Patterson-UTI Energy (PTEN) Stock Forecast & Price Target

$8.39 -0.31 (-3.56%)

(As of 11/12/2024 ET)

Patterson-UTI Energy - Analysts' Recommendations and Stock Price Forecast (2024)

MarketBeat calculates consensus analyst ratings for stocks using the most recent rating from each Wall Street analyst that has rated a stock within the last twelve months. Each analyst's rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Analyst consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings from Wall Street analysts. Each stock's consensus analyst rating is derived from its calculated consensus ratings score (0 to .5 = Strong Sell, .5 to 1 = Sell, 1 to 1.5 = Reduce, 1.5 to 2.5 = Hold, 2.5 to 3.0 = Moderate Buy, 3.0 to 3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.

Consensus Rating

Moderate Buy

Based on 13 Analyst Ratings

Sell
0

Hold
3

Buy
10

Based on 13 Wall Street analysts who have issued ratings for Patterson-UTI Energy in the last 12 months, the stock has a consensus rating of "Moderate Buy." Out of the 13 analysts, 3 have given a hold rating, 9 have given a buy rating, and 1 has given a strong buy rating for PTEN.

Consensus Price Target

$11.88
41.54% Upside

According to the 13 analysts' twelve-month price targets for Patterson-UTI Energy, the average price target is $11.88. The highest price target for PTEN is $17.00, while the lowest price target for PTEN is $10.00. The average price target represents a forecasted upside of 41.54% from the current price of $8.39.

PTEN Analyst Ratings Over Time

Type	Current Forecast 11/14/23 to 11/13/24	1 Month Ago 10/15/23 to 10/14/24	3 Months Ago 8/16/23 to 8/15/24	1 Year Ago 11/14/22 to 11/14/23
Strong Buy	1 Strong Buy rating(s)	1 Strong Buy rating(s)	1 Strong Buy rating(s)	1 Strong Buy rating(s)
Buy	9 Buy rating(s)	9 Buy rating(s)	8 Buy rating(s)	8 Buy rating(s)
Hold	3 Hold rating(s)	3 Hold rating(s)	3 Hold rating(s)	2 Hold rating(s)
Sell	0 Sell rating(s)	0 Sell rating(s)	0 Sell rating(s)	0 Sell rating(s)
Consensus Price Target	$11.88	$12.71	$14.77	$17.30
Forecasted Upside	41.54% Upside	54.04% Upside	63.60% Upside	42.15% Upside
Consensus Rating	Moderate Buy	Moderate Buy	Moderate Buy	Moderate Buy

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PTEN Analyst Recommendations By Month

The chart below shows how a company's ratings by analysts have changed over time. Each bar represents the previous year of ratings for that month. Within each bar, the sell ratings are shown in red, the hold ratings are shown in yellow, the buy ratings are shown in green, and the strong buy ratings are shown in dark green.

PTEN Price Targets by Month

The chart below shows how a company's share price and consensus price target have changed over time. The dark blue line represents the company's actual price. The lighter blue line represents the stock's consensus price target. The even lighter blue range in the background of the two lines represents the low price target and the high price target for each stock.

Patterson-UTI Energy Stock vs. The Competition

Type	Patterson-UTI Energy	Oils/Energy Companies	S&P 500
Consensus Rating Score	2.85	2.63	2.50
Consensus Rating	Moderate Buy	Moderate Buy	Hold
Predicted Upside	41.54% Upside	1,358.04% Upside	7.92% Upside
News Sentiment Rating	Positive News See Recent PTEN News	Positive News	Positive News

Recent Analyst Forecasts and Stock Ratings

Rating

Upside/Downside

Action

Time Frame

Start Date

End Date

Show

Export to Excel

Date	Brokerage	Analyst Name	Action	Rating	Price Target	Upside/Downside on Report Date
10/31/2024	Citigroup 3 of 5 stars		Lower Target	Buy ➝ Buy	$11.00 ➝ $10.00	+30.38%
10/25/2024	Raymond James 4 of 5 stars		Lower Target	Strong-Buy ➝ Strong-Buy	$12.00 ➝ $11.00	+36.48%
10/25/2024	Royal Bank of Canada 4 of 5 stars		Lower Target	Outperform ➝ Outperform	$12.00 ➝ $11.00	+36.48%
10/16/2024	Barclays Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Overweight ➝ Overweight	$14.00 ➝ $12.00	+49.25%
10/11/2024	Stifel Nicolaus Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Buy ➝ Buy	$15.00 ➝ $14.00	+71.57%
10/11/2024	Susquehanna Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Positive ➝ Positive	$13.00 ➝ $10.00	+23.92%
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9/16/2024	Morgan Stanley Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Equal Weight ➝ Equal Weight	$12.00 ➝ $10.00	+23.30%
9/4/2024	ATB Capital Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Outperform ➝ Outperform	$12.00 ➝ $11.00	+25.86%
7/15/2024	Bank of America Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Buy ➝ Buy	$14.00 ➝ $12.50	+19.39%
7/15/2024	Piper Sandler Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Overweight ➝ Overweight	$14.00 ➝ $12.00	+17.07%
5/6/2024	Benchmark Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Hold
5/3/2024	Evercore ISI Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Outperform ➝ Outperform	$18.00 ➝ $17.00	+60.08%
12/19/2023	The Goldman Sachs Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Initiated Coverage	Neutral	$12.00	+8.70%
6/28/2023	Capital One Financial Subscribe to MarketBeat All Access for the recommendation accuracy rating	D. Becker Subscribe to MarketBeat All Access for the recommendation accuracy rating	Initiated Coverage	Equal Weight	$14.00	+18.24%

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Wednesday at 03:49 AM ET.

PTEN Forecast - Frequently Asked Questions

: According to the research reports of 13 Wall Street equities research analysts, the average twelve-month stock price forecast for Patterson-UTI Energy is $11.88, with a high forecast of $17.00 and a low forecast of $10.00.
: 13 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Patterson-UTI Energy in the last twelve months. There are currently 3 hold ratings, 9 buy ratings and 1 strong buy rating for the stock. The consensus among Wall Street research analysts is that investors should "moderate buy" PTEN shares.
: According to analysts, Patterson-UTI Energy's stock has a predicted upside of 41.54% based on their 12-month stock forecasts.
: Patterson-UTI Energy has been rated by research analysts at ATB Capital, Barclays, Citigroup, Morgan Stanley, Raymond James, Royal Bank of Canada, Stifel Nicolaus, and Susquehanna in the past 90 days.
: Analysts like Patterson-UTI Energy more than other "oils/energy" companies. The consensus rating score for Patterson-UTI Energy is 2.85 while the average consensus rating score for "oils/energy" companies is 2.63. Learn more on how PTEN compares to other companies.

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This page (NASDAQ:PTEN) was last updated on 11/13/2024 by MarketBeat.com Staff

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Patterson-UTI Energy (PTEN) Stock Forecast & Price Target