Patterson-UTIPTEN
About: Patterson-UTI Energy Inc is one of the substantial land rig drilling contractors in the United States. Its 2023 merger with NexTier greatly expanded its pressure pumping operations, as well, and the firm now controls nearly 20% of the North American market for drilling and completions services. The company operates under three reportable business segments: (i) drilling services, (ii) completion services, and (iii) drilling products. It also provides directional drilling services and tool rental services in united states onshore oil and gas basins.
Employees: 10,600
Fund manager confidence
Based on 2024 Q4 regulatory filings by fund managers ($100M+ AUM)
15% more repeat investments, than reductions
Existing positions increased: 133 | Existing positions reduced: 116
13% more capital invested
Capital invested by funds: $2.95B [Q3] → $3.33B (+$379M) [Q4]
5.14% more ownership
Funds ownership: 98.1% [Q3] → 103.24% (+5.14%) [Q4]
0% more funds holding in top 10
Funds holding in top 10: 2 [Q3] → 2 (+0) [Q4]
0% more first-time investments, than exits
New positions opened: 59 | Existing positions closed: 59
3% less funds holding
Funds holding: 364 [Q3] → 354 (-10) [Q4]
57% less call options, than puts
Call options by funds: $12.6M | Put options by funds: $29.5M
Research analyst outlook
1 Wall Street Analyst provided 1 year price targets over the past 3 months
1 analyst rating
Stifel Stephen Gengaro 52% 1-year accuracy 47 / 91 met price target | 56%upside $13 | Buy Maintained | 6 Jan 2025 |
Financial journalist opinion
Based on 9 articles about PTEN published over the past 30 days
