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.

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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.

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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 / June 5, 2023 / PATTERSON-UTI ENERGY, INC. (NASDAQ:PTEN) today reported that for the month of May 2023, the Company had an average of 128 drilling rigs operating in the United States.

Patterson-UTI Reports Drilling Activity for May 2023

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Patterson-UTI (PTEN) reported earnings 30 days ago. What's next for the stock?

Why Is Patterson-UTI (PTEN) Down 7% Since Last Earnings Report?

HOUSTON, TX / ACCESSWIRE / May 5, 2023 / PATTERSON-UTI ENERGY, INC. (NASDAQ:PTEN) announces the release of its fourth annual corporate sustainability report, showcasing the company's ongoing commitment to environmental, social, and governance ("ESG") issues.

Patterson-UTI Publishes Corporate Sustainability Report

HOUSTON, TX / ACCESSWIRE / May 3, 2023 / PATTERSON-UTI ENERGY, INC. (NASDAQ:PTEN) today reported that for the month of April 2023, the Company had an average of 131 drilling rigs operating in the United States.

Patterson-UTI Reports Drilling Activity for April 2023

Patterson-UTI (PTEN) expects capex of $510 million, Contract Drilling capex of $290 million and Pressure Pumping capex of $150 million for 2023.

Patterson UTI (PTEN) Q1 Earnings & Sales Beat Estimates

Patterson-UTI Energy, Inc. (PTEN) Q1 2023 Earnings Call Transcript.

Patterson-UTI Energy, Inc. (PTEN) Q1 2023 Earnings Call Transcript

HOUSTON, TX / ACCESSWIRE / April 26, 2023 / PATTERSON-UTI ENERGY, INC. (NASDAQ:PTEN) today reported financial results for the quarter ended March 31, 2023.

Patterson-UTI Energy Reports Financial Results for the Quarter Ended March 31, 2023

Patterson-UTI (PTEN) doesn't possess 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) Reports Next Week: Wall Street Expects Earnings Growth

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HOUSTON, TX / ACCESSWIRE / April 5, 2023 / PATTERSON-UTI ENERGY, INC. (NASDAQ:PTEN) today reported that for the month of March 2023, the Company had an average of 131 drilling rigs operating in the United States.

Patterson-UTI Reports Drilling Activity for March 2023

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The average brokerage recommendation (ABR) for Patterson-UTI (PTEN) is equivalent to a Buy. The overly optimistic recommendations of Wall Street analysts make the effectiveness of this highly sought-after metric questionable.

Wall Street Analysts See Patterson-UTI (PTEN) as a Buy: Should You Invest?

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Based on the average brokerage recommendation (ABR), Patterson-UTI (PTEN) should be added to one's portfolio. Wall Street analysts' overly optimistic recommendations cast doubt on the effectiveness of this highly sought-after metric.

Should You Invest in Patterson-UTI (PTEN) Based on Bullish Wall Street Views?

HOUSTON, TX / ACCESSWIRE / March 3, 2023 / PATTERSON-UTI ENERGY, INC. (NASDAQ:PTEN) today reported that for the month of February 2023, the Company had an average of 131 drilling rigs operating in the United States.

Patterson-UTI Reports Drilling Activity for February 2023

HOUSTON, TX / ACCESSWIRE / March 3, 2023 / PATTERSON-UTI ENERGY, INC. (NASDAQ:PTEN) today announced that the Company will participate in the Raymond James 44th Annual Institutional Investors Conference on Tuesday, March 7, 2023.

Patterson-UTI Energy to Participate in the Raymond James 44th Annual Institutional Investors Conference

Patterson-UTI Energy's (PTEN) Q4 sales and earnings beat estimates with strong performance across various segments. It also projects a rig count increase and $550 million capex for 2023.

Patterson-UTI's (PTEN) Q4 Earnings & Sales Beat Estimates

Oilfield services company Patterson-UTI supplies pressure pumping and contract drilling services. The company's market capitalization is $3.1 billion, and it pays a 2.2% dividend.

Patterson-UTI Energy's Services Are In Good Demand

Patterson-UTI Energy, Inc. (NASDAQ:PTEN ) Q4 2022 Earnings Conference Call February 9, 2023 10:00 AM ET Company Participants Mike Drickamer – Vice President-Investor Relations Andy Hendricks – Chief Executive Officer Andy Smith – Chief Financial Officer Mike Holcomb – Chief Operating Officer Conference Call Participants Arun Jayaram – JPMorgan Chase Jim Rollyson – Raymond James Scott Gruber – Citigroup Saurabh Pant – Bank of America Kurt Hallead – Benchmark Keith MacKey – RBC Don Crist – Johnson Rice John Daniel – Daniel Energy Partners Derek Podhaizer – Barclays Luke Lemoine – Piper Sandler Operator Good morning. My name is Colby, and I will be your conference operator today.

Patterson-UTI Energy, Inc. (PTEN) Q4 2022 Earnings Call Transcript

Patterson-UTI (PTEN) delivered earnings and revenue surprises of 6.98% and 3.81%, respectively, for the quarter ended December 2022. Do the numbers hold clues to what lies ahead for the stock?

Patterson-UTI (PTEN) Tops Q4 Earnings and Revenue Estimates

HOUSTON, TX / ACCESSWIRE / February 8, 2023 / PATTERSON-UTI ENERGY, INC. (NASDAQ:PTEN) today reported financial results for the quarter ended December 31, 2022.

Patterson-UTI Energy Reports Financial Results for the Quarter Ended December 31, 2022

Raymond James weighed in on Patterson-UTI Energy, Inc. (NASDAQ:PTEN) today, as trimming its 2023 U.S. rig count forecast to 750 from 813 on lower natural gas prices, citing mild winter conditions and stronger U.S. production growth.

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Higher revenues from the Contract Drilling and Pressure Pumping segments are likely to have boosted Patterson-UTI Energy's (PTEN) fourth-quarter results.

News for Patterson-UTI Energy Stock (PTEN)