Patterson-UTIPTEN
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
Fund manager confidence
Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)
31% more repeat investments, than reductions
Existing positions increased: 149 | Existing positions reduced: 114
14% more first-time investments, than exits
New positions opened: 58 | Existing positions closed: 51
1% more funds holding
Funds holding: 359 [Q2] → 363 (+4) [Q3]
3.38% less ownership
Funds ownership: 101.47% [Q2] → 98.1% (-3.38%) [Q3]
30% less capital invested
Capital invested by funds: $4.22B [Q2] → $2.95B (-$1.27B) [Q3]
78% less funds holding in top 10
Funds holding in top 10: 9 [Q2] → 2 (-7) [Q3]
91% less call options, than puts
Call options by funds: $14.4M | Put options by funds: $154M
Research analyst outlook
1 Wall Street Analyst provided 1 year price targets over the past 3 months
1 analyst rating
Stifel Stephen Gengaro 46% 1-year accuracy 40 / 87 met price target | 55%upside $13 | Buy Maintained | 6 Jan 2025 |
Financial journalist opinion
Based on 8 articles about PTEN published over the past 30 days









