Patterson-UTI Energy (NASDAQ:PTEN) Stock Price Expected to Rise, Citigroup Analyst Says

Patterson-UTI Energy (NASDAQ:PTEN) had its target price hoisted by equities research analysts at Citigroup from $9.00 to $11.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the oil and gas company’s stock. Citigroup’s price objective would indicate a potential upside of 5.67% from the stock’s current price.

Several other analysts have also issued reports on the stock. Royal Bank Of Canada lifted their target price on shares of Patterson-UTI Energy from $8.00 to $9.00 and gave the company an “outperform” rating in a research report on Friday, February 6th. Susquehanna lifted their target price on shares of Patterson-UTI Energy from $10.00 to $13.00 and gave the company a “positive” rating in a research report on Tuesday, April 7th. The Goldman Sachs Group lifted their target price on shares of Patterson-UTI Energy from $9.00 to $11.00 and gave the company a “buy” rating in a research report on Wednesday. Bank of America reiterated a “buy” rating on shares of Patterson-UTI Energy in a research report on Monday, March 2nd. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Patterson-UTI Energy in a research report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $9.67.

Patterson-UTI Energy Price Performance

Shares of Patterson-UTI Energy stock opened at $10.41 on Wednesday. The company has a quick ratio of 1.46, a current ratio of 1.64 and a debt-to-equity ratio of 0.38. Patterson-UTI Energy has a twelve month low of $5.10 and a twelve month high of $11.75. The business has a 50-day moving average price of $9.63 and a 200 day moving average price of $7.45. The firm has a market cap of $3.95 billion, a PE ratio of -41.64 and a beta of 0.57.

Patterson-UTI Energy (NASDAQ:PTEN) last announced its quarterly earnings results on Wednesday, February 4th. The oil and gas company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.09. The firm had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.10 billion. Patterson-UTI Energy had a negative return on equity of 1.50% and a negative net margin of 1.94%.Patterson-UTI Energy’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.13) EPS. Sell-side analysts predict that Patterson-UTI Energy will post -0.1 earnings per share for the current fiscal year.

Insider Buying and Selling at Patterson-UTI Energy

In other news, Director Robert Wayne Drummond, Jr. sold 164,775 shares of the firm’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $10.18, for a total value of $1,677,409.50. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 2.40% of the company’s stock.

Institutional Trading of Patterson-UTI Energy

Large investors have recently added to or reduced their stakes in the stock. O Shaughnessy Asset Management LLC grew its holdings in shares of Patterson-UTI Energy by 11.4% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 13,901 shares of the oil and gas company’s stock valued at $85,000 after purchasing an additional 1,420 shares during the period. Aster Capital Management DIFC Ltd raised its stake in Patterson-UTI Energy by 21.6% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 8,717 shares of the oil and gas company’s stock worth $53,000 after purchasing an additional 1,547 shares during the period. Sage Rhino Capital LLC raised its stake in Patterson-UTI Energy by 6.6% during the fourth quarter. Sage Rhino Capital LLC now owns 25,371 shares of the oil and gas company’s stock worth $155,000 after purchasing an additional 1,575 shares during the period. The Manufacturers Life Insurance Company raised its stake in Patterson-UTI Energy by 0.5% during the second quarter. The Manufacturers Life Insurance Company now owns 370,476 shares of the oil and gas company’s stock worth $2,197,000 after purchasing an additional 1,915 shares during the period. Finally, First Horizon Corp raised its stake in Patterson-UTI Energy by 58.5% during the fourth quarter. First Horizon Corp now owns 5,554 shares of the oil and gas company’s stock worth $34,000 after purchasing an additional 2,049 shares during the period. 97.91% of the stock is currently owned by hedge funds and other institutional investors.

Patterson-UTI Energy News Summary

Here are the key news stories impacting Patterson-UTI Energy this week:

• Positive Sentiment: Goldman Sachs raised its price target to $11 and kept a buy rating, giving explicit upward support to the stock and helping today’s gains. Goldman Sachs raises PT to $11
• Positive Sentiment: MSN highlights the stock trading up and attributes the move primarily to the fresh analyst attention and underlying quarterly beat, reinforcing bullish sentiment. MSN: Patterson-UTI stock trades up
• Positive Sentiment: Yahoo Finance ran a “soaring” piece highlighting intraday buying pressure and analyst target lifts as reasons for the rally. That coverage can attract momentum buyers. Yahoo Finance: Why PTEN shares are soaring
• Neutral Sentiment: Citigroup raised its price target to $11 but kept a “neutral” rating—this increases implied value but is not a full endorsement, so it’s broadly supportive but cautious. Benzinga: Citigroup raises PT to $11
• Neutral Sentiment: Piper Sandler raised its target to $10 with a neutral stance; that’s a modest lift but still implies limited near‑term upside versus the current price. Benzinga: Piper Sandler raises PT to $10
• Negative Sentiment: Morgan Stanley raised its target to $10 but kept an equal‑weight rating; their target implies slight downside from current levels and may cap the rally for some investors. Benzinga: Morgan Stanley raises PT to $10
• Negative Sentiment: Separate coverage noted periods when PTEN traded lower during the session, reflecting intraday profit‑taking and mixed analyst views that can create volatility. Yahoo UK: Why PTEN is trading lower

Patterson-UTI Energy Company Profile

Patterson-UTI Energy provides a comprehensive suite of onshore contract drilling and pressure pumping services to exploration and production companies in North America. The company’s core offerings include land-based drilling rigs, directional drilling, hydraulic fracturing services, downhole tool rental and well-servicing equipment. By integrating drilling and completion capabilities, Patterson-UTI Energy offers operators a streamlined solution designed to improve operational efficiency and well performance.

Headquartered in Houston, Texas, Patterson-UTI Energy traces its origins to its founding in 1978 and was later incorporated in Delaware in 1996.