Piper Sandler Increases Patterson-UTI Energy (NASDAQ:PTEN) Price Target to $10.00

Patterson-UTI Energy (NASDAQ:PTEN) had its price target lifted by Piper Sandler from $9.00 to $10.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the oil and gas company’s stock. Piper Sandler’s target price would indicate a potential downside of 3.94% from the company’s current price.

PTEN has been the subject of several other reports. Weiss Ratings restated a “sell (d-)” rating on shares of Patterson-UTI Energy in a research report on Monday, December 29th. Citigroup upped 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 upped 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, Royal Bank Of Canada upped their price target on shares of Patterson-UTI Energy from $8.00 to $9.00 and gave the stock an “outperform” rating in a report on Friday, February 6th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $9.67.

Patterson-UTI Energy Stock Up 4.9%

Shares of PTEN opened at $10.41 on Wednesday. Patterson-UTI Energy has a one year low of $5.10 and a one year high of $11.75. The company has a market cap of $3.95 billion, a P/E ratio of -41.64 and a beta of 0.57. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.64 and a quick ratio of 1.46. The firm has a 50 day simple moving average of $9.63 and a two-hundred day simple moving average of $7.45.

Patterson-UTI Energy (NASDAQ:PTEN) last announced its quarterly earnings data on Wednesday, February 4th. The oil and gas company reported ($0.02) EPS 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 the consensus estimate of $1.10 billion. During the same period in the previous year, the business earned ($0.13) earnings per share. The company’s revenue was down 1.0% on a year-over-year basis. Research analysts forecast that Patterson-UTI Energy will post -0.1 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Robert Wayne Drummond, Jr. sold 164,775 shares of the stock in a transaction on Monday, March 16th. The stock was 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 Securities & Exchange Commission, which is available through this hyperlink. 2.40% of the stock is owned by insiders.

Institutional Trading of Patterson-UTI Energy

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

More Patterson-UTI Energy News

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

About Patterson-UTI Energy

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.