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.
Patterson-UTI (PTEN) reported earnings 30 days ago. What's next for the stock?
Patterson-UTI Energy, Inc. (NASDAQ:PTEN ) Q3 2024 Earnings Call October 24, 2024 10:00 AM ET Company Participants Michael Sabella - Investor Relations Andy Hendricks - President and Chief Executive Officer Andy Smith - Chief Financial Officer Conference Call Participants Scott Gruber - Citigroup Stephen Gengaro - Stifel Keith MacKey - RBC Capital Markets Ati Modak - Goldman Sachs Arun Jayaram - JPMorgan Waqar Syed - ATB Connor Jensen - Raymond James Saurabh Pant - Bank of America Kurt Hallead - Benchmark Company Eddie Kim - Barclays Operator Good morning. Thank you for standing by.
Patterson-UTI (PTEN) reported break-even quarterly earnings per share versus the Zacks Consensus Estimate of $0.01. This compares to earnings of $0.20 per share a year ago.
Patterson-UTI (PTEN) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Patterson-UTI (PTEN) reported earnings 30 days ago. What's next for the stock?
Patterson-UTI (PTEN) anticipates to generate 40% of its free cash flow from adjusted EBITDA by 2024.
Patterson-UTI (PTEN) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Patterson-UTI (PTEN) is expected to report higher revenues from the year-ago period's level. Despite this increase, the company is anticipated to see a lower bottom line due to rising costs.
Patterson-UTI's (PTEN) subsidiary, Patterson-UTI International Holdings, Inc., partners with ADNOC Drilling for a UAE project, enhancing oilfield operations with U.S. shale expertise and strategic growth.