Patterson-UTI Energy (PTEN) Receives Price Target

Patterson-UTI Energy (PTEN) : The highest short term price target forecast on Patterson-UTI Energy (PTEN) is $34 and the lowest target price is $12. A total of 18 equity analysts are currently covering the company. The average price of all the analysts is $21.67 with a standard deviation of $5.05.

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 1 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 22 research analysts is 2.27, which indicates as a Buy.


Also, In a research note released to the investors, Citigroup maintains its rating on Patterson-UTI Energy (NASDAQ:PTEN).The analysts at the brokerage house have a current rating of Neutral on the shares. In a recent information released to the investors, Citigroup lowers the new price target from $23 per share to $22 per share. The rating by the firm was issued on August 9, 2016.

Patterson-UTI Energy (NASDAQ:PTEN): The stock was completely flat for the day, closing at $19.49 on Thursday. The flat closing masks the intraday volatility in the stock. After opening at $19.41, the stock touched an intraday high of $19.49 and a low of $19.03. Neither the bulls nor the bears asserted their supremacy at close, due to which the stock closed completely flat. The stock previously closed at $19.49. The total trading volume on Thursday was 2,744,693.

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.

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