Brokerage Firm Rating Update on Patterson-UTI Energy (PTEN)

Patterson-UTI Energy (PTEN) : 10 brokerage houses believe that Patterson-UTI Energy (PTEN) is a Strong Buy at current levels. 1 Analyst considers the fundamentals to be worthy of a Buy recommendation. 8 analysts believe that the current prices are in a balance with the stocks fundamentals, hence they propose Hold on Patterson-UTI Energy (PTEN). Zacks Investment Research suggests a Hold with a rank of 3. 1 analysts perceive the stock to be overvalued at the existing levels, hence their call is to Sell the stock. 2 others believe that the stock has run up ahead of its fundamentals and advise a Strong Sell on the stock.The median of all the 22 Wall Street Analysts endorse the stock as a Buy with a rating of 2.27.

Patterson-UTI Energy (PTEN) : Average target price received by Patterson-UTI Energy (PTEN) is $21.67 with an expected standard deviation of $5.05. The most aggressive target on the stock is $34, whereas the most downbeat target is $12. 18 financial analysts are currently covering the stock.


Company shares have received an average consensus rating of Hold for the current week Also, Major Brokerage house, Citigroup maintains its ratings on Patterson-UTI Energy (NASDAQ:PTEN). In the latest research report, Citigroup lowers the target price from $23 per share to $22 per share. According to the latest information available, the shares are now rated Neutral by the analysts at the agency. The rating by the firm was issued on August 9, 2016.

Patterson-UTI Energy (NASDAQ:PTEN): stock was range-bound between the intraday low of $20.42 and the intraday high of $20.905 after having opened at $20.71 on Wednesdays session. The stock finally closed in the red at $20.71, a loss of -0.29%. The stock remained in the red for the whole trading day. The total traded volume was 3,291,510 shares. The stock failed to cross $20.905 in Wednesdays trading. The stocks closing price on Thursday was $20.57.

Patterson-UTI Energy, Inc. owns and operates fleets of land-based drilling rigs and a fleet of pressure pumping equipment in the United States. The Company operates in three segments: Contract Drilling; Pressure Pumping, and Oil and Natural Gas. The Company markets its contract drilling services to oil and natural gas operators in the continental United States, and western and northern Canada. The Companys Pressure Pumping segment provides pressure pumping services to oil and natural gas operators in Texas, Southwest Region and the Appalachian region, Northeast Region. The Companys Oil and Natural Gas segment owns and invests in oil and natural gas assets as a non-operating working interest owner. The Companys oil and natural gas working interests are located in producing regions of Texas and New Mexico.

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