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

Patterson-UTI Energy (NASDAQ:PTEN) had its price target upped by equities research analysts at Morgan Stanley from $7.00 to $10.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the oil and gas company’s stock. Morgan Stanley’s price objective would indicate a potential downside of 3.94% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the stock. Royal Bank Of Canada increased 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 note on Friday, February 6th. Susquehanna increased 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 note on Tuesday, April 7th. Piper Sandler increased their target price on shares of Patterson-UTI Energy from $9.00 to $10.00 and gave the company a “neutral” rating in a research note on Wednesday. The Goldman Sachs Group increased their target price on shares of Patterson-UTI Energy from $7.00 to $9.00 and gave the company a “buy” rating in a research note on Wednesday, March 4th. Finally, Zacks Research upgraded shares of Patterson-UTI Energy from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 10th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $9.67.

Patterson-UTI Energy Stock Up 4.9%

NASDAQ PTEN opened at $10.41 on Wednesday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.46 and a current ratio of 1.64. The firm has a 50-day simple moving average of $9.63 and a 200 day simple moving average of $7.45. Patterson-UTI Energy has a twelve month low of $5.10 and a twelve month high of $11.75. The stock 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 released its 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. Patterson-UTI Energy had a negative net margin of 1.94% and a negative return on equity of 1.50%. The business had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter last year, the company earned ($0.13) earnings per share. The firm’s revenue was down 1.0% on a year-over-year basis. On average, research analysts forecast that Patterson-UTI Energy will post -0.1 EPS for the current year.

Insider Transactions at Patterson-UTI Energy

In related news, Director Robert Wayne Drummond, Jr. sold 164,775 shares of the 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP raised its position in Patterson-UTI Energy by 8.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 18,465,704 shares of the oil and gas company’s stock worth $112,825,000 after purchasing an additional 1,465,102 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Patterson-UTI Energy by 7.9% in the third quarter. American Century Companies Inc. now owns 15,599,294 shares of the oil and gas company’s stock valued at $80,804,000 after acquiring an additional 1,135,704 shares during the last quarter. State Street Corp raised its stake in shares of Patterson-UTI Energy by 0.5% in the fourth quarter. State Street Corp now owns 15,265,086 shares of the oil and gas company’s stock valued at $93,270,000 after acquiring an additional 75,560 shares during the last quarter. Sourcerock Group LLC raised its stake in shares of Patterson-UTI Energy by 109.2% in the second quarter. Sourcerock Group LLC now owns 13,803,775 shares of the oil and gas company’s stock valued at $81,856,000 after acquiring an additional 7,205,652 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in shares of Patterson-UTI Energy by 110.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 10,559,219 shares of the oil and gas company’s stock valued at $64,517,000 after acquiring an additional 5,551,276 shares during the last quarter. Institutional investors and hedge funds own 97.91% of the company’s stock.

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.