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PTEN 
Patterson-UTI Energy Inc (PTEN)
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Upturn Advisory Summary
02/26/2026: PTEN (1-star) has a low Upturn Star Rating. Not recommended to BUY.
Upturn Star Rating
Not Recommended Performance
These Stocks/ETFs, based on Upturn Advisory, consistently fall short of market performance, signaling caution before investing.
Number of Analysts
15 Analysts rated it
Moderately tracked stock, growing coverage, gaining market and investor attention.
1 Year Target Price $8.45
1 Year Target Price $8.45
| 5 | Strong Buy |
| 5 | Buy |
| 5 | Hold |
| 0 | Sell |
| 0 | Strong Sell |
Key Highlights
Company Size Mid-Cap Stock | Market Capitalization 3.19B USD | Price to earnings Ratio - | 1Y Target Price 8.45 |
Price to earnings Ratio - | 1Y Target Price 8.45 | ||
Volume (30-day avg) 15 | Beta 0.73 | 52 Weeks Range 4.91 - 8.90 | Updated Date 02/26/2026 |
52 Weeks Range 4.91 - 8.90 | Updated Date 02/26/2026 | ||
Dividends yield (FY) 3.84% | Basic EPS (TTM) -0.24 |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Product revenue - Year on Year
Revenue by Geography
Geography revenue - Year on Year
Earnings Date
Report Date 2026-02-04 | When - | Estimate -0.12 | Actual -0.02 |
Profitability
Profit Margin -1.94% | Operating Margin (TTM) -2.44% |
Management Effectiveness
Return on Assets (TTM) -0.44% | Return on Equity (TTM) -2.78% |
Valuation
Trailing PE - | Forward PE 8.38 | Enterprise Value 3159898460 | Price to Sales(TTM) 0.66 |
Enterprise Value 3159898460 | Price to Sales(TTM) 0.66 | ||
Enterprise Value to Revenue 0.63 | Enterprise Value to EBITDA 34.65 | Shares Outstanding 379575200 | Shares Floating 344160834 |
Shares Outstanding 379575200 | Shares Floating 344160834 | ||
Percent Insiders 2.94 | Percent Institutions 114.62 |
Upturn AI SWOT
Patterson-UTI Energy Inc
Company Overview
History and Background
Patterson-UTI Energy, Inc. (NASDAQ: PTEN) was formed in 1978 and has evolved into a leading provider of oilfield services and equipment. The company has undergone significant growth through strategic acquisitions and organic expansion, positioning itself as a major player in the North American onshore oil and gas drilling sector. Key milestones include expansion into new service lines and geographic areas, adapting to industry cycles and technological advancements.
Core Business Areas
- Contract Drilling: Provides onshore contract drilling services in the United States and Canada, operating a large fleet of modern drilling rigs. This segment is a cornerstone of the company's operations, focusing on delivering efficient and reliable drilling solutions to exploration and production companies.
- Pressure Pumping: Offers hydraulic fracturing services, a critical component of unconventional oil and gas well completion. This segment utilizes a substantial fleet of fracturing fleets to stimulate production from oil and gas reservoirs.
- Rental and Other Services: Includes the provision of oilfield equipment rentals, drilling services support, and other related services to the oil and gas industry.
Leadership and Structure
Patterson-UTI Energy, Inc. is led by a seasoned executive team with extensive experience in the oil and gas industry. The company operates with a decentralized structure in certain areas to maintain operational flexibility and responsiveness to customer needs in different basins. Specific details on the CEO, CFO, and other key executives can be found in their investor relations materials and SEC filings.
Top Products and Market Share
Key Offerings
- Onshore Contract Drilling Services: Patterson-UTI operates a large and modern fleet of land drilling rigs, offering high-performance drilling capabilities. While specific market share data for individual services is proprietary, the company is considered one of the top providers in the US onshore market. Key competitors include Nabors Industries (NBR), Helmerich & Payne (HP), and Ensign Group ( suami).
- Hydraulic Fracturing Services: The company provides comprehensive hydraulic fracturing services, essential for unlocking production from shale plays. Patterson-UTI is a significant player in this segment, facing competition from companies like Schlumberger (SLB), Halliburton (HAL), and Baker Hughes (BKR).
Market Dynamics
Industry Overview
The oilfield services industry is cyclical and highly dependent on crude oil and natural gas prices, exploration and production (E&P) company capital expenditure budgets, and regulatory environments. Demand for drilling and completion services is driven by the need to maintain and grow energy production to meet global demand. Technological advancements, such as longer laterals and advanced fracking techniques, continue to shape the industry.
Positioning
Patterson-UTI Energy is a leading provider of onshore contract drilling and pressure pumping services in North America. Its competitive advantages include a large, modern fleet of rigs and fracturing fleets, strong customer relationships, operational efficiency, and a focus on safety and environmental performance. The company's scale allows it to benefit from economies of scale and negotiate favorable terms with suppliers.
Total Addressable Market (TAM)
The Total Addressable Market for onshore oil and gas drilling and completion services in North America is substantial, driven by ongoing energy demand. While estimates vary, the TAM is in the tens of billions of dollars annually. Patterson-UTI Energy is a significant participant in this market, aiming to capture a substantial portion of this TAM through its comprehensive service offerings and strategic positioning.
Upturn SWOT Analysis
Strengths
- Extensive and modern fleet of drilling rigs and fracturing equipment.
- Strong operational expertise and experienced workforce.
- Long-standing customer relationships with major E&P companies.
- Geographic diversification within key North American basins.
- Focus on safety and operational efficiency.
Weaknesses
- Exposure to commodity price volatility.
- High capital expenditure requirements for fleet maintenance and upgrades.
- Dependence on the North American onshore market.
- Potential for oversupply of equipment during industry downturns.
Opportunities
- Increased E&P capital spending driven by favorable energy prices.
- Technological advancements leading to increased demand for efficient services.
- Potential for expansion into new geographic markets or service lines.
- Consolidation within the oilfield services industry.
- Increased demand for natural gas and its role in the energy transition.
Threats
- Prolonged periods of low oil and gas prices.
- Stricter environmental regulations impacting drilling and completion activities.
- Competition from other oilfield service providers.
- Geopolitical instability affecting global energy markets.
- Shifts towards renewable energy sources reducing long-term demand for fossil fuels.
Competitors and Market Share
Key Competitors
- Nabors Industries Ltd. (NBR)
- Helmerich & Payne, Inc. (HP)
- Pioneer Energy Services Corp. (PES - acquired by Patterson-UTI)
- APA Corporation (APA) - operates in E&P, indirectly competes for capital
- Diamondback Energy, Inc. (FANG) - operates in E&P, indirectly competes for capital
Competitive Landscape
Patterson-UTI competes in a fragmented but concentrated oilfield services market. Its advantages lie in its scale, modern fleet, and operational efficiency. However, it faces intense competition on pricing and service quality from other large, well-established players. The ability to secure long-term contracts and maintain high rig and fleet utilization rates are critical for success.
Major Acquisitions
Pioneer Energy Services Corp.
- Year: 2022
- Acquisition Price (USD millions): 219
- Strategic Rationale: The acquisition of Pioneer Energy Services expanded Patterson-UTI's contract drilling fleet and strengthened its position in the US onshore market, particularly in the Permian Basin. It also added complementary pressure pumping assets.
Growth Trajectory and Initiatives
Historical Growth: Patterson-UTI's historical growth has been driven by strategic acquisitions, expansion of its service fleet, and its ability to capitalize on periods of high drilling activity. The company has navigated various industry cycles, demonstrating resilience and adaptability. Growth has often been tied to the overall health of the North American oil and gas E&P sector.
Future Projections: Future growth projections for Patterson-UTI Energy are influenced by analyst expectations regarding oil and gas prices, E&P spending, and the demand for its services. Analysts typically provide estimates for revenue, EPS, and EBITDA, which serve as indicators of potential future growth. These projections are subject to change based on market developments.
Recent Initiatives: Recent initiatives by Patterson-UTI Energy likely include fleet modernization and optimization, strategic acquisitions to expand service offerings or market presence, and efforts to enhance operational efficiency and cost management. The company may also be investing in new technologies or exploring opportunities related to the energy transition.
Summary
Patterson-UTI Energy Inc. is a strong player in the North American onshore oil and gas services market, boasting a modern fleet and solid operational capabilities. Its core businesses of contract drilling and pressure pumping are well-positioned to benefit from recovering energy demand. However, the company remains susceptible to volatile commodity prices and intense industry competition. Continued focus on efficiency, strategic acquisitions, and adapting to evolving energy landscapes will be crucial for sustained success.
Similar Stocks
Sources and Disclaimers
Data Sources:
- Patterson-UTI Energy Inc. Investor Relations
- SEC Filings (10-K, 10-Q)
- Industry Analyst Reports
- Financial News Outlets (e.g., Bloomberg, Reuters, Wall Street Journal)
Disclaimers:
This analysis is based on publicly available information and is for informational purposes only. It does not constitute investment advice. Financial data and market share estimates are subject to change and may not be entirely precise. Investors should conduct their own due diligence before making any investment decisions.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About Patterson-UTI Energy Inc
Exchange NASDAQ | Headquaters Houston, TX, United States | ||
IPO Launch date 1993-11-02 | President, CEO & Director Mr. William Andrew Hendricks Jr. | ||
Sector Energy | Industry Oil & Gas Drilling | Full time employees 7900 | Website https://www.patenergy.com |
Full time employees 7900 | Website https://www.patenergy.com | ||
Patterson-UTI Energy, Inc., through its subsidiaries, provides drilling and completion services to oil and natural gas exploration and production companies in the United States, Canada, Colombia, and internationally. It operates through three segments: Drilling Services, Completion Services, and Drilling Products. The Contract Drilling Services segment engages in the provision of contract and directional drilling, and measurement-while-drilling (MWD) services in onshore oil and natural gas basins; supply and rental of downhole performance motors, such as Mpact drilling motors, and Mpower MWD systems; electrical controls and automation to the energy, marine, and mining industries; rig fleet evaluation; and drilling technology service. This segment also provides software and services, such as MWD Survey Fault Detection, Isolation and Recovery (FDIR) services, a data analytics technology to analyze MWD survey data in real-time and identify the position of a well; HiFi Nav, which enhances FDIR by targeting improved vertical placement of the directional well within the reservoir; and HiFi Guidance that utilizes trajectory optimization to determine optimal steering recommendations and placement within the reservoir. The Completion Services segment offers services for hydraulic fracturing, wireline and pumping, completion support, equipment, materials, and cementing, as well as involved in the power solutions natural gas fueling, and last mile logistics and storage businesses. The Drilling Products segment engages in the design, manufacture, sale, and rental of matrix and steel-bodied polycrystalline diamond compact drill bits. It also rents oilfield tools; and offers specialized services for land-based oil and natural gas drilling, completion, and workover activities. The company was founded in 1978 and is headquartered in Houston, Texas.
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