Patterson-UTI Energy

Patterson-UTI Energy, Inc. engages in the provision of drilling and pressure pumping services, directional drilling, rental equipment and technology. It operates through the following segments: Contract Drilling Services, Pressure Pumping Services, and Directional Drilling Services. The Contract Drilling Services segment markets its services to major and independent oil and natural gas operators. The Pressure Pumping Services segment offers pressure pumping services to oil and natural gas operators primarily in Texas and the Appalachian Basin. The Directional Drilling Services segment consists of downhole performance motors and equipment to provide services including directional drilling, downhole performance motors, motor rentals, directional surveying, measurement-while-drilling, and wireline steering tools, in most major onshore oil and natural gas basins. The company was founded by Cloyce A. Talbott and A. Glenn Patterson in 1978 and is headquartered in Houston, TX.

Earnings data Q1 2021

Earnings data Q2 2021

Earnings data Q3 2021

Earnings data Q4 2021

Earnings data Q1 2022

Earnings data Q2 2022

Earnings data Q3 2022

Earnings data Q4 2022

Earnings data Q1 2023

Earnings data Q2 2023

Earnings data Q3 2023

Earnings data Q4 2023

Earnings data Q1 2024

Earnings data Q2 2024

Earnings data Q3 2024

Earnings data Q4 2024

Patterson-UTI Energy (PTEN) posts strong Q4 results, eyes growth

Patterson-UTI Energy (PTEN) reported a robust Q4 2022 performance, anticipating significant growth in 2023 driven by strong demand for rigs and pressure pumping services, supported by stable oil prices and operational efficiencies.
Despite cost and inflation challenges, PTEN's strategic initiatives around reactivating rigs, repricing contracts, and technology innovation position the company well for future profitability and market leadership.
With a focus on financial discipline, shareholder returns, and operational excellence, PTEN is poised to navigate industry dynamics, capitalize on growth opportunities, and drive sustainable value creation for stakeholders.
Proactive measures to address challenges, explore new markets, and invest in technology underscore PTEN's commitment to innovation, efficiency, and long-term success in the energy sector.

Patterson-UTI Energy posts strong Q1 results, eyes operational efficiency

Patterson-UTI Energy's Q1 performance reflects financial strength and strategic operational decisions.
While facing challenges in certain segments, the company is well-positioned to capitalize on growth opportunities.
Maintaining a focus on shareholder returns and operational efficiency, PTEN aims to navigate market dynamics effectively.
Strategic initiatives and cost-effective measures position Patterson-UTI Energy for sustainable growth and profitability.

Patterson-UTI Energy reports Q2 net income of $84.6 million

Patterson-UTI Energy remains positive about future prospects, expressing confidence in maintaining dayrates, pricing dynamics, and rig count recovery. They see more upside in gas activity compared to oil, especially in regions like South Texas and broader basins connected to Henry Hub.

Patterson-UTI Energy (PTEN) reports steady performance and growth opportunities

Patterson-UTI Energy (PTEN) is navigating challenges in drilling activity and completion services revenue while focusing on maximizing synergies from recent mergers. The company remains optimistic about positive momentum into 2024 and sees growth opportunities in international markets. PTEN is committed to enhancing shareholder value and maintaining operational efficiencies.

Patterson-UTI Energy (PTEN) posts robust Q4 results, eyes international growth

PTEN's strong Q4 performance post-merger showcases profitability and FCF strength. Strategic investments in technology and acquisitions position the company for growth. Challenges include cost increases and natural gas basin softness, offset by opportunities in international markets and e-fleet expansion.

Patterson-UTI Energy (PTEN) reports robust Q1 results and eyes shareholder returns

Patterson-UTI Energy (PTEN) showcased strong financial performance in Q1 2024, driven by robust free cash flow and successful segment operations. While facing challenges from weak natural gas prices, the company is focused on enhancing shareholder value through capital returns and strategic growth initiatives. Opportunities lie in market improvements, shareholder returns, and technological advancements.

Patterson-UTI Energy (PTEN) reports strong Q2 results, eyes growth opportunities

PTEN's Q2 performance reflects solid financial results, with a focus on shareholder value and operational efficiency across its business segments.
While facing challenges in managing CapEx and market uncertainties, the company remains optimistic about growth opportunities and is committed to maximizing free cash flow.
By prioritizing capital-efficient growth, rewarding shareholders, and pursuing strategic initiatives, PTEN aims to navigate industry challenges and drive sustainable value creation.

PTEN reports strong Q3 earnings, eyes growth amid market challenges

Patterson-UTI Energy (PTEN) delivered solid financial results in Q3 2024, focusing on operational excellence, shareholder value, and debt reduction. Despite challenges in completion activity and market dynamics, PTEN remains optimistic about the natural gas market stabilization and long-term outlook. The company's strategic acquisitions and commitment to enhancing shareholder value position it for future growth and profitability.

Revenue

Cost of revenue

Gross profit

Operating expenses

SG&A

Other

Operating income

EBITDA

Net income

Earnings per share

Total assets

Current assets

Cash & equivalents

Receivables

Inventory

Non-current assets

Net PPE

Intangibles

Total liabilities

Current liabilities

Short term debt

Income tax payable

Non-current liabilities

Long-term debt

Total equity

Stockholders equity

Minority interest

Total liabilities & equity

Total debt

Net debt

Book value per share

Cash from operations

Funds from operations

Change in working capital

Cash from investing

Capital expenditure

Purchase/sale of investments

Purchase/sale of business

Other sources

Cash from financing

Change in stock

Change in debt

Cash dividends paid

Cash from other sources

Net change in cash

Free cash flow

Patterson-UTI Energy, Inc. engages in the provision of drilling and pressure pumping services, directional drilling, rental equipment, and technology. It operates through the following segments: Drilling Services, Completion Services, and Drilling Products. The Drilling Services segment represents contract drilling, directional drilling, oilfield technology, and electrical controls and automation businesses. The Completion Services segment offers hydraulic fracturing, wireline and pumping, completion support, cementing, and pressure pumping business. The Drilling Products segment focuses on manufacturing and distribution of drill bits business. The company was founded by Cloyce A. Talbott and A. Glenn Patterson in 1978 and is headquartered in Houston, TX.

HOUSTON, TX / ACCESSWIRE / January 8, 2024 / PATTERSON-UTI ENERGY, INC. (NASDAQ:PTEN) today reported that for the month of December 2023, the Company had an average of 119 drilling rigs operating in the United States.

Patterson-UTI Reports Drilling Activity for December 2023

Arlo Technologies Inc

Catalyst Pharmaceuticals

Digi

Dynavax Technologies

Green Plains

Helix Energy Solutions Group

Ironwood Pharma

Ligand Pharmaceuticals

Livent Corp

ModivCare

Payoneer Global

Pacira Pharmaceuticals

Arcus Biosciences

SMART Global Hlds

Talos Energy Inc

Vir Biotechnology

Xencor

Xperi

The 2023 stock-market rally has been led by the “Magnificent Seven” companies, which have driven an accelerating upward trend for the large-cap benchmark S&P 500. Shares of smaller and medium-sized companies have also rallied, but not as much:

20 favorite small-cap stocks for 2024 among Wall Street analysts

ConocoPhillips

Chevron

Diamondback Energy

Halliburton

Marathon Oil

Ovintiv

Permian Resources Corp

Schlumberger

Targa Resources

Higher prices for crude, lower interest rates and industry consolidation bodes well for Wall Street's top oil stocks.

Best Oil Stocks to Buy for 2024 and Beyond

HOUSTON, TX / ACCESSWIRE / December 8, 2023 / PATTERSON-UTI ENERGY, INC. (NASDAQ:PTEN) today reported that for the month of November 2023, the Company had an average of 118 drilling rigs operating in the United States.

Patterson-UTI Reports Drilling Activity for November 2023

Patterson-UTI Energy has positioned itself for growth with strategic transactions and attractive free cash flow yield. Positive drivers are emerging for drilling to recover in the macro market, potentially leading to better times for the company. Patterson-UTI Energy's acquisitions and market position make it a solid investment case for long-term growth and moderate to increasing income.

Patterson-UTI: The Future's So Bright

Patterson-UTI (PTEN) expects total capital outlay for the fourth quarter of 2023 to be approximately $190 million.

Patterson-UTI (PTEN) Q3 Earnings Miss, Revenues Top

Helmerich & Payne

Seadrill Ltd

Following a careful analysis of the Zacks Oil and Gas - Drilling industry, we advise focusing on companies like HP, PTEN and SDRL.

Is There an Opportunity in These Oil & Gas Drilling Stocks?

Patterson-UTI Energy Inc. (PTEN) Q3 2023 Earnings Call Transcript

HOUSTON, TX / ACCESSWIRE / November 7, 2023 / PATTERSON-UTI ENERGY, INC. (NASDAQ:PTEN) today reported financial results for the quarter ended September 30, 2023.

Patterson-UTI Energy Reports Financial Results for the Quarter Ended September 30, 2023

HOUSTON, TX / ACCESSWIRE / November 6, 2023 / PATTERSON-UTI ENERGY, INC. (NASDAQ:PTEN) today reported that for the month of October 2023, the Company had an average of 117 drilling rigs operating in the United States.

Patterson-UTI Reports Drilling Activity for October 2023

Patterson-UTI Energy (PTEN) beat the Zacks Consensus Estimate for earnings thrice in the last four quarters and met in the other, resulting in an earnings surprise of 20.5%, on average.

Will NexTier Merger Boost Patterson-UTI's (PTEN) Q3 Earnings?

Acadia Healthcare

ALLETE

Teekay Tankers

Textron

The crux of safe investment lies in choosing a company that is not burdened with debt as debt-free stock is almost impossible to find. You may buy TXT, PTEN, ALE, TNK and ACHC.

5 Low-Leverage Stocks to Buy as Inflation Fear Eases

Patterson-UTI (PTEN) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Patterson-UTI (PTEN) to Report Q3 Results: Wall Street Expects Earnings Growth

CenterPoint Energy

e.l.f. Beauty

Frontdoor Inc.

Parker-Hannifin

As brokers have a deeper insight into stocks, one must follow rating upgrades for solid returns. We select e.l.f.

Bet on 5 Top-Ranked Stocks With Upgraded Broker Ratings

The Zacks Style Scores offers investors a way to easily find top-rated stocks based on their investing style. Here's why you should take advantage.

Why Patterson-UTI (PTEN) is a Top Value Stock for the Long-Term

APA Corporation

HF Sinclair Corp

Patterson-UTI Energy (PTEN), APA Corporation (APA) and HF Sinclair (DINO) enjoy upward trending earnings revisions and a discounted valuation.

3 Zacks Rank Additions Energy Investors Can Buy Right Now

Wondering how to pick strong, market-beating stocks for your investment portfolio? Look no further than the Zacks Style Scores.

Here's Why Patterson-UTI (PTEN) is a Strong Growth Stock

PTEN made it to the Zacks Rank #1 (Strong Buy) momentum stock list on October 5, 2023.

Best Momentum Stock to Buy for October 5th

Applied Industrial Technologies

Broadwind Energy

E.ON SE

LivePerson

EONGY, BWEN, PTEN, AIT and LPSN have been added to the Zacks Rank #1 (Strong Buy) List on October 5, 2023.

New Strong Buy Stocks for October 5th

PTEN made it to the Zacks Rank #1 (Strong Buy) income stock list on October 5, 2023.

Best Income Stock to Buy for October 5th

HOUSTON, TX / ACCESSWIRE / October 4, 2023 / PATTERSON-UTI ENERGY, INC. (NASDAQ:PTEN) today reported that for the month of September 2023, the Company had an average of 117 drilling rigs operating in the United States.

Patterson-UTI Reports Drilling Activity for September 2023

Patterson-UTI Energy (PTEN) trades at tight multiples relative to its assets and cash flows, presenting potential to unlock risk capital. Demand for PTEN's services is high due to increased oil and gas prices and a shortage of Tier-1 rigs. PTEN has committed to returning 50% of its free cash flow to shareholders through dividends and buybacks, and its merger with NexTier Oilfield Solutions offers additional upside potential.

Patterson-UTI Energy: Dividends And Buybacks Well Supported, ~85% NOPAT Distributable

HOUSTON, TX / ACCESSWIRE / September 7, 2023 / PATTERSON-UTI ENERGY, INC. (NASDAQ:PTEN) today reported that for the month of August 2023, the Company had an average of 117 drilling rigs operating in the United States.

Patterson-UTI Reports Drilling Activity for August 2023

Patterson-UTI (PTEN) and NexTier Oilfield Solutions complete their merger to create a leading U.S. drilling and completions provider.

Patterson-UTI (PTEN) and NexTier Form New Oilfield Company

HOUSTON, TX / ACCESSWIRE / September 1, 2023 / Patterson-UTI Energy, Inc. (NASDAQ:PTEN) ("Patterson-UTI") today announced the completion of its previously announced all-stock merger with NexTier Oilfield Solutions Inc. ("NexTier"), creating a leading provider of drilling and completions services in the United States. The combined company will retain the name Patterson-UTI Energy, Inc., continue trading under the ticker symbol PTEN and maintain its headquarters in Houston, Texas.

News for Patterson-UTI Energy Stock (PTEN)