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Patterson-UTI Energy Inc

Patterson-UTI Energy Inc

PTEN
$10.02USD↑+3.94%+0.38 today

MARKET CAP

3.8B

P/E (TTM)

—

FWD P/E

—

DAY RANGE

$10 – $10

52W RANGE

$5
$13

AI Summary

Stalk
Sell NowMedium

PTEN is in a Stage 4 decline characterized by persistent lower highs and lower lows under supply dominance. Although an extreme oversold bounce off the 200-day SMA has offered a short-term lift, the medium-term tradable side remains bearish. Rallies into the declining 9 and 21 EMA zone represent optimal sell points, so we recommend selling now into these dynamic resistances.

  • ↑Q1 revenue of $1.117B and $205M adjusted EBITDA indicate resilience.
  • ↑Investing in Emerald natural gas rigs aligns with LNG growth.
  • ↓Q1 net loss $25M ($0.06/share) weighs on margin recovery.
Full analysis →

The case for & against

Bull & Bear analysis

Bullish

Patterson-UTI Energy Inc. (NASDAQ: PTEN) is a prominent player in the North American oilfield services sector, specializing in drilling and completion services for oil and natural gas exploration and production. The company leans heavily into technology-driven solutions and operational excellence, navigating a rapidly evolving energy landscape. Currently, it focuses on enhancing its portfolio with sustainable and efficient solutions, particularly in the proactive shift towards natural gas amid rising demand for LNG.

Bull says

  • ↑Q1 revenue of $1.117B and $205M adjusted EBITDA indicate resilience.
  • ↑Investing in Emerald natural gas rigs aligns with LNG growth.
  • ↑Rig count set to rise to 92–95 by Q2 end, signaling demand recovery.
  • ↑Returns ≥50% of free cash flow plus $0.10 quarterly dividend reinforce shareholder focus.
  • ↑Positive analyst revisions and high oil-price sensitivity support upside.
  • ↑Book-to-price ratio ~1.20 suggests relative value opportunity.

Bear says

  • ↓Q1 net loss $25M ($0.06/share) weighs on margin recovery.
  • ↓Moderate leverage and $117M CapEx may strain balance sheet if revenue lags.
  • ↓Negative growth and profitability factors signal stalled momentum.
  • ↓Low institutional ownership suggests cautious investor sentiment.
  • ↓Geopolitical volatility in oil supply poses external shock risk.
  • ↓Slow demand recovery could limit pricing power despite rig guidance.

Investment themes with PTEN

Oil Services↑ +1.53%

Companies providing services to oil and gas industry

SLB · BKR · HAL
High Dividend Yield↑ +0.32%

Companies paying above-average dividends

AVGO · JPM · XOM

Earnings Call · Q1 2026 · Mgmt. Guidance

Updated 04-23-2026neutral

Transcript signals

Bull points

  • In our drilling services segment, first quarter revenue was $352 million and adjusted gross profit was $134 million. Revenue and adjusted gross profit included the previously mentioned $3 million of early contract termination payments.
  • For the second quarter in drilling services, we expect our rig count to average around 90 rigs, and we expect to exit the quarter above the average as we reactivate rigs in the back half of the quarter.
  • For the second quarter, we expect completion services adjusted gross profit to be approximately $105 million with near full utilization of our active assets.

Bear points

  • We reported a net loss attributable to common shareholders of $25 million, or $0.06 per share.
  • First quarter drilling products revenue was $80 million and adjusted gross profit was $33 million. Results reflected disruption in the Middle East related to the ongoing conflict and some cost inflation.
  • The current WTI strip exits 2027 at approximately $70, and if those prices hold, higher activity into 2027 becomes more likely.
Read full transcript analysis ›