
Patterson-UTI Energy (PTEN) Stock Forecast & Price Target
Patterson-UTI Energy (PTEN) Analyst Ratings
Bulls say
Patterson-UTI Energy Inc has significantly expanded its market presence following its merger with NexTier, now controlling nearly 20% of the North American drilling and completions services market, which strengthens its competitive position. The firm exhibits a strong demand for its Tier 1 Super-spec drilling rigs, supported by an efficient asset base, positioning it for above-market growth relative to U.S. trends. Furthermore, management expects to return at least 50% of free cash flow to shareholders through dividends and buybacks, reflecting a commitment to shareholder value amidst promising market dynamics.
Bears say
Patterson-UTI Energy reported a significant downturn in financial performance, with adjusted EBITDA of $231.2 million representing an 8.0% decrease from the previous quarter and a notable decline compared to year-over-year results. The drilling services segment experienced a 39.4% drop in adjusted EBITDA, coupled with weak completion services revenue of $719.3 million, which fell short of estimates and marked a 10.7% year-over-year contraction. Furthermore, the overall decrease in drilling day rates for high-spec rigs signifies potential challenges ahead in maintaining revenue momentum within the competitive landscape.
This aggregate rating is based on analysts' research of Patterson-UTI Energy and is not a guaranteed prediction by Public.com or investment advice.
Patterson-UTI Energy (PTEN) Analyst Forecast & Price Prediction
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