Patterson UTI Energy Inc (PTEN) Share Price

Helium becoming rare and oil going Boom

PT > $21.00 share > Morgan Stanley Maintains Overweight on Patterson-UTI Energy, Raises Price Target to $21
7:56 am ET September 26, 2022
Morgan Stanley analyst Connor Lynagh maintains Patterson-UTI Energy (NASDAQ:PTEN) with a Overweight and raises the price target from $19 to $21.

Latest Ratings for PTEN DateFirmActionFromTo

Feb 2022Piper SandlerMaintainsOverweight Feb 2022CitigroupMaintainsBuy Feb 2022JP MorganMaintainsUnderweight

View More Analyst Ratings for PTEN

View the Latest Analyst Ratings

I will do my own research but just curious if anyone on here has been following this company closely? I'm debating on whether to sell our few shares we have. Originally had bought Pioneer Energy services but after the merger we don't have very many shares in Patterson and the price of this stock would have to increase tremendously for us to break even so it might be better to just take the tax loss and don't look back. Lesson learned.

News: $PTEN Patterson-UTI Reports Drilling Activity for November 2019

HOUSTON , Dec. 4, 2019 /PRNewswire/ --  PATTERSON-UTI ENERGY, INC. (NASDAQ: PTEN) today reported that for the month of November 2019 , the Company had an average of 119 drilling rigs operating.  For the two months ended November 30, 2019 , the Company had an average of 1...

Read the whole news PTEN - Patterson-UTI Reports Drilling Activity for November 2019

$PTEN recent news/filings

bullish 17.91

## source: finance.yahoo.com

$PTEN charts

basic chart ## source: stockcharts.com



basic chart ## source: stockscores.com



big daily chart ## source: stockcharts.com



big weekly chart ## source: stockcharts.com



$PTEN company information

## source: otcmarkets.com

Link: http://www.otcmarkets.com/stock/PTEN/company-info
Ticker: $PTEN
OTC Market Place: Not Available
CIK code: 0000889900
Company name: Patterson-UTI Energy, Inc.
Incorporated In: DE, USA

$PTEN share structure

## source: otcmarkets.com

Market Value: $2,635,989,806 a/o Mar 11, 2016
Shares Outstanding: 147,179,777 a/o Feb 04, 2016
Float: Not Available
Authorized Shares: Not Available
Par Value: 0.01

$PTEN extra dd links

Company name: Patterson-UTI Energy, Inc.
## STOCK DETAILS ##
After Hours Quote (nasdaq.com): http://www.nasdaq.com/symbol/PTEN/after-hours
Option Chain (nasdaq.com): http://www.nasdaq.com/symbol/PTEN/option-chain
Historical Prices (yahoo.com): http://finance.yahoo.com/q/hp?s=PTEN+Historical+Prices
Company Profile (yahoo.com): http://finance.yahoo.com/q/pr?s=PTEN+Profile
Industry (yahoo.com): http://finance.yahoo.com/q/in?s=PTEN+Industry

## COMPANY NEWS ##
Market Stream (nasdaq.com): http://www.nasdaq.com/symbol/PTEN/stream
Latest news (otcmarkets.com): http://www.otcmarkets.com/stock/PTEN/news - http://finance.yahoo.com/q/h?s=PTEN+Headlines

## STOCK ANALYSIS ##
Analyst Research (nasdaq.com): http://www.nasdaq.com/symbol/PTEN/analyst-research
Guru Analysis (nasdaq.com): http://www.nasdaq.com/symbol/PTEN/guru-analysis
Stock Report (nasdaq.com): http://www.nasdaq.com/symbol/PTEN/stock-report
Competitors (nasdaq.com): http://www.nasdaq.com/symbol/PTEN/competitors
Stock Consultant (nasdaq.com): http://www.nasdaq.com/symbol/PTEN/stock-consultant
Stock Comparison (nasdaq.com): http://www.nasdaq.com/symbol/PTEN/stock-comparison
Investopedia (investopedia.com): http://www.investopedia.com/markets/stocks/PTEN/?wa=0
Research Reports (otcmarkets.com): http://www.otcmarkets.com/stock/PTEN/research
Basic Tech. Analysis (yahoo.com): http://finance.yahoo.com/q/ta?s=PTEN+Basic+Tech.+Analysis
Barchart (barchart.com): http://www.barchart.com/quotes/stocks/PTEN
DTCC (dtcc.com): http://search2.dtcc.com/?q=Patterson-UTI+Energy%2C+Inc.&x=10&y=8&sp_p=all&sp_f=ISO-8859-1
Spoke company information (spoke.com): http://www.spoke.com/search?utf8=%E2%9C%93&q=Patterson-UTI+Energy%2C+Inc.
Corporation WIKI (corporationwiki.com): http://www.corporationwiki.com/search/results?term=Patterson-UTI+Energy%2C+Inc.&x=0&y=0

## FUNDAMENTALS ##
Call Transcripts (nasdaq.com): http://www.nasdaq.com/symbol/PTEN/call-transcripts
Annual Report (companyspotlight.com): http://www.companyspotlight.com/library/companies/keyword/PTEN
Income Statement (nasdaq.com): http://www.nasdaq.com/symbol/PTEN/financials?query=income-statement
Revenue/EPS (nasdaq.com): http://www.nasdaq.com/symbol/PTEN/revenue-eps
SEC Filings (nasdaq.com): http://www.nasdaq.com/symbol/PTEN/sec-filings
Edgar filings (sec.gov): http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0000889900&owner=exclude&count=40
Latest filings (otcmarkets.com): http://www.otcmarkets.com/stock/PTEN/filings
Latest financials (otcmarkets.com): http://www.otcmarkets.com/stock/PTEN/financials
Short Interest (nasdaq.com): http://www.nasdaq.com/symbol/PTEN/short-interest
Dividend History (nasdaq.com): http://www.nasdaq.com/symbol/PTEN/dividend-history
RegSho (regsho.com): http://www.regsho.com/tools/symbol_stats.php?sym=PTEN&search=search
OTC Short Report (otcshortreport.com): http://otcshortreport.com/index.php?index=PTEN
Short Sales (otcmarkets.com): http://www.otcmarkets.com/stock/PTEN/short-sales
Key Statistics (yahoo.com): http://finance.yahoo.com/q/ks?s=PTEN+Key+Statistics
Insider Roster (yahoo.com): http://finance.yahoo.com/q/ir?s=PTEN+Insider+Roster
Income Statement (yahoo.com): http://finance.yahoo.com/q/is?s=PTEN
Balance Sheet (yahoo.com): http://finance.yahoo.com/q/bs?s=PTEN
Cash Flow (yahoo.com): http://finance.yahoo.com/q/cf?s=PTEN+Cash+Flow&annual

## HOLDINGS ##
Major holdings (cnbc.com): http://data.cnbc.com/quotes/PTEN/tab/8.1
Insider transactions (yahoo.com): http://finance.yahoo.com/q/it?s=PTEN+Insider+Transactions
Insider transactions (secform4.com): http://www.secform4.com/insider-trading/PTEN.htm
Insider transactions (insidercrow.com): http://www.insidercow.com/history/company.jsp?company=PTEN
Ownership Summary (nasdaq.com): http://www.nasdaq.com/symbol/PTEN/ownership-summary
Institutional Holdings (nasdaq.com): http://www.nasdaq.com/symbol/PTEN/institutional-holdings
Insiders (SEC Form 4) (nasdaq.com): http://www.nasdaq.com/symbol/PTEN/insider-trades
Insider Disclosure (otcmarkets.com): http://www.otcmarkets.com/stock/PTEN/insider-transactions

## SOCIAL MEDIA AND OTHER VARIOUS SOURCES ##
PST (pennystocktweets.com): http://www.pennystocktweets.com/stocks/profile/PTEN
Market Watch (marketwatch.com): http://www.marketwatch.com/investing/stock/PTEN
Bloomberg (bloomberg.com): http://www.bloomberg.com/quote/PTEN:US
Morningstar (morningstar.com): http://quotes.morningstar.com/stock/s?t=PTEN
Bussinessweek (businessweek.com): http://investing.businessweek.com/research/stocks/snapshot/snapshot_article.asp?ticker=PTEN



$PTEN DD Notes ~ http://www.ddnotesmaker.com/PTEN

By transforming its asset portfolio, Patterson-UTI has prepared itself well for the current downcycle.

The underlying asset value has substantial upside defined by equipment replacement cost.

However, for such a scenario to materialize, one needs to assume a material improvement in oil price, substantially above what is suggested by the current futures curve.

Ultimately, the greatest risk is the duration of the downcycle. In the event the commodity price trough lasts several years, the stock price recovering to a level corresponding to replacement cost economics may represent only a moderate return relative to the stock's risk.

Patterson-UTI Energy's (NASDAQ:PTEN) second quarter results vividly demonstrated that the company succeeded in re-positioning its business from the commodity segment in Drilling to the premium segments in both Drilling and Pressure Pumping.

Rig counts are stabilizing.

What happened here?Down over a buck the last 2 days.

The firm says its initial 2017 EPS estimates for North American land drillers are generally higher than consensus, and believes the Street underestimates the magnitude of the North American recovery and that valuations are reasonable "when looking through the near term noise."

I think it is well positioned but I would not discount further downside in the OFS segment.

With news out tomorrow, I think so too!

Patterson-UTI Energy (NASDAQ:PTEN), Precision Drilling (NYSE:PDS) and Nabors Industries (NYSE:NBR) are the best bets among oilfield services stocks, RBC analysts say.

"Turning now to the first quarter. As set forth in our earnings press release issued this morning, we reported net income of $9.1 million, or $0.06 per share. The financial result for the three months ended March 31, 2015 include a pre-tax non-cash charge of $3.4 million related to the impairment of certain oil and natural gas properties.

And a $12.3 million charge which is included in selling, general and administrative expenses and is related to our settlement with the EOC."

Patterson-UTI Energy's (PTEN) CEO Andy Hendricks on Q1 2015 Results - Earnings Call Transcript $PTEN
http://www.seekingalpha.com/article/3096196

Thank you. Looks like first major support is just above 20.00 on this one. Playing connect the dots is not always effective though.

In my intuition, the most attractive segment of Patterson-UTI's stock price trajectory is already behind us.

While the current valuation leaves room for upside, the downside can also be significant and may be driven by the potential confluence of the industry's aggressive capacity additions and a quick inflection in demand for rigs due to weaker oil prices and improving rig productivity.

$PTEN At a 5.1x multiple of 2014E EBITDA, Patterson-UTI shares may appear attractively priced, given the significant unsatisfied demand for new-generation equipment.

Look at these beauties! Brand new state of the art Mavericks going to the Northern Divisions. https://www.facebook.com/righands/photos/a.327154070693901.73438.324871614255480/703451913064113/?type=1&theater

Patterson-UTI (PTEN +2%) is higher on news of a deal with an unidentified privately-held company to acquire pressure pumping operations in east Texas, including 31.5K horsepower of hydraulic fracturing equipment.

~ $PTEN ~ Earnings posted, pending or coming soon! In Charts and Links Below!

~ $PTEN ~ Earnings expected on Thursday *
This Week In Earnings: Earnings are coming or are already posted! This is what the charts look like! If you play the earnings these posts can be very helpful to you!
Want more like this? Search Keyword: MACMONEY >>> http://tinyurl.com/MACMONEY <<<
One or more of many earnings sites has alerted this security has or will be posting earnings on or around the day of this message.








http://stockcharts.com/h-sc/ui?s=PTEN&p=D&b=3&g=0&id=p88783918276&a=237480049




http://stockcharts.com/h-sc/ui?s=PTEN&p=W&b=3&g=0&id=p54550695994



~ Barchart: http://barchart.com/quotes/stocks/PTEN?
~ OTC Markets: http://www.otcmarkets.com/stock/PTEN/company-info
~ Google Finance: http://www.google.com/finance?q=PTEN
~ Google Fin Options: hhttp://www.google.com/finance/option_chain?q=PTEN#
~ Yahoo! Finance ~ Stats: http://finance.yahoo.com/q/ks?s=PTEN+Key+Statistics
~ Yahoo! Finance ~ Profile: http://finance.yahoo.com/q/pr?s=PTEN
Finviz: http://finviz.com/quote.ashx?t=PTEN
~ BusyStock: http://busystock.com/i.php?s=PTEN&v=2
~ CandlestickChart: http://www.candlestickchart.com/cgi/chart.cgi?symbol=PTEN&exchange=US
~ Investorshub Trades: http://ih.advfn.com/p.php?pid=trades&symbol=PTEN
~ Investorshub Board Search: http://investorshub.advfn.com/boards/getboards.aspx?searchstr=PTEN
~ Investorshub PostStream Search: http://investorshub.advfn.com/boards/poststream.aspx?ticker=PTEN
~ Investorshub Goodies Search: http://investorshub.advfn.com/boards/msgsearchbyboard.aspx?boardID=18582&srchyr=2011&SearchStr=PTEN
~ Investorshub Message Search: http://investorshub.advfn.com/boards/msgsearch.aspx?SearchStr=PTEN
~ MarketWatch: http://www.marketwatch.com/investing/stock/PTEN/profile
~ E-Zone Chart: http://www.windchart.com/ezone/signals/?symbol=PTEN
~ 5-Min Wind: http://www.windchart.com/stockta/analysis?symbol=PTEN
~ 10-Min Wind: http://www.windchart.com/stockta/analysis?symbol=PTEN&size=l&frequency=10&color=g
~ 30-Min Wind: http://www.windchart.com/stockta/analysis?symbol=PTEN&size=l&frequency=30&color=g
~ 60-Min Wind: http://www.windchart.com/stockta/analysis?symbol=PTEN&size=l&frequency=60&color=g


http://investorshub.advfn.com/boards/post_prvt.aspx?user=251916

*If the earnings date is in error please ignore error. I do my best.

Steady bouncing and riding the 10MA here as it has been steady support. That 20.10 break and hold would be nice to see.

Flex

I am waiting at 16 to take in some, I have traded this for 7 yrs. It has been a benefit to my portfolio.

Flex

$19.60 should've held and is now acting as temporary resistance. I wouldn't be so gun ho until this level is taken out to the upside. Remember, they lost a rig recently and they report next week. The rig loss should have a negative affect on earnings going forward (until it is replaced), IMO!

Add PTEN dips here always, this stock has been good to me for years.

Flex

A gem in the rough...where is everybody? Are we putting in a double bottom here?

Top energy pick?


Another hidden gem in oil-field services is Patterson-UTI Energy, Inc. (PTEN - Analyst Report), a North American on-shore drilling services company with a market cap of $4.9 billion. This company has the best of both worlds, a good valuation and bullish growth projection of 14%. With an average earnings surprise of 34% over the last four quarters, PTEN is on a roll.

Yeah I can see the patterns over all. This one is going to get a lot stronger in the coming months. Over the last week Baker Hughes Inc. (BHI) reported a rise in the U.S. rig count (number of rigs searching for oil and gas in the country), primarily reflecting an increase in the inland water rig count.

The Baker Hughes rig counts, issued since 1944, act as an important yardstick for drilling contractors like Transocean Inc. (RIG), Diamond Offshore (DO), Noble Corp. (NE), Pride International (PDE), Nabors Industries (NBR), Patterson-UTI Energy (PTEN)and Helmerich & Payne (HP) in gauging the overall business environment of the oil and gas industry.

Rigs exploration and production in the U.S. totaled 1,685 for the week ended November 12, 2010. This is up by 2 rigs from the previous week’s rig count and represents the highest level achieved this year. The current nation-wide rig count is 92% higher than the 2009 low of 876 (set in the week ended June 12, 2009) and significantly exceeding the prior-year level of 1,101. It rose to a 22-year high in 2008, peaking to 2,031 in the weeks ending August 29 and September 12.

Rigs engaged in inland waters climbed by 2 rigs to 20, while land operations and offshore activity remained steady at 1,642 and 23, respectively.

The natural gas rig count, which has fallen three times in the last five weeks, remained unchanged from the previous week at 955. The current number of gas-directed rigs is just 37 short of an 18-month high reached during mid-August rebounding strongly after bottoming out to a 7-year low of 665 on July 17, 2009. Still, the rig count remains 41% below its peak of 1,606 in late summer 2008. In the year-ago period, there were 728 active natural gas rigs.

The oil rig count was up by 2 rigs to 720, the 14th gain in the last 17 weeks. The current tally is considerably higher than the previous year’s rig count of 361. It has recovered nicely from a low of 179 in June 2009, more than quadrupling in number.

The miscellaneous rig count (primarily drilling for geothermal energy) at 10 remained unchanged from the previous week.

The number of vertical drilling rigs was up 14 to 536, while the horizontal/directional rig count (encompassing new drilling technology that has the ability to drill and extract gas from dense rock formations, also known as shale formations) fell by 12 to 1,149.

Mirrors The SPY, Might Buy Dec Puts../

Was hoping it would pull back more so I can cycle my position some more but today almost looks like it is bouncing back already. What do you think?

The shorts will really start covering heavy near end of 4th quarter due to increased energy prices. Now is the time to consider getting a position IMO.

Sounds Good To Me...Looks Like It Was About To Bleed Out. Might Be some short positions that need covering. That will help us move up...

enjoy gl

I am very bullish short to mid term with PTEN. We have been accumulating since the beginning of the year and believe this has $25-35 potential next year again.

Shortie Might Need To Cover On This..On Watch.../

Sweet...thxs

3rd quarter management comments:

Douglas J. Wall, Patterson-UTI's Chief Executive Officer, stated, "Our average number of rigs operating in the third quarter increased to 178 rigs, including 170 in the United States and 8 in Canada. This compares to an average of 156 rigs operating in the second quarter, including 154 in the United States and 2 in Canada. Reduced Canadian drilling activity in the second quarter was a result of the annual spring breakup."

Mr. Wall added, "Average revenue per operating day for the third quarter of 2010 increased by $810 to $17,730, compared to $16,920 for the second quarter of 2010. Average direct operating costs per operating day for the third quarter of 2010 increased to $10,670 from $10,520 for the second quarter of 2010. Average margin per operating day for the third quarter of 2010 increased by $670 to $7,060 from $6,390 for the second quarter of 2010.

"We are continuing to see increases in our rig count. We estimate that our October rig count will increase to an average of 192 rigs operating, comprised of 180 in the United States and 12 in Canada. Our average number of rigs operating in the United States has increased by 72 since December 2009. Dayrates have also been continuing to increase with rig demand.

"During the third quarter of 2010 we had an average of approximately 54 rigs operating under long-term contracts. Based on contracts currently in place, we expect to have an average of approximately 68 rigs during the fourth quarter of 2010 and 65 rigs during 2011 operating under long-term contracts.

"We activated five new Apex™ rigs during the third quarter, bringing our total to 12 new Apex™ rigs activated during the first three quarters of 2010. In October, three new additional Apex™ rigs were activated, and we now expect to activate a total of 21 new Apex™ rigs in calendar year 2010, with two additional new Apex ™ rigs from the 2010 program being activated in early 2011. All of these rigs are covered by term contracts. For our 2011 Apex™ program, we are planning to add 21 new Apex™ rigs.

"This quarter's results also reflect record revenues and profits for Universal Well Services, Inc., our pressure pumping subsidiary that services the Appalachian region. These results reflect the efficient deployment of new equipment for the Marcellus Shale, an increase in activity levels in other traditional work, as well as increased pricing," he concluded.

Mark S. Siegel, Chairman of Patterson-UTI, stated, "We have recently completed acquisition and financing transactions in furtherance of our strategic objectives to build value for shareholders and expand our core businesses. Earlier this month, we completed the acquisition of pressure pumping and wireline assets for approximately $238 million in an all cash transaction; entered into a new bank facility that includes a $400 million revolving credit line and a four-year $100 million term loan; and completed a private placement of $300 million in principal amount of ten-year, senior unsecured notes with an interest rate of 4.97%."

Mr. Siegel further stated, "With the acquisition, our pressure pumping businesses now operate throughout Texas and the Appalachian region, with a substantial amount of the services being provided in the Barnett, Eagle Ford and Marcellus Shales as well as the Permian Basin. Our pressure pumping equipment now totals approximately 431,000 horsepower, including 340,000 fracturing horsepower and 91,000 horsepower used in cementing, acidizing and nitrogen stimulation. In addition, approximately 38,000 horsepower of pressure pumping equipment is currently on order and expected to be delivered over the next five months. For 2011, we are evaluating how much additional pressure pumping equipment to order. We also now have a fleet of 26 wireline units.

"The financings provide us with substantial flexibility to strategically continue with the expansion of our fleets with new technology drilling rigs and pressure pumping equipment to service the growing shale markets," he concluded.

3rd quarter financial results:

The Company reported net income of $63.1 million, or $0.41 per share, for the nine months ended September 30, 2010, compared to a net loss of $20.1 million, or a loss of $0.13 per share, for the comparable nine month period in 2009. Revenues for the nine months ended September 30, 2010 were $957 million, compared to $568 million for the same nine month period in 2009.

The financial results for the three and nine months ended September 30, 2010 include pretax interest expense charges of $4.6 million ($2.9 million after-tax) from the recognition of deferred financing costs associated with the expiration of a standby bridge credit facility and the refinancing of a revolving credit facility. The financial results for the nine month period ended September 30, 2010 also include an after-tax gain of $12.9 million from the sale of certain rights in oil and gas working interests during the second quarter of 2010. These transactions reduced net income per share by $0.02 for the three month period and increased net income per share by $0.06 for the nine month period ended September 30, 2010.

Patterson-UTI Energy Reports Financial Results for Three and Nine Months Ended September 30, 2010

HOUSTON, Oct. 28 /PRNewswire-FirstCall/ -- PATTERSON-UTI ENERGY, INC. (Nasdaq: PTEN) today reported financial results for the three and nine months ended September 30, 2010. The Company reported net income of $29.4 million, or $0.19 per share, for the third quarter of 2010, compared to a net loss of $18.6 million, or a loss of $0.12 per share, for the quarter ended September 30, 2009. Revenues for the third quarter of 2010 were $379 million, compared to $160 million for the third quarter of 2009.

Among the onshore contract drillers, we are positive on Patterson-UTI Energy (Nasdaq: PTEN). The Texas-based company, which had heavy spot market exposure, was hit badly by the financial crisis with operators tending to release land rigs to preserve cash. However, Patterson-UTI has recovered almost all its lost market share and its long-term outlook seems compelling on the back of recent acquisition of certain assets of onshore well service rig provider Key Energy Services.


Source: Zacks

FYI In July, Patterson-UTI Energy (PTEN) had an average of 269 drilling rigs operating, including 258 rigs in the United States and 11 rigs in Canada.

Shares of Patterson began the year just below $20 and then ran to $37.45 in late June, but then they hit the skids along with Texas Tea (crude oil) and put in a solid double-bottom just above $24 in early August.

Today, shares are up a dollar to $28.73, and the outlook for Patterson seems to have improved even as Gustav, a Category 1 hurricane, moves toward Cuba.

Patterson is cheap relative to its peers

P/E Ratio: 8.10

P/E Ratio vs. Industry: 48.99%

Looks like a breakout today...

Howdy, This One Is Tricky and Profit is small, for me anyways, i try for a buck a share and out, sometimes a buck fifty, it's seems to be channeling higher but risk vs reward isnt enough without be confident and looking at the co.'s big picture...

i am still watching, not confident it has bottomed yet..all in my opinion of course...i'm certainly no expert. just lucky sometimes

all the best

Hello trythisagain,

Looks like PTEN will be a good buy again when it gets around 21--20.75. Any thoughts?

Waiting For 21.00ish.../

Back In @ 22.00