RBC Capital analyst Keith Mackey maintained a Hold rating on Patterson-Uti Energy on Friday, setting a price target of $12, which is approximately 65.52% above the present share price of $7.25.
Mackey expects Patterson-Uti Energy to post earnings per share (EPS) of -$0.44 for the fourth quarter of 2021.
The current consensus among 5 TipRanks analysts is for a Moderate Buy rating of shares in Patterson-UTI (NASDAQ:PTEN), with an average price target of $10.7.
The analysts price targets range from a high of $12 to a low of $10.
In its latest earnings report, released on 09/30/2021, the company reported a quarterly revenue of $357.89 million and a net profit of -$89.09 million. The company's market cap is $1.56 billion.
According to TipRanks.com, RBC Capital analyst Keith Mackey is currently ranked with 4 stars on a 0-5 stars ranking scale, with an average return of 19.7% and a 57.45% success rate.
Patterson-UTI Energy, Inc. engages in the provision of onshore contract drilling services to major and independent oil and natural gas operators. It operates through the following segments: Contract Drilling Services, Pressure Pumping Services, and Directional Drilling Services. The Contract Drilling Services segment markets its services to major and independent oil and natural gas operators. The Pressure Pumping Services segment provides pressure pumping services to oil and natural gas operators primarily in Texas and the Appalachian Basin. The Directional Drilling Services segment offers downhole performance motors and equipment to provide services including directional drilling, downhole performance motors, motor rentals, directional surveying, measurement-while-drilling, and wireline steering tools, in most major onshore oil and natural gas basins. The company was founded by Cloyce A. Talbott and A. Glenn Patterson in 1978 and is headquartered in Houston, TX.