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Patterson-UTI Energy Inc

Patterson-UTI Energy Inc

PTEN
$12.85USD↓-0.39%-0.05 today

MARKET CAP

4.9B

P/E (TTM)

—

FWD P/E

—

DAY RANGE

$13 – $13

52W RANGE

$5
$13

AI Summary

Stalk
Buy NowMedium

PTEN remains in a Stage 2 advancing uptrend with clear higher highs and higher lows above rising EMAs. Recently, price has pulled back into the 9/21 EMA zone following early-September exhaustion signs, offering a tactical entry opportunity. Medium-term structure and momentum support a bullish bias, while short-term exhaustion risk warrants buying into the pullback. A sustained break below the rising EMA zone would invalidate the bullish setup.

  • ↑Q2 2026 revenue up 10% to $1.23 B; adjusted EBITDA $232 M.
  • ↑New contract pricing rose 10–15% sequentially amid tight rig supply.
  • ↓Q2 net loss $20 M ($0.05/sh) including non-cash exit charges.
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The case for & against

Bull & Bear analysis

Bullish

Patterson-UTI Energy, Inc. (NASDAQ: PTEN) is a leading provider of oilfield services with a focus on drilling and completion solutions primarily in the U.S. shale market. The company operates a substantial fleet of high-specification rigs and completion technologies, positioning itself favorably amidst the evolving energy landscape characterized by fluctuating demand and commodity price volatility. With a strong emphasis on operational efficiency and technology integration, Patterson-UTI aims to maximize value for its clients while driving shareholder returns, particularly as natural gas market dynamics continue to strengthen and expand globally.

Bull says

  • ↑Q2 2026 revenue up 10% to $1.23 B; adjusted EBITDA $232 M.
  • ↑New contract pricing rose 10–15% sequentially amid tight rig supply.
  • ↑Expected free cash flow to exceed 2026 dividends of $0.10/sh.
  • ↑EOS digital completions platform and fleet upgrades boosting efficiency.
  • ↑Colombia exit refocuses capital on U.S. high-return natural gas.
  • ↑High oil sensitivity and strong momentum factors support upside.

Bear says

  • ↓Q2 net loss $20 M ($0.05/sh) including non-cash exit charges.
  • ↓Elevated short interest signals investor skepticism on profitability.
  • ↓Customer caution amid geopolitical risks limits new drilling contracts.
  • ↓Heavy reliance on oil prices exposes revenue to market volatility.
  • ↓High interest-rate sensitivity could raise borrowing costs and hurt FCF.
  • ↓Negative earnings and dividend yields indicate unstable shareholder returns.

Investment themes with PTEN

Oil Services↑ +0.18%

Companies providing services to oil and gas industry

SLB · BKR · HAL
High Dividend Yield↓ -0.51%

Companies paying above-average dividends

AVGO · JPM · XOM

Earnings Call · Q2 2025 · Mgmt. Guidance

Updated 08-16-2026neutral

Transcript signals

Bull points

  • During the first half of the year, we generated $70 million of adjusted free cash flow.
  • We expect working capital will be a tailwind in the second half of the year.
  • However, we are still seeing strong demand for new technology in both our drilling and completions businesses related to digital and automation services.

Bear points

  • We reported a net loss attributable to common shareholders of $49 million, or 13 cents per share, which included a $28 million impairment related to our drilling operations in Columbia.
  • we expect an average of 48 rigs operating under term contracts during the third quarter of 2025, and an average of 27 rigs operating under term contracts over the four quarters ending June 30th, 2026.
  • we expect adjusted gross profit of approximately $130 million.
Read full transcript analysis ›