 1.7 / 5
• Insider Trading: N/A

Insider Buying vs. Insider Selling

In the past three months, Patterson-UTI Energy insiders have not sold or bought any company stock.

Percentage Held by Insiders

Only 2.30% of the stock of Patterson-UTI Energy is held by insiders.

Percentage Held by Institutions

97.91% of the stock of Patterson-UTI Energy is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

PTEN Stock Analysis - Frequently Asked Questions

How have PTEN shares performed this year?

Patterson-UTI Energy's stock was trading at $10.80 at the beginning of 2024. Since then, PTEN stock has decreased by 26.2% and is now trading at $7.97.
View the best growth stocks for 2024 here.

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

Patterson-UTI Energy, Inc. (NASDAQ:PTEN) announced its earnings results on Wednesday, July, 24th. The oil and gas company reported $0.05 earnings per share for the quarter, missing analysts' consensus estimates of $0.09 by $0.04. The oil and gas company earned $1.35 billion during the quarter, compared to analyst estimates of $1.41 billion. Patterson-UTI Energy had a trailing twelve-month return on equity of 4.49% and a net margin of 2.28%.

Does Patterson-UTI Energy have any subsidiaries?

The following companies are subsidiaries of Patterson-UTI Energy: Superior QC, Seventy Seven Energy Inc., Warrior Rig Technologies, TMBR/ Sharp Drilling, Jones Drilling, High Valley Drilling, Wek Drilling, and others.

Who are Patterson-UTI Energy's major shareholders?

Top institutional investors of Patterson-UTI Energy include Wedge Capital Management L L P NC (0.08%), SG Americas Securities LLC (0.04%), Creative Planning (0.03%) and Viking Fund Management LLC (0.03%). Insiders that own company stock include Robert Wayne Drummond Jr, William Andrew Hendricks Jr, James Carl Stewart, Kenneth N Berns, Charles Andrew Smith, James Michael Holcomb, Seth David Wexler and Tiffany Thom Cepak.
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 Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

What other stocks do shareholders of Patterson-UTI Energy own?

Based on aggregate information from My MarketBeat watchlists, some other companies that Patterson-UTI Energy investors own include Humana (HUM), American Water Works (AWK), Invesco QQQ (QQQ), Voyager Therapeutics (VYGR), Waste Connections (WCN), The RMR Group (RMR) and TotalEnergies (TTE).

Company Calendar

• Last Earnings: 7/24/2024
• Ex-Dividend for 9/16 Dividend: 9/03/2024
• Dividend Payable: 9/16/2024
• Today: 10/17/2024
• Next Earnings (Confirmed): 10/24/2024
• Fiscal Year End: 12/31/2024

Industry, Sector and Symbol

• Stock Exchange: NASDAQ
• Sector: Oils/Energy
• Industry: Drilling oil & gas wells
• Sub-Industry: Oil & Gas Drilling
• Current Symbol: NASDAQ:PTEN
• CUSIP: 70348110
• CIK: 889900
• Web: www.patenergy.com
• Phone: (281) 765-7100
• Fax: 281-765-7175
• Employees: 10,600
• Year Founded: 1978

Price Target and Rating

• Average Stock Price Target: $12.54
• High Stock Price Target: $17.00
• Low Stock Price Target: $10.00
• Potential Upside/Downside: +57.4%
• Consensus Rating: Moderate Buy
• Rating Score (0-4): 2.85
• Research Coverage: 13 Analysts

Profitability

• EPS (Most Recent Fiscal Year): $0.68
• Trailing P/E Ratio: 25.71
• Forward P/E Ratio: 28.46
• P/E Growth: N/A
• Net Income: $246.29 million
• Net Margins: 2.28%
• Pretax Margin: 3.48%
• Return on Equity: 4.49%
• Return on Assets: 2.94%

Debt

• Debt-to-Equity Ratio: 0.27
• Current Ratio: 1.50
• Quick Ratio: 1.30

Sales & Book Value

• Annual Sales: $5.45 billion
• Price / Sales: 0.59
• Cash Flow: $2.51 per share
• Price / Cash Flow: 3.17
• Book Value: $11.55 per share
• Price / Book: 0.69

Miscellaneous

• Outstanding Shares: 401,701,000
• Free Float: 384,010,000
• Market Cap: $3.20 billion
• Optionable: Optionable
• Beta: 2.12