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 $16.81 (represents a 107.27% upside from PTEN’s last price of $8.11) 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 $16.81 based on 1-year price targets from 11 Wall Street analysts in the past 3 months, with a price target range of $23.00 to $10.50. This represents a potential 107.27% upside from PTEN's last price of $8.11.
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% | 47.97% |
| Oct 14, 2024 | Saurabh Pant | Bank of America Securities | $10.50 | $8.29 | 26.66% | 29.47% |
| Jul 16, 2024 | Stephen Gengaro | Stifel Nicolaus | $16.00 | $10.49 | 52.53% | 97.29% |
| Jul 15, 2024 | Luke Lemoine | Piper Sandler | $12.00 | $10.24 | 17.19% | 47.97% |
| May 06, 2024 | Luke Lemoine | Piper Sandler | $14.00 | $10.69 | 31.02% | 72.63% |
| Jul 06, 2022 | - | Citigroup | $21.00 | $13.00 | 61.54% | 158.94% |
| Jun 08, 2022 | - | Susquehanna | $23.00 | $19.67 | 16.93% | 183.60% |
| May 02, 2022 | - | Morgan Stanley | $20.00 | $16.14 | 23.92% | 146.61% |
| May 02, 2022 | - | Barclays | $20.00 | $16.44 | 21.65% | 146.61% |
| Apr 29, 2022 | - | RBC Capital | $20.00 | $17.39 | 14.98% | 146.61% |
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 47.97% increase from PTEN last price ($8.11).
Patterson-UTI Energy Price Target by Period
| 1M | 3M | 12M | |
|---|---|---|---|
| # Anlaysts | - | 2 | 5 |
| Avg Price Target | - | $11.25 | $12.90 |
| Last Closing Price | $8.11 | $8.11 | $8.11 |
| Upside/Downside | -100.00% | 38.72% | 59.06% |
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 $8.11. 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 |
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 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 | Jun 20 | Mar 20 | Dec 19 | Sep 19 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 | $250.38M | $445.93M | $492.30M | $598.45M |
| Avg Forecast | $1.40B | $1.41B | $1.38B | $1.34B | $1.31B | $1.33B | $1.30B | $1.27B | $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 | $239.73M | $439.30M | $486.42M | $604.01M |
| High Forecast | $1.49B | $1.50B | $1.47B | $1.43B | $1.39B | $1.41B | $1.39B | $1.33B | $1.33B | $1.32B | $1.41B | $1.51B | $1.54B | $1.09B | $830.53M | $803.23M | $808.91M | $677.69M | $567.74M | $511.02M | $436.47M | $352.99M | $293.07M | $239.59M | $218.09M | $196.98M | $239.73M | $439.30M | $486.42M | $604.01M |
| Low Forecast | $1.33B | $1.34B | $1.31B | $1.27B | $1.24B | $1.26B | $1.23B | $1.19B | $1.20B | $1.26B | $1.41B | $1.51B | $1.45B | $977.91M | $739.97M | $715.65M | $720.70M | $677.69M | $567.74M | $511.02M | $436.47M | $352.99M | $293.07M | $239.59M | $218.09M | $196.98M | $239.73M | $439.30M | $486.42M | $604.01M |
| # Analysts | 3 | 3 | 4 | 5 | 4 | 5 | 2 | 7 | 9 | 4 | 5 | 4 | 8 | 6 | 3 | 3 | 4 | 4 | 4 | 4 | 3 | 3 | 3 | 3 | 3 | 10 | 10 | 10 | 9 | 9 |
| 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% | 1.04% | 1.02% | 1.01% | 0.99% |
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 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 | Jun 20 | Mar 20 | Dec 19 | Sep 19 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # Analysts | 3 | 3 | 4 | 5 | 4 | 5 | 2 | 7 | 9 | 4 | 5 | 4 | 8 | 6 | 3 | 3 | 4 | 4 | 4 | 4 | 3 | 3 | 3 | 3 | 3 | 10 | 10 | 10 | 9 | 9 |
| 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 | $14.42M | $-493.67M | $-81.17M | $-305.49M |
| Avg Forecast | $193.98M | $195.57M | $190.83M | $185.79M | $180.55M | $184.04M | $180.23M | $174.92M | $171.47M | $178.22M | $194.70M | $120.31M | $208.36M | $143.52M | $108.06M | $128.67M | $52.13M | $-96.22M | $-80.61M | $137.62M | $-61.97M | $-50.12M | $-41.61M | $34.87M | $-30.96M | $-27.97M | $-34.04M | $-515.13M | $-69.06M | $-85.75M |
| High Forecast | $206.09M | $207.78M | $202.74M | $197.38M | $191.83M | $195.53M | $191.48M | $183.32M | $184.12M | $182.88M | $194.70M | $144.37M | $212.53M | $150.27M | $114.80M | $154.41M | $62.56M | $-96.22M | $-80.61M | $165.14M | $-61.97M | $-50.12M | $-41.61M | $41.85M | $-30.96M | $-27.97M | $-34.04M | $-412.11M | $-69.06M | $-85.75M |
| Low Forecast | $183.62M | $185.12M | $180.64M | $175.86M | $170.91M | $174.21M | $170.60M | $165.12M | $165.85M | $173.56M | $194.70M | $96.25M | $200.02M | $135.18M | $102.28M | $102.94M | $41.70M | $-96.22M | $-80.61M | $110.09M | $-61.97M | $-50.12M | $-41.61M | $27.90M | $-30.96M | $-27.97M | $-34.04M | $-618.16M | $-69.06M | $-85.75M |
| Surprise % | - | - | - | - | - | - | - | - | - | - | - | - | 1.94% | 1.24% | 1.07% | 2.00% | 2.23% | -0.78% | -0.43% | -0.11% | -0.84% | -1.02% | -0.85% | 1.02% | -0.96% | -1.56% | -0.42% | 0.96% | 1.18% | 3.56% |
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 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 | Jun 20 | Mar 20 | Dec 19 | Sep 19 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # Analysts | 3 | 3 | 4 | 5 | 4 | 5 | 2 | 7 | 9 | 4 | 5 | 4 | 8 | 6 | 3 | 3 | 4 | 4 | 4 | 4 | 3 | 3 | 3 | 3 | 3 | 10 | 10 | 10 | 9 | 9 |
| 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 | $-150.33M | $-434.72M | $-85.92M | $-261.72M |
| Avg Forecast | $39.87M | $42.11M | $28.95M | $13.61M | $8.51M | $10.26M | $-1.80M | $-19.08M | $-27.92M | $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 | $-232.18M | $-453.62M | $-166.10M | $-121.70M |
| High Forecast | $43.11M | $45.53M | $31.30M | $14.72M | $9.20M | $11.09M | $-1.67M | $-9.54M | $-13.96M | $5.76M | $32.51M | $-27.79M | $123.89M | $144.52M | $186.85M | $-29.73M | $-291.11M | $71.05M | $-9.64M | $-31.79M | $-140.81M | $-177.26M | $-206.61M | $-83.61M | $-247.49M | $-247.00M | $-232.18M | $-362.90M | $-166.10M | $-121.70M |
| Low Forecast | $37.10M | $39.18M | $26.94M | $12.67M | $7.92M | $9.55M | $-1.94M | $-31.80M | $-38.39M | $4.96M | $30.92M | $-41.69M | $55.95M | $48.18M | $160.82M | $-44.59M | $-436.67M | $71.05M | $-9.64M | $-47.69M | $-140.81M | $-177.26M | $-206.61M | $-125.42M | $-247.49M | $-247.00M | $-232.18M | $-544.35M | $-166.10M | $-121.70M |
| 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% | 0.65% | 0.96% | 0.52% | 2.15% |
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 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 | Jun 20 | Mar 20 | Dec 19 | Sep 19 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # Analysts | 3 | 3 | 4 | 5 | 4 | 5 | 2 | 7 | 9 | 4 | 5 | 4 | 8 | 6 | 3 | 3 | 4 | 4 | 4 | 4 | 3 | 3 | 3 | 3 | 3 | 10 | 10 | 10 | 9 | 9 |
| 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 | $23.99M | $31.15M | $31.83M | $34.23M |
| Avg Forecast | $82.56M | $83.24M | $81.22M | $79.07M | $76.85M | $78.33M | $76.71M | $74.45M | $72.98M | $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 | $14.10M | $32.50M | $28.62M | $35.54M |
| High Forecast | $87.72M | $88.43M | $86.29M | $84.01M | $81.64M | $83.22M | $81.50M | $78.02M | $78.37M | $77.84M | $82.87M | $39.78M | $90.46M | $63.96M | $48.86M | $42.55M | $29.21M | $39.87M | $33.40M | $45.51M | $25.68M | $20.77M | $17.24M | $27.14M | $12.83M | $11.59M | $14.10M | $39.00M | $28.62M | $35.54M |
| Low Forecast | $78.15M | $78.79M | $76.88M | $74.85M | $72.74M | $74.15M | $72.61M | $70.28M | $70.59M | $73.87M | $82.87M | $26.52M | $85.13M | $57.53M | $43.53M | $28.37M | $19.48M | $39.87M | $33.40M | $30.34M | $25.68M | $20.77M | $17.24M | $18.09M | $12.83M | $11.59M | $14.10M | $26.00M | $28.62M | $35.54M |
| 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% | 1.70% | 0.96% | 1.11% | 0.96% |
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 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 | Jun 20 | Mar 20 | Dec 19 | Sep 19 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # Analysts | 3 | 3 | 4 | 5 | 4 | 5 | 2 | 7 | 9 | 4 | 5 | 4 | 8 | 6 | 3 | 3 | 4 | 4 | 4 | 4 | 3 | 3 | 3 | 3 | 3 | 10 | 10 | 10 | 9 | 9 |
| 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 | $-0.81 | $-2.28 | $-0.44 | $-1.31 |
| Avg Forecast | $0.10 | $0.11 | $0.07 | $0.03 | $0.02 | $0.03 | $-0.00 | $-0.05 | $-0.07 | $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 | $-0.58 | $-0.46 | $-0.42 | $-0.30 |
| High Forecast | $0.11 | $0.12 | $0.08 | $0.04 | $0.02 | $0.03 | $-0.00 | $-0.02 | $-0.04 | $0.01 | $0.08 | $0.12 | $0.32 | $0.37 | $0.48 | $0.38 | $0.45 | $0.18 | $-0.02 | $-0.21 | $-0.35 | $-0.44 | $-0.52 | $-0.56 | $-0.62 | $-0.62 | $-0.58 | $-0.46 | $-0.42 | $-0.30 |
| Low Forecast | $0.09 | $0.10 | $0.07 | $0.03 | $0.02 | $0.02 | $-0.00 | $-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 | $-0.58 | $-0.46 | $-0.42 | $-0.30 |
| 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% | 1.39% | 4.97% | 1.06% | 4.30% |
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 | $3.94 | $9.00 | 128.43% | Buy |
| PTEN | Patterson-UTI Energy | $8.11 | $16.81 | 107.27% | Buy |
| NBR | Nabors Industries | $72.84 | $131.67 | 80.77% | Buy |
| NE | Noble | $33.43 | $57.50 | 72.00% | Buy |
| DO | Diamond Offshore Drilling | $13.99 | $22.00 | 57.26% | Buy |
| HP | Helmerich & Payne | $33.40 | $49.55 | 48.35% | Hold |
| RIG | Transocean | $4.20 | $6.12 | 45.71% | Buy |
| PDS | Precision Drilling | $62.77 | $71.33 | 13.64% | Buy |