Patterson-UTI Energy (NASDAQ:PTEN) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

Patterson-UTI Energy (NASDAQ:PTEN) had its price objective lifted by research analysts at The Goldman Sachs Group from $9.00 to $11.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the oil and gas company’s stock. The Goldman Sachs Group’s price target would indicate a potential upside of 5.67% from the company’s previous close.

A number of other equities analysts also recently weighed in on the stock. Stifel Nicolaus lifted their target price on shares of Patterson-UTI Energy from $9.00 to $11.00 and gave the stock a “buy” rating in a research note on Friday, February 6th. Citigroup raised their price target on shares of Patterson-UTI Energy from $7.00 to $9.00 and gave the stock a “neutral” rating in a report on Monday, February 9th. Zacks Research upgraded shares of Patterson-UTI Energy from a “hold” rating to a “strong-buy” rating in a report on Friday, April 10th. Susquehanna raised their price target on shares of Patterson-UTI Energy from $10.00 to $13.00 and gave the stock a “positive” rating in a report on Tuesday, April 7th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Patterson-UTI Energy in a report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $9.67.

Patterson-UTI Energy Price Performance

Shares of NASDAQ PTEN opened at $10.41 on Wednesday. Patterson-UTI Energy has a twelve month low of $5.10 and a twelve month high of $11.75. The firm has a fifty day simple moving average of $9.63 and a 200 day simple moving average of $7.45. The company has a market capitalization of $3.95 billion, a PE ratio of -41.64 and a beta of 0.57. 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 (NASDAQ:PTEN) last announced its earnings results on Wednesday, February 4th. The oil and gas company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $1.10 billion. During the same quarter last year, the firm earned ($0.13) earnings per share. Patterson-UTI Energy’s quarterly revenue was down 1.0% on a year-over-year basis. On average, sell-side analysts forecast that Patterson-UTI Energy will post -0.1 EPS for the current year.

Insider Buying and Selling

In other news, Director Robert Wayne Drummond, Jr. sold 164,775 shares of Patterson-UTI Energy stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $10.18, for a total transaction of $1,677,409.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 2.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in PTEN. Royal Bank of Canada grew its holdings in shares of Patterson-UTI Energy by 23.7% during the first quarter. Royal Bank of Canada now owns 169,995 shares of the oil and gas company’s stock valued at $1,397,000 after buying an additional 32,622 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Patterson-UTI Energy by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 231,637 shares of the oil and gas company’s stock valued at $1,904,000 after buying an additional 10,142 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Patterson-UTI Energy by 4.9% during the first quarter. Goldman Sachs Group Inc. now owns 4,747,463 shares of the oil and gas company’s stock valued at $39,024,000 after buying an additional 220,422 shares during the last quarter. United Services Automobile Association acquired a new position in shares of Patterson-UTI Energy during the first quarter valued at about $176,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Patterson-UTI Energy by 3.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 864,492 shares of the oil and gas company’s stock valued at $7,106,000 after buying an additional 30,217 shares during the last quarter. 97.91% of the stock is currently owned by institutional investors and hedge funds.

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.