Patterson-UTIPTEN
About: Patterson-UTI Energy Inc is one of the substantial 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. The company operates under three reportable business segments: (i) drilling services, (ii) completion services, and (iii) drilling products. It also provides directional drilling services and tool rental services in united states onshore oil and gas basins.
Employees: 10,600
Fund manager confidence
Based on 2024 Q4 regulatory disclosures by fund managers ($100M+ AUM)
20% more repeat investments, than reductions
Existing positions increased: 138 | Existing positions reduced: 115
14% more capital invested
Capital invested by funds: $2.93B [Q3] → $3.34B (+$411M) [Q4]
6.16% more ownership
Funds ownership: 97.4% [Q3] → 103.56% (+6.16%) [Q4]
8% more first-time investments, than exits
New positions opened: 64 | Existing positions closed: 59
0% more funds holding in top 10
Funds holding in top 10: 2 [Q3] → 2 (+0) [Q4]
1% less funds holding
Funds holding: 364 [Q3] → 362 (-2) [Q4]
57% less call options, than puts
Call options by funds: $12.8M | Put options by funds: $29.5M
Research analyst outlook
5 Wall Street Analysts provided 1 year price targets over the past 3 months
5 analyst ratings
Barclays David Anderson 30% 1-year accuracy 27 / 89 met price target | 42%upside $8 | Overweight Maintained | 28 Apr 2025 |
Stifel Stephen Gengaro 42% 1-year accuracy 43 / 103 met price target | 113%upside $12 | Buy Maintained | 15 Apr 2025 |
Susquehanna Charles Minervino 44% 1-year accuracy 29 / 66 met price target | 60%upside $9 | Positive Maintained | 14 Apr 2025 |
Goldman Sachs Ati Modak 50% 1-year accuracy 2 / 4 met price target | 42%upside $8 | Neutral Maintained | 10 Apr 2025 |
Morgan Stanley Daniel Kutz 60% 1-year accuracy 3 / 5 met price target | 60%upside $9 | Equal-Weight Maintained | 27 Mar 2025 |
Financial journalist opinion
Based on 8 articles about PTEN published over the past 30 days
