Patterson-UTI Energy (PTEN) Stock Forecast, Price Target & Predictions
PTEN Stock Forecast
Patterson-UTI Energy stock forecast is as follows: an average price target of $12.63 (represents a 64.45% upside from PTEN’s last price of $7.68) and a rating consensus of 'Buy', based on 11 wall street analysts offering a 1-year stock forecast.
PTEN Price Target
The average price target for Patterson-UTI Energy (PTEN) is $12.63 based on 1-year price targets from 11 Wall Street analysts in the past 3 months, with a price target range of $16.00 to $10.50. This represents a potential 64.45% upside from PTEN's last price of $7.68.
PTEN Analyst Ratings
According to 11 Wall Street analysts, Patterson-UTI Energy's rating consensus is 'Buy'. The analyst rating breakdown for PTEN stock is 2 'Strong Buy' (18.18%), 8 'Buy' (72.73%), 1 'Hold' (9.09%), 0 'Sell' (0.00%), and 0 'Strong Sell' (0.00%).
Patterson-UTI Energy Price Target by Analyst
| Date | Analyst | Company | Price Target | Price when Published | Price Target/Price when Published | Price Target/Last Closing Price |
|---|---|---|---|---|---|---|
| Oct 16, 2024 | David Anderson | Barclays | $12.00 | $7.89 | 52.09% | 56.25% |
| Oct 14, 2024 | Saurabh Pant | Bank of America Securities | $10.50 | $8.29 | 26.66% | 36.72% |
| Jul 16, 2024 | Stephen Gengaro | Stifel Nicolaus | $16.00 | $10.49 | 52.53% | 108.33% |
| Jul 15, 2024 | Luke Lemoine | Piper Sandler | $12.00 | $10.24 | 17.19% | 56.25% |
| May 06, 2024 | Luke Lemoine | Piper Sandler | $14.00 | $10.69 | 31.02% | 82.29% |
| Jul 06, 2022 | Citigroup | $21.00 | $13.00 | 61.54% | 173.44% | |
| Jun 08, 2022 | Susquehanna | $23.00 | $19.67 | 16.93% | 199.48% | |
| May 02, 2022 | Morgan Stanley | $20.00 | $16.14 | 23.92% | 160.42% | |
| May 02, 2022 | Barclays | $20.00 | $16.44 | 21.65% | 160.42% | |
| Apr 29, 2022 | RBC Capital | $20.00 | $17.39 | 14.98% | 160.42% | |
| Feb 11, 2022 | Keith Mackey | RBC Capital | $14.00 | $12.74 | 9.89% | 82.29% |
The latest Patterson-UTI Energy stock forecast, released on Oct 16, 2024 by David Anderson from Barclays, set a price target of $12.00, which represents a 52.09% increase from the stock price at the time of the forecast ($7.89), and a 56.25% increase from PTEN last price ($7.68).
Patterson-UTI Energy Price Target by Period
| 1M | 3M | 12M | |
|---|---|---|---|
| # Anlaysts | - | 2 | 5 |
| Avg Price Target | - | $11.25 | $12.90 |
| Last Closing Price | $7.68 | $7.68 | $7.68 |
| Upside/Downside | -100.00% | 46.48% | 67.97% |
In the current month, the average price target of Patterson-UTI Energy stock is -, according to 0 Wall Street analyst offering twelve months forecast. The average price target represents a -100.00% decrease as opposed to Patterson-UTI Energy's last price of $7.68. This month's average price target is down -100.00% compared to last quarter, and down -100.00% compared to last year.
Analyst Ratings Upgrades/Downgrades
| Date | Company | Previous Rating | New Rating | Rating Change |
|---|---|---|---|---|
| Oct 16, 2024 | Barclays | Overweight | Overweight | Hold |
| Jul 26, 2024 | RBC Capital | Outperform | Outperform | Hold |
| Jul 15, 2024 | Piper Sandler | Overweight | Overweight | Hold |
| Jun 25, 2024 | Citigroup | Buy | Buy | Hold |
| May 06, 2024 | Piper Sandler | Overweight | Overweight | Hold |
| May 03, 2024 | RBC Capital | Underperform | Underperform | Hold |
| May 03, 2024 | Susquehanna | Buy | Buy | Hold |
| Apr 02, 2024 | CFRA | Strong Buy | Upgrade | |
| Apr 01, 2024 | RBC Capital | Underperform | Underperform | Hold |
| Apr 01, 2024 | Susquehanna | Strong Buy | Strong Buy | Hold |
| Feb 16, 2024 | Raymond James | Strong Buy | Strong Buy | Hold |
| Oct 09, 2023 | Goldman Sachs | Neutral | Downgrade | |
| Oct 09, 2023 | Jefferies | Buy | Upgrade | |
| Oct 09, 2023 | Oppenheimer | Perform | Downgrade | |
| Oct 09, 2023 | Citigroup | Neutral | Buy | Upgrade |
| Oct 02, 2023 | Raymond James | Strong Buy | Strong Buy | Hold |
| Jul 19, 2023 | Citigroup | Buy | Neutral | Downgrade |
| Jul 19, 2023 | Benchmark | Buy | Upgrade | |
| Jul 10, 2023 | RBC Capital | Sector Perform | Outperform | Upgrade |
| Jun 16, 2023 | RBC Capital | Sector Perform | Sector Perform | Hold |
| Jul 13, 2022 | Morgan Stanley | Overweight | Overweight | Hold |
| Jul 06, 2022 | Citigroup | Buy | Buy | Hold |
| Jun 08, 2022 | Susquehanna | Positive | Positive | Hold |
| May 02, 2022 | Morgan Stanley | Overweight | Overweight | Hold |
| May 02, 2022 | Barclays | Overweight | Overweight | Hold |
| Apr 29, 2022 | RBC Capital | Sector Perform | Sector Perform | Hold |
| Feb 11, 2022 | RBC Capital | Sector Perform | Sector Perform | Hold |
Patterson-UTI Energy's last stock rating was published by Barclays on Oct 16, 2024. The company gave PTEN a "Overweight" rating, the same as its previous rate.
Patterson-UTI Energy Financial Forecast
Patterson-UTI Energy Revenue Forecast
| Dec 27 | Sep 27 | Jun 27 | Mar 27 | Dec 26 | Sep 26 | Jun 26 | Mar 26 | Dec 25 | Sep 25 | Jun 25 | Mar 25 | Dec 24 | Sep 24 | Jun 24 | Mar 24 | Dec 23 | Sep 23 | Jun 23 | Mar 23 | Dec 22 | Sep 22 | Jun 22 | Mar 22 | Dec 21 | Sep 21 | Jun 21 | Mar 21 | Dec 20 | Sep 20 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | $1.58B | $1.01B | $758.88M | $791.80M | $788.48M | $727.50M | $622.24M | $509.38M | $466.49M | $357.88M | $291.77M | $240.93M | $220.80M | $207.14M |
| Avg Forecast | $1.39B | $1.43B | $1.40B | $1.37B | $1.38B | $1.40B | $1.37B | $1.33B | $1.31B | $1.34B | $1.30B | $1.26B | $1.24B | $1.29B | $1.41B | $1.51B | $1.51B | $1.04B | $781.73M | $756.04M | $761.38M | $677.69M | $567.74M | $511.02M | $436.47M | $352.99M | $293.07M | $239.59M | $218.09M | $196.98M |
| High Forecast | $1.47B | $1.51B | $1.47B | $1.44B | $1.45B | $1.47B | $1.44B | $1.40B | $1.37B | $1.41B | $1.37B | $1.32B | $1.33B | $1.32B | $1.41B | $1.51B | $1.54B | $1.09B | $822.73M | $795.69M | $801.32M | $677.69M | $567.74M | $511.02M | $436.47M | $352.99M | $293.07M | $239.59M | $218.09M | $196.98M |
| Low Forecast | $1.31B | $1.35B | $1.32B | $1.29B | $1.30B | $1.32B | $1.29B | $1.25B | $1.23B | $1.26B | $1.23B | $1.19B | $1.20B | $1.26B | $1.41B | $1.51B | $1.45B | $977.91M | $736.40M | $712.19M | $717.23M | $677.69M | $567.74M | $511.02M | $436.47M | $352.99M | $293.07M | $239.59M | $218.09M | $196.98M |
| # Analysts | 5 | 4 | 5 | 4 | 5 | 4 | 5 | 4 | 4 | 3 | 4 | 8 | 8 | 4 | 5 | 4 | 8 | 6 | 3 | 3 | 4 | 4 | 4 | 4 | 3 | 3 | 3 | 3 | 3 | 10 |
| Surprise % | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 1.05% | 0.97% | 0.97% | 1.05% | 1.04% | 1.07% | 1.10% | 1.00% | 1.07% | 1.01% | 1.00% | 1.01% | 1.01% | 1.05% |
Patterson-UTI Energy's average Quarter revenue forecast for Mar 24 based on 4 analysts is $1.51B, with a low forecast of $1.51B, and a high forecast of $1.51B. PTEN's average Quarter revenue forecast represents a -4.51% decrease compared to the company's last Quarter revenue of $1.58B (Dec 23).
Patterson-UTI Energy EBITDA Forecast
| Dec 27 | Sep 27 | Jun 27 | Mar 27 | Dec 26 | Sep 26 | Jun 26 | Mar 26 | Dec 25 | Sep 25 | Jun 25 | Mar 25 | Dec 24 | Sep 24 | Jun 24 | Mar 24 | Dec 23 | Sep 23 | Jun 23 | Mar 23 | Dec 22 | Sep 22 | Jun 22 | Mar 22 | Dec 21 | Sep 21 | Jun 21 | Mar 21 | Dec 20 | Sep 20 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # Analysts | 5 | 4 | 5 | 4 | 5 | 4 | 5 | 4 | 4 | 3 | 4 | 8 | 8 | 4 | 5 | 4 | 8 | 6 | 3 | 3 | 4 | 4 | 4 | 4 | 3 | 3 | 3 | 3 | 3 | 10 |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | $404.16M | $177.60M | $116.06M | $256.87M | $116.45M | $74.65M | $34.51M | $-15.42M | $51.84M | $51.11M | $35.46M | $35.51M | $29.61M | $43.50M |
| Avg Forecast | $186.76M | $191.58M | $187.56M | $183.00M | $184.55M | $187.45M | $183.67M | $177.67M | $174.99M | $178.99M | $174.74M | $169.35M | $165.87M | $172.73M | $188.70M | $120.31M | $201.94M | $139.10M | $104.73M | $128.67M | $52.13M | $-96.22M | $-80.61M | $137.62M | $-61.97M | $-50.12M | $-41.61M | $34.87M | $-30.96M | $-27.97M |
| High Forecast | $196.55M | $201.63M | $197.40M | $192.60M | $194.22M | $197.28M | $193.31M | $186.99M | $184.17M | $188.37M | $183.90M | $177.48M | $178.11M | $177.24M | $188.70M | $144.37M | $205.98M | $145.64M | $110.22M | $154.41M | $62.56M | $-96.22M | $-80.61M | $165.14M | $-61.97M | $-50.12M | $-41.61M | $41.85M | $-30.96M | $-27.97M |
| Low Forecast | $175.92M | $180.47M | $176.68M | $172.39M | $173.84M | $176.58M | $173.02M | $167.37M | $164.84M | $168.61M | $164.61M | $159.87M | $160.43M | $168.21M | $188.70M | $96.25M | $193.86M | $131.01M | $98.66M | $102.94M | $41.70M | $-96.22M | $-80.61M | $110.09M | $-61.97M | $-50.12M | $-41.61M | $27.90M | $-30.96M | $-27.97M |
| Surprise % | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 2.00% | 1.28% | 1.11% | 2.00% | 2.23% | -0.78% | -0.43% | -0.11% | -0.84% | -1.02% | -0.85% | 1.02% | -0.96% | -1.56% |
4 analysts predict PTEN's average Quarter EBITDA for Mar 24 to be $120.31M, with a high of $144.37M and a low of $96.25M. This is -70.23% lower than Patterson-UTI Energy's previous annual EBITDA (Dec 23) of $404.16M.
Patterson-UTI Energy Net Income Forecast
| Dec 27 | Sep 27 | Jun 27 | Mar 27 | Dec 26 | Sep 26 | Jun 26 | Mar 26 | Dec 25 | Sep 25 | Jun 25 | Mar 25 | Dec 24 | Sep 24 | Jun 24 | Mar 24 | Dec 23 | Sep 23 | Jun 23 | Mar 23 | Dec 22 | Sep 22 | Jun 22 | Mar 22 | Dec 21 | Sep 21 | Jun 21 | Mar 21 | Dec 20 | Sep 20 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # Analysts | 5 | 4 | 5 | 4 | 5 | 4 | 5 | 4 | 4 | 3 | 4 | 8 | 8 | 4 | 5 | 4 | 8 | 6 | 3 | 3 | 4 | 4 | 4 | 4 | 3 | 3 | 3 | 3 | 3 | 10 |
| Net Income | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | $61.95M | $-278.00K | $84.61M | $99.68M | $100.10M | $61.45M | $21.89M | $-28.78M | $-364.36M | $-83.00M | $-103.31M | $-106.41M | $-106.53M | $-112.11M |
| Avg Forecast | $54.84M | $66.59M | $58.76M | $47.01M | $29.96M | $33.62M | $22.49M | $5.42M | $7.80M | $10.71M | $-4.73M | $-23.00M | $-31.16M | $5.33M | $31.72M | $-34.74M | $71.93M | $96.35M | $172.82M | $-37.16M | $-363.89M | $71.05M | $-9.64M | $-39.74M | $-140.81M | $-177.26M | $-206.61M | $-104.51M | $-247.49M | $-247.00M |
| High Forecast | $58.58M | $71.13M | $62.77M | $50.21M | $32.00M | $35.92M | $24.02M | $5.79M | $8.33M | $11.44M | $-4.38M | $-16.43M | $-27.70M | $5.70M | $32.51M | $-27.79M | $123.89M | $144.52M | $184.61M | $-29.73M | $-291.11M | $71.05M | $-9.64M | $-31.79M | $-140.81M | $-177.26M | $-206.61M | $-83.61M | $-247.49M | $-247.00M |
| Low Forecast | $50.71M | $61.57M | $54.33M | $43.46M | $27.70M | $31.09M | $20.79M | $5.01M | $7.21M | $9.90M | $-5.06M | $-32.86M | $-38.09M | $4.93M | $30.92M | $-41.69M | $55.95M | $48.18M | $159.80M | $-44.59M | $-436.67M | $71.05M | $-9.64M | $-47.69M | $-140.81M | $-177.26M | $-206.61M | $-125.42M | $-247.49M | $-247.00M |
| Surprise % | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 0.86% | -0.00% | 0.49% | -2.68% | -0.28% | 0.86% | -2.27% | 0.72% | 2.59% | 0.47% | 0.50% | 1.02% | 0.43% | 0.45% |
Patterson-UTI Energy's average Quarter net income forecast for Mar 24 is $-34.74M, with a range of $-41.69M to $-27.79M. PTEN's average Quarter net income forecast represents a -156.08% decrease compared to the company's last Quarter net income of $61.95M (Dec 23).
Patterson-UTI Energy SG&A Forecast
| Dec 27 | Sep 27 | Jun 27 | Mar 27 | Dec 26 | Sep 26 | Jun 26 | Mar 26 | Dec 25 | Sep 25 | Jun 25 | Mar 25 | Dec 24 | Sep 24 | Jun 24 | Mar 24 | Dec 23 | Sep 23 | Jun 23 | Mar 23 | Dec 22 | Sep 22 | Jun 22 | Mar 22 | Dec 21 | Sep 21 | Jun 21 | Mar 21 | Dec 20 | Sep 20 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # Analysts | 5 | 4 | 5 | 4 | 5 | 4 | 5 | 4 | 4 | 3 | 4 | 8 | 8 | 4 | 5 | 4 | 8 | 6 | 3 | 3 | 4 | 4 | 4 | 4 | 3 | 3 | 3 | 3 | 3 | 10 |
| SG&A | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | $61.88M | $45.10M | $33.26M | $30.57M | $34.58M | $28.47M | $26.08M | $27.46M | $24.21M | $22.06M | $23.55M | $23.03M | $20.92M | $23.18M |
| Avg Forecast | $82.01M | $84.13M | $82.37M | $80.37M | $81.04M | $82.32M | $80.66M | $78.02M | $76.85M | $78.60M | $76.74M | $74.37M | $72.84M | $75.85M | $82.87M | $33.15M | $88.68M | $61.09M | $45.99M | $35.46M | $24.34M | $39.87M | $33.40M | $37.92M | $25.68M | $20.77M | $17.24M | $22.62M | $12.83M | $11.59M |
| High Forecast | $86.31M | $88.54M | $86.69M | $84.58M | $85.29M | $86.64M | $84.89M | $82.12M | $80.88M | $82.72M | $80.76M | $77.94M | $78.22M | $77.84M | $82.87M | $39.78M | $90.46M | $63.96M | $48.40M | $42.55M | $29.21M | $39.87M | $33.40M | $45.51M | $25.68M | $20.77M | $17.24M | $27.14M | $12.83M | $11.59M |
| Low Forecast | $77.26M | $79.25M | $77.59M | $75.70M | $76.34M | $77.55M | $75.98M | $73.50M | $72.39M | $74.04M | $72.29M | $70.20M | $70.45M | $73.87M | $82.87M | $26.52M | $85.13M | $57.53M | $43.32M | $28.37M | $19.48M | $39.87M | $33.40M | $30.34M | $25.68M | $20.77M | $17.24M | $18.09M | $12.83M | $11.59M |
| Surprise % | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 0.70% | 0.74% | 0.72% | 0.86% | 1.42% | 0.71% | 0.78% | 0.72% | 0.94% | 1.06% | 1.37% | 1.02% | 1.63% | 2.00% |
Patterson-UTI Energy's average Quarter SG&A projection for Mar 24 is $33.15M, based on 4 Wall Street analysts, with a range of $26.52M to $39.78M. The forecast indicates a -46.42% fall compared to PTEN last annual SG&A of $61.88M (Dec 23).
Patterson-UTI Energy EPS Forecast
| Dec 27 | Sep 27 | Jun 27 | Mar 27 | Dec 26 | Sep 26 | Jun 26 | Mar 26 | Dec 25 | Sep 25 | Jun 25 | Mar 25 | Dec 24 | Sep 24 | Jun 24 | Mar 24 | Dec 23 | Sep 23 | Jun 23 | Mar 23 | Dec 22 | Sep 22 | Jun 22 | Mar 22 | Dec 21 | Sep 21 | Jun 21 | Mar 21 | Dec 20 | Sep 20 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # Analysts | 5 | 4 | 5 | 4 | 5 | 4 | 5 | 4 | 4 | 3 | 4 | 8 | 8 | 4 | 5 | 4 | 8 | 6 | 3 | 3 | 4 | 4 | 4 | 4 | 3 | 3 | 3 | 3 | 3 | 10 |
| EPS | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | $0.15 | $-0.00 | $0.41 | $0.47 | $0.46 | $0.28 | $0.10 | $-0.13 | $-1.69 | $-0.44 | $-0.55 | $-0.57 | $-0.57 | $-0.60 |
| Avg Forecast | $0.14 | $0.17 | $0.15 | $0.12 | $0.08 | $0.09 | $0.06 | $0.01 | $0.02 | $0.03 | $-0.01 | $-0.06 | $-0.08 | $0.01 | $0.08 | $0.12 | $0.18 | $0.25 | $0.44 | $0.35 | $0.42 | $0.18 | $-0.02 | $-0.21 | $-0.35 | $-0.44 | $-0.52 | $-0.56 | $-0.62 | $-0.62 |
| High Forecast | $0.15 | $0.18 | $0.16 | $0.13 | $0.08 | $0.09 | $0.06 | $0.01 | $0.02 | $0.03 | $-0.01 | $-0.04 | $-0.07 | $0.01 | $0.08 | $0.12 | $0.32 | $0.37 | $0.47 | $0.38 | $0.45 | $0.18 | $-0.02 | $-0.21 | $-0.35 | $-0.44 | $-0.52 | $-0.56 | $-0.62 | $-0.62 |
| Low Forecast | $0.13 | $0.16 | $0.14 | $0.11 | $0.07 | $0.08 | $0.05 | $0.01 | $0.02 | $0.03 | $-0.01 | $-0.08 | $-0.10 | $0.01 | $0.08 | $0.12 | $0.14 | $0.12 | $0.41 | $0.33 | $0.39 | $0.18 | $-0.02 | $-0.21 | $-0.35 | $-0.44 | $-0.52 | $-0.56 | $-0.62 | $-0.62 |
| Surprise % | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 0.82% | -0.00% | 0.93% | 1.33% | 1.10% | 1.57% | -4.15% | 0.63% | 4.80% | 0.99% | 1.06% | 1.02% | 0.92% | 0.97% |
According to 4 Wall Street analysts, Patterson-UTI Energy's projected average Quarter EPS for Mar 24 is $0.12, with a low estimate of $0.12 and a high estimate of $0.12. This represents a -16.77% decrease compared to PTEN previous annual EPS of $0.15 (Dec 23).
Patterson-UTI Energy Peer Comparison by Price Target
| Ticker | Company | Last Closing Price | Avg Price Target | Upside/Downside | Avg Rating |
|---|---|---|---|---|---|
| BORR | Borr Drilling | $3.81 | $9.00 | 136.22% | Buy |
| PTEN | Patterson-UTI Energy | $7.34 | $12.63 | 72.07% | Buy |
| NBR | Nabors Industries | $59.85 | $95.00 | 58.73% | Buy |
| NE | Noble | $30.27 | $48.00 | 58.57% | Buy |
| HP | Helmerich & Payne | $32.64 | $48.50 | 48.59% | Hold |
| RIG | Transocean | $3.67 | $5.00 | 36.24% | Buy |
| PDS | Precision Drilling | $58.46 | $71.33 | 22.02% | Buy |