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A Closer Look at 4 Analyst Picks for Patterson-UTI Energy – Patterson-UTI Energy (NASDAQ:PTEN)

A Closer Look at 4 Analyst Picks for Patterson-UTI Energy – Patterson-UTI Energy (NASDAQ:PTEN)

4 analysts have different views on Patterson-UTI Energy PTEN A range of views have been presented over the last quarter, from bullish to bearish.

The table below summarizes recent ratings, showing changing sentiment over the past 30 days and comparing them to previous months.

Bull A little bit of bull Indifferent A Little Bear Bear
Total Points one 3 0 0 0
Last 30D 0 one 0 0 0
1M Ago 0 0 0 0 0
2M Ago 0 0 0 0 0
3M First one 2 0 0 0

Analyst reviews of 12-month price targets provide additional insights, such as the $14.5 average target, $17.00 high estimate, and $13.00 low estimate. In a downtrend, the current average is 8.69% lower than the previous $15.88 average price target.

Analyzing Analyst Ratings: A Detailed Look

By examining recent analyst actions, we gain insights into how financial experts perceive Patterson-UTI Energy. The summary below outlines key analysts, their recent evaluations, and adjustments to their ratings and price targets.

Analyst Analyst Firm Action Taken Evaluation Current Price Target Previous Price Target
Charles Minervino Susquehan It lowers Positive $13.00 $14.00
Luke Lemoine Piper Sandler It lowers Fat $14.00 $17.00
Jason Bandel Evercore ISI Group It lowers Superior performance $17.00 $18.00
Chasing Mulvehill B of A Securities It lowers To buy $14.00 $14.50

Basic knowledge:

  • Action Taken: Analysts adapt their recommendations to changing market conditions and company performance. Their stance of ‘Hold,’ ‘Raise,’ or ‘Reduce’ reflects their response to recent developments regarding Patterson-UTI Energy. This information provides a snapshot of how analysts perceive the company’s current health.
  • Evaluation: By uncovering insights, analysts provide qualitative insights on stock performance, ranging from ‘Outperform’ to ‘Underperform.’ These ratings convey expectations for Patterson-UTI Energy’s relative performance compared to the broader market.
  • Price Targets: Analysts who understand forecasts offer estimates for the future value of Patterson-UTI Energy. Examining current and previous targets provides insight into analysts’ changing expectations.

Considering these analyst ratings together with other financial indicators can provide a comprehensive understanding of Patterson-UTI Energy’s market position. Stay informed with our Ratings Table and make well-informed decisions.

Stay up to date on Patterson-UTI Energy analyst ratings.

Explaining the Story Behind Patterson-UTI Energy

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

Patterson-UTI Energy: An Introduction to Finance

Market capitalization: The company has a high market value, exceeding industry averages. This indicates significant size and strong market recognition.

Income increase: Patterson-UTI Energy’s revenue growth over a 3-month period has been remarkable. As of March 31, 2024, the company has achieved a revenue growth rate of approximately % 90.75%This represents a significant increase in the company’s top-line earnings. The company exceeded expectations with a higher-than-average growth rate among its peers in the Energy sector when compared to its competitors.

Net Profit Margin: The company’s net profit margin remains below industry benchmarks, indicating potential challenges in achieving strong profitability. With net profit margin 3.39%, The company may need to cope with difficulties in effective cost control.

Return on Equity (ROE): The company’s ROE is a standout performer, exceeding industry averages. With an impressive ROE 1.07%, The company demonstrates effective use of equity capital.

Return on Assets (ROA): The company’s ROA is a standout performer, exceeding industry averages. With an impressive ROA 0.7%, The company demonstrates efficient use of assets.

Debt management: Patterson-UTI Energy’s debt-to-equity ratio is below the industry average 0.28It shows a decreasing dependence on debt financing and a more conservative financial approach.

The Essence of Analyst Ratings: What Every Investor Should Know

Analysts who specialize in banking and financial systems specialize in reporting for specific stocks or defined sectors. Their extensive research involves attending company conference calls and meetings, analyzing financial statements and interacting with insiders to create what are known as analyst ratings for stocks. Typically, analysts evaluate and rate each stock on a quarterly basis.

Analysts can supplement their ratings with estimates for metrics such as growth estimates, earnings and revenue, giving investors a more comprehensive view. However, investors should remember that analysts, just like other people, have subjective perspectives that influence their estimates.

This article was generated by Benzinga’s automated content engine and reviewed by an editor.