Patterson-UTI Energy (PTEN) : Zacks Investment Research ranks Patterson-UTI Energy (PTEN) as 3, which is a Hold recommendation. 10 research analysts consider that the stocks fundamentals point to a bright future, hence they rate the stock as a Strong Buy. 1 other analysts are mildly bullish on the stock and favor a Buy. Not everyone is convinced about the stocks future, hence, the stock receives 2 Sell recommendation. 2 more believe that the stock has more downside risks, hence they propose a Strong Sell. A total of 8 analysts believe that the stock has a limited upside, hence they advise a Hold. The average broker rating of 23 research analysts is 2.35, which indicates as a Buy.
Patterson-UTI Energy (PTEN) : The highest level Patterson-UTI Energy (PTEN) is projected to reach is $34 for the short term and the lowest estimate is at $12. The consolidated price target from 18 rating analysts who initiate coverage on the stock is $21.67 and the possibility the share price can swing is $4.92.
Company shares have received an average consensus rating of Hold for the current week Also, In the latest statement by the brokerage house, Citigroup maintains its outlook on Patterson-UTI Energy (NASDAQ:PTEN). The current rating of the shares is Neutral, according to the research report released by the firm. The brokerage firm raises the price target from $20 per share to $23 per share. The rating by the firm was issued on July 13, 2016.
Patterson-UTI Energy (NASDAQ:PTEN): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $18.80 and $18.69 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $19.58. The buying momentum continued till the end and the stock did not give up its gains. It closed at $19.37, notching a gain of 3.09% for the day. The total traded volume was 3,326,608 . The stock had closed at $18.79 on the previous day.
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.