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Patterson-UTI
PTEN

$10.31
0.48%
 

About: Patterson-UTI Energy is one of the largest land rig drilling contractors in the United States. Its 2023 merger with NexTier greatly expanded its pressure pumping operations, as well, and the firm now controls nearly 20% of the North American market for drilling and completions services. It also provides directional drilling services and tool rental services in most US onshore oil and gas basins.

Employees: 10,600

0
Funds holding %
of 6,702 funds
0
Analysts bullish %
of 8 analysts
News positive %

Fund manager confidence

Based on 2024 Q1 SEC filings by fund managers ($100M+ AUM)

33% more funds holding in top 10

Funds holding in top 10: 6 [Q4 2023] → 8 (+2) [Q1 2024]

11% more first-time investments, than exits

New positions opened: 70 | Existing positions closed: 63

8% more capital invested

Capital invested by funds: $4.26B [Q4 2023] → $4.58B (+$320M) [Q1 2024]

2% more funds holding

Funds holding: 353 [Q4 2023] → 360 (+7) [Q1 2024]

0.4% less ownership

Funds ownership: 94.53% [Q4 2023] → 94.13% (-0.4%) [Q1 2024]

2% less repeat investments, than reductions

Existing positions increased: 124 | Existing positions reduced: 127

93% less call options, than puts

Call options by funds: $16.3M | Put options by funds: $236M

Research analyst outlook

8 Wall Street Analysts provided 1 year price forecasts over the past 6 months

Low target
$14
36%
upside
Avg. target
$15.75
53%
upside
High target
$18
75%
upside

8 analyst ratings

positive
100%
neutral
0%
negative
0%
Piper Sandler
Luke Lemoine
36%upside
$14
Overweight
Maintained
6 May 2024
Evercore ISI Group
Jason Bandel
65%upside
$17
Outperform
Maintained
3 May 2024
B of A Securities
Chase Mulvehill
36%upside
$14
Buy
Maintained
15 Apr 2024
Susquehanna
Charles Minervino
55%upside
$16
Positive
Maintained
8 Apr 2024
Susquehanna
Charles Minervino
55%upside
$16
Positive
Maintained
1 Apr 2024

Financial journalist opinion