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.

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Patterson-UTI (PTEN) Is Up 4.74% in One Week: What You Should Know

HOUSTON, TX / ACCESSWIRE / November 3, 2022 / PATTERSON-UTI ENERGY, INC. (NASDAQ:PTEN) today reported that for the month of October 2022, the Company had an average of 131 drilling rigs operating in the United States.

Patterson-UTI Reports Drilling Activity for October 2022

Patterson-UTI's (PTEN) third-quarter 2022 earnings and revenues top the Zacks Consensus Estimate due to solid segmental performances. The company also doubles its quarterly dividend.

Patterson-UTI (PTEN) Earnings & Sales Beat Estimates in Q3

Top energy stock Patterson-UTI rocketed higher in a breakaway gap last week, clearing a strong base. The post Top Energy Stock Flashes Hyper-Bullish Signal With Strong Drivers appeared first on Investor's Business Daily.

Top Energy Stock Flashes Hyper-Bullish Signal With Strong Drivers

Patterson-UTI Energy, Inc. (NASDAQ:PTEN ) Q3 2022 Earnings Conference Call October 27, 2022 10:00 AM ET Company Participants Mike Drickamer – Vice President-Investor Relations Andy Hendricks – Chief Executive Officer Andy Smith – Chief Financial Officer Conference Call Participants Scott Gruber – Citi Luke Lemoine – Piper Sandler Derek Podhaizer – Barclays Don Crist – Johnson Rice Saurabh Pant – Bank of America Keith Mackey – RBC Sean Mitchell – Daniel Energy David Smith – Pickering Energy Partners Dan Kutz – Morgan Stanley Operator Good morning. My name is Denis and I will be your conference operator today.

Patterson-UTI Energy, Inc. (PTEN) Q3 2022 Earnings Call Transcript

Patterson-UTI (PTEN) delivered earnings and revenue surprises of 47.37% and 6.38%, respectively, for the quarter ended September 2022. Do the numbers hold clues to what lies ahead for the stock?

Patterson-UTI (PTEN) Q3 Earnings and Revenues Surpass Estimates

HOUSTON, TX / ACCESSWIRE / October 26, 2022 / PATTERSON-UTI ENERGY, INC. (NASDAQ:PTEN) today reported financial results for the quarter ended September 30, 2022.

Patterson-UTI Energy Reports Financial Results for the Quarter Ended September 30, 2022; Doubles Dividend and Announces Shareholder Return Target

Patterson-UTI (PTEN) shares have started gaining and might continue moving higher in the near term, as indicated by solid earnings estimate revisions.

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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) Earnings Expected to Grow: What to Know Ahead of Next Week's Release

PTEN is likely to greatly benefit from the recently announced production cut of OPEC. However, PTEN is facing a major secular threat, namely the accelerated shift of the vast majority of countries from fossil fuels to clean energy sources.

Patterson-UTI Energy Is Likely To Greatly Benefit From OPEC's Decision But It Remains Risky

The mean of analysts' price targets for Patterson-UTI (PTEN) points to a 38% upside in the stock. While this highly sought-after metric has not proven reasonably effective, strong agreement among analysts in raising earnings estimates does indicate an upside in the stock.

How Much Upside is Left in Patterson-UTI (PTEN)? Wall Street Analysts Think 38%

HOUSTON, TX / ACCESSWIRE / October 5, 2022 / - PATTERSON-UTI ENERGY, INC. (NASDAQ:PTEN) today reported that for the month of September 2022, the Company had an average of 130 drilling rigs operating in the United States.

Patterson-UTI Reports Drilling Activity for September 2022

A big oil production cut by OPEC+ members will not spur new U.S. oil and gas production, energy executives told Reuters, despite the likely rise in prices that could signal higher profits and inflation pressures.

U.S. shale producers to stay on sidelines if OPEC+ slashes output

Analysts are raising their earnings projections, share performance has been rock-solid, and Patterson-UTI Energy (PTEN) has strong growth prospects.

Patterson-UTI Energy (PTEN) Stock Still Offers Opportunities

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Constructive fundamentals in the Zacks Oil and Gas - Drilling industry has provided the operators with critical growth tailwinds over the medium to long term. This should benefit the likes of HP, PTEN and NBR.

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Investors need to pay close attention to PattersonUTI Energy (PTEN) stock based on the movements in the options market lately.

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HOUSTON, TX / ACCESSWIRE / September 9, 2022 / PATTERSON-UTI ENERGY, INC. (NASDAQ:PTEN) today announced with great sadness that Cloyce A.

Patterson-UTI Energy Announces Death of Co-Founder and Former CEO, Cloyce A. Talbott

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HOUSTON, TX / ACCESSWIRE / September 6, 2022 / PATTERSON-UTI ENERGY, INC. (NASDAQ:PTEN) today announced that Andy Hendricks, the Company's President and Chief Executive Officer, will participate in a fireside chat at the Barclays CEO Energy-Power Conference on Wednesday, September 7, 2022, at 9:45 a.m.

Patterson-UTI Energy to Present at the Barclays CEO Energy-Power Conference

HOUSTON, TX / ACCESSWIRE / September 6, 2022 / PATTERSON-UTI ENERGY, INC. (NASDAQ:PTEN) today reported that for the month of August 2022, the Company had an average of 128 drilling rigs operating in the United States.

Patterson-UTI Reports Drilling Activity for August 2022

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The consensus price target hints at a 32% upside potential for Patterson-UTI (PTEN). While empirical research shows that this sought-after metric is hardly effective, an upward trend in earnings estimate revisions could mean that the stock will witness an upside in the near term.

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