Patterson-UTI Energy (Nasdaq:PTEN) - Stock Price, News & Analysis

PTEN Stock Overview

Patterson-UTI Energy, Inc., through its subsidiaries, provides contract drilling services to oil and natural gas operators in the United States and internationally.

About the company

PTEN fundamental analysis
Snowflake Score
Valuation	5/6
Future Growth	5/6
Past Performance	3/6
Financial Health	5/6
Dividends	4/6

Rewards

Trading at 44.1% below our estimate of its fair value

Earnings are forecast to grow 31.71% per year

Became profitable this year

Analysts in good agreement that stock price will rise by 49.9%

Risk Analysis

Shareholders have been substantially diluted in the past year

Unstable dividend track record

Significant insider selling over the past 3 months

Patterson-UTI Energy, Inc. Competitors

Noble

NYSE:NE

US$6.6b

Helmerich & Payne

NYSE:HP

US$3.6b

Valaris

NYSE:VAL

US$5.1b

Diamond Offshore Drilling

NYSE:DO

US$1.4b

Price History & Performance

Summary of all time highs, changes and price drops for Patterson-UTI Energy
Historical stock prices
Current Share Price	US$11.77
52 Week High	US$18.10
52 Week Low	US$9.70
Beta	2.43
1 Month Change	-8.26%
3 Month Change	-20.63%
1 Year Change	-27.84%
3 Year Change	129.43%
5 Year Change	-6.36%
Change since IPO	1,176.74%

Additional Considerations Required While Assessing Patterson-UTI Energy's (NASDAQ:PTEN) Strong Earnings

Nov 16

Recent updates

Additional Considerations Required While Assessing Patterson-UTI Energy's (NASDAQ:PTEN) Strong Earnings

Nov 16

Are Investors Undervaluing Patterson-UTI Energy, Inc. (NASDAQ:PTEN) By 40%?

Nov 05

Growth Investors: Industry Analysts Just Upgraded Their Patterson-UTI Energy, Inc. (NASDAQ:PTEN) Revenue Forecasts By 36%

Sep 08

These 4 Measures Indicate That Patterson-UTI Energy (NASDAQ:PTEN) Is Using Debt Reasonably Well

Aug 22

An Intrinsic Calculation For Patterson-UTI Energy, Inc. (NASDAQ:PTEN) Suggests It's 27% Undervalued

Aug 01

Is Patterson-UTI Energy (NASDAQ:PTEN) Using Too Much Debt?

May 05

Patterson-UTI Energy's (NASDAQ:PTEN) Dividend Will Be Increased To $0.08

Nov 20

Patterson-UTI Energy (NASDAQ:PTEN) Has Announced That It Will Be Increasing Its Dividend To $0.08

Nov 03

Patterson-UTI Energy Is Likely To Greatly Benefit From OPEC's Decision But It Remains Risky

Oct 10

Is There An Opportunity With Patterson-UTI Energy, Inc.'s (NASDAQ:PTEN) 35% Undervaluation?

Mar 18

Patterson-UTI Energy: Rig Upgrade Enhances Value

Feb 19

Patterson-UTI Energy's (NASDAQ:PTEN) Dividend Will Be Increased To US$0.04

Feb 13

Shareholder Returns

	PTEN	US Energy Services	US Market
7D	-0.3%	-0.4%	1.1%
1Y	-27.8%	3.1%	11.7%

Return vs Industry: PTEN underperformed the US Energy Services industry which returned 3.1% over the past year.

Return vs Market: PTEN underperformed the US Market which returned 11.7% over the past year.

Price Volatility

Is PTEN's price volatile compared to industry and market?
PTEN volatility
PTEN Average Weekly Movement	5.7%
Energy Services Industry Average Movement	5.7%
Market Average Movement	6.1%
10% most volatile stocks in US Market	15.5%
10% least volatile stocks in US Market	2.9%

Stable Share Price: PTEN is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 6% a week.

Volatility Over Time: PTEN's weekly volatility (6%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
1978	6,500	Andy Hendricks	https://www.patenergy.com

Patterson-UTI Energy, Inc., through its subsidiaries, provides contract drilling services to oil and natural gas operators in the United States and internationally. It operates through three segments: Contract Drilling Services, Pressure Pumping Services, and Directional Drilling Services. The Contract Drilling Services segment markets its contract drilling services primarily in west Texas, Appalachia, Rockies, Oklahoma, South Texas, East Texas, and Colombia.

Patterson-UTI Energy, Inc. Fundamentals Summary

How do Patterson-UTI Energy's earnings and revenue compare to its market cap?
PTEN fundamental statistics
Market Cap	US$4.91b
Earnings (TTM)	US$284.44m
Revenue (TTM)	US$3.35b

17.3x

P/E Ratio

1.5x

P/S Ratio

Is PTEN overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
PTEN income statement (TTM)
Revenue	US$3.35b
Cost of Revenue	US$2.21b
Gross Profit	US$1.14b
Other Expenses	US$858.16m
Earnings	US$284.44m

Last Reported Earnings

Sep 30, 2023

Next Earnings Date

n/a

Earnings per share (EPS)	0.68
Gross Margin	34.10%
Net Profit Margin	8.49%
Debt/Equity Ratio	25.5%

How did PTEN perform over the long term?

See historical performance and comparison

Dividends

2.7%

Current Dividend Yield

26%

Payout Ratio

PTEN Stock Overview

Rewards

Risk Analysis

Patterson-UTI Energy, Inc. Competitors

NYSE:NE

US$6.6b

NYSE:HP

US$3.6b

NYSE:VAL

US$5.1b

NYSE:DO

US$1.4b

Price History & Performance

Recent News & Updates

Upcoming dividend of US$0.08 per share at 2.7% yield

Consensus EPS estimates increase by 15%

Additional Considerations Required While Assessing Patterson-UTI Energy's (NASDAQ:PTEN) Strong Earnings

Consensus EPS estimates fall by 37%

New minor risk - Financial position

Third quarter 2023 earnings released: EPS: US$0 (vs US$0.28 in 3Q 2022)

Recent updates

Upcoming dividend of US$0.08 per share at 2.7% yield

Consensus EPS estimates increase by 15%

Additional Considerations Required While Assessing Patterson-UTI Energy's (NASDAQ:PTEN) Strong Earnings

Consensus EPS estimates fall by 37%

New minor risk - Financial position

Third quarter 2023 earnings released: EPS: US$0 (vs US$0.28 in 3Q 2022)

Patterson-UTI Energy, Inc. Declares Quarterly Dividend, Payable on December 15, 2023

Are Investors Undervaluing Patterson-UTI Energy, Inc. (NASDAQ:PTEN) By 40%?

Investor sentiment deteriorates as stock falls 19%

Less than half of directors are independent

Consensus revenue estimates increase by 14%

Senior VP recently sold US$599k worth of stock

New major risk - Shareholder dilution

Senior VP notifies of intention to sell stock

Growth Investors: Industry Analysts Just Upgraded Their Patterson-UTI Energy, Inc. (NASDAQ:PTEN) Revenue Forecasts By 36%

Consensus revenue estimates increase by 36%

Patterson-UTI Energy, Inc. (NasdaqGS:PTEN) completed the acquisition of NexTier Oilfield Solutions Inc. (NYSE:NEX) from Cerberus Capital Management, L.P., Keane Investor Holdings LLC and others in a merger of equals.

Upcoming dividend of US$0.08 per share at 2.2% yield

These 4 Measures Indicate That Patterson-UTI Energy (NASDAQ:PTEN) Is Using Debt Reasonably Well

New minor risk - Shareholder dilution

Patterson-UTI Energy, Inc. (NasdaqGS:PTEN) completed the acquisition of Ulterra Drilling Technologies, L.P. from affiliates of Blackstone Energy Partners.

Consensus EPS estimates fall by 16%

An Intrinsic Calculation For Patterson-UTI Energy, Inc. (NASDAQ:PTEN) Suggests It's 27% Undervalued

New major risk - Revenue and earnings growth

Second quarter 2023 earnings: EPS and revenues miss analyst expectations

Patterson-UTI Energy, Inc. Declares Quarterly Dividend, Payable on September 21, 2023

President notifies of intention to sell stock

Investor sentiment improves as stock rises 16%

Patterson-UTI Energy, Inc. (NasdaqGS:PTEN) entered into a definitive agreement to acquire Ulterra Drilling Technologies, L.P. from affiliates of Blackstone Energy Partners for approximately $800 million.

Patterson-UTI Energy, Inc. (NasdaqGS:PTEN) entered into a definitive agreement to acquire Ulterra Drilling Technologies, L.P. for consideration approximately $800 million.

Patterson-UTI Energy, Inc.(NasdaqGS:PTEN) dropped from Russell Small Cap Comp Growth Index

Patterson-UTI Energy, Inc. (NasdaqGS:PTEN) entered into a definitive agreement to acquire NexTier Oilfield Solutions Inc. (NYSE:NEX) from Cerberus Capital Management, L.P., Keane Investor Holdings LLC and others for $2 billion in a merger of equals.

NexTier Oilfield and Patterson-UTI Energy Hold Merger Talks

Investor sentiment improves as stock rises 18%

Upcoming dividend of US$0.08 per share at 2.9% yield

President exercised options and sold US$7.4m worth of stock

Is Patterson-UTI Energy (NASDAQ:PTEN) Using Too Much Debt?

Price target decreased by 7.6% to US$18.17

First quarter 2023 earnings released: EPS: US$0.47 (vs US$0.13 loss in 1Q 2022)

Investor sentiment deteriorates as stock falls 16%

Upcoming dividend of US$0.08 per share at 2.4% yield

Full year 2022 earnings released: EPS: US$0.72 (vs US$3.37 loss in FY 2021)

Patterson-UTI Energy, Inc. Provides Earnings Guidance for the Year 2023

Patterson-UTI Energy, Inc. Provides Earnings Guidance for the Fourth Quarter of 2022

Patterson-UTI Energy, Inc. Promotes James "Mike" Holcomb as Chief Operating Officer

Forecast breakeven date pushed back to 2023

Upcoming dividend of US$0.08 per share

Patterson-UTI Energy's (NASDAQ:PTEN) Dividend Will Be Increased To $0.08

Price target increased to US$21.80

Patterson-UTI Energy (NASDAQ:PTEN) Has Announced That It Will Be Increasing Its Dividend To $0.08

President of UTI Drilling Company LLC recently sold US$267k worth of stock

Third quarter 2022 earnings released: EPS: US$0.28 (vs US$0.44 loss in 3Q 2021)

Patterson-UTI Energy, Inc. Announces Quarterly Cash Dividend, Payable on December 15, 2022

Patterson-UTI Energy Is Likely To Greatly Benefit From OPEC's Decision But It Remains Risky

Calculating The Intrinsic Value Of Patterson-UTI Energy, Inc. (NASDAQ:PTEN)

We Think Patterson-UTI Energy (NASDAQ:PTEN) Has A Fair Chunk Of Debt

Patterson-UTI Energy goes ex-dividend tomorrow

Upcoming dividend of US$0.04 per share

Price target increased to US$20.73