PTEN Similar Chart Price Prediction
The price of PTEN is predicted to go up 9.74%, based on the high correlation periods with MUSA. The similarity of these two price pattern on the periods is 93.36%.
PTEN
MUSA
Up: 9.74%Similarity: 93.36%
PTEN Revenue Forecast
PTEN EPS Forecast
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PTEN VS S&P500
The merger with NexTier will expand firmwide profitability as the firms leverage their respective expertise to optimize operations, unlocking cross-selling opportunities in basins across the US.
Patterson's relatively high exposure to longer-term drilling contracts (about one to two years) will ensure the firm enjoys elevated contract pricing even after the industry supply/demand imbalance levels out.
Patterson's investment in ESG-friendly rig technology will keep its fleet in line with customers' preferences and may allow Patterson to command a price premium.
PTEN Analyst's Forecast
Stephen Gengaro
Stifel
Strong Buy
2025-01-06
Price Target
$14 → $13
Upside
+50.81%
Stifel analyst Stephen Gengaro lowered the firm's price target on Patterson-UTI to $13 from $14 and keeps a Buy rating on the shares. Heading into 2025, the firm expects "more of the same" in the Oil Services world as well limited macro-catalysts for the stocks, the analyst tells investors.
James Rollyson
Raymond James
Strong Buy
2024-10-25
Price Target
$12 → $11
Upside
+34.64%
Stephen Gengaro
Stifel
Strong Buy
2024-10-11
Price Target
$15 → $14
Upside
+68.88%
