Patterson-UTI Energy, Inc. (PTEN) Stock Analysis
Energy · Oil & Gas Drilling
Sell if holding. Engine safety override at $10.35: Quality below floor (2.0 < 4.0) triggers a hard block regardless of the otherwise-positive setup — overall score 5.0/10. Specifically: Below-average business quality; Negative price momentum.
Patterson-UTI Energy provides contract drilling, completion services (hydraulic fracturing, wireline, cementing), and drilling products in the U.S. (and Colombia/Ecuador) through three segments. The top five customers represent 68.2% of 2025 revenue, led by ExxonMobil at 24.9%;... Read more
Sell if holding. Engine safety override at $10.35: Quality below floor (2.0 < 4.0) triggers a hard block regardless of the otherwise-positive setup — overall score 5.0/10. Specifically: Below-average business quality; Negative price momentum. Chart setup: No clear chart pattern; technical signals are mixed. Score 5.0/10, moderate confidence.
Passes 6/8 gates (clean insider activity, no SEC red flags, news boost analyst 0.40, earnings proximity 36d clear, semi cycle peak clear, materials cycle peak clear). Fails on weak momentum and favorable risk/reward ratio. Suitability: aggressive.
About Patterson-UTI Energy, Inc.
About Patterson-UTI Energy, Inc.
Patterson-UTI Energy averaged 100 drilling rigs per day in the United States in 2025 with a 152-rig marketed fleet—137 rated Tier-1 super-spec—covering the Permian, Appalachia, Eagle Ford, Haynesville, and Bakken/Rockies basins and international operations in Colombia and Ecuador. One customer generated approximately $597 million, or 12%, of 2025 consolidated operating revenues, with the ten largest customers representing 57% of total revenues. The US contract drilling backlog stood at approximately $291 million at December 31, 2025, down from $426 million a year earlier.
Patterson-UTI earns revenue across three segments: drilling services (daywork contracts and directional drilling for US, Colombian, and Ecuadoran operators), completion services (hydraulic fracturing, wireline, cementing, and power solutions in basins including the Permian, Marcellus/Utica, Eagle Ford, Haynesville, and Bakken/Rockies), and drilling products (PDC drill bits and downhole tools through the Ulterra business, sold or rented in over 30 countries from manufacturing sites in Fort Worth, Texas, Leduc, Alberta, and Saudi Arabia). Drilling contracts are structured as daywork—compensating the company at a contracted rate per day—or under performance-based terms pairing a lower base rate with incentive compensation for meeting operational targets. Based on contracts in place as of February 4, 2026, 49 rigs were expected to operate under term contracts in Q1 2026, with an average of 27 rigs under term contracts for the full year 2026. Supply risk is present in completion services, where acids, chemicals, and proppants are sourced from a limited number of suppliers and can be in short supply.
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Patterson-UTI's revenue is directly tied to oil and gas price expectations, as E&P customer drilling and completion budgets track commodity price sentiment. WTI averaged $59.62 per barrel in Q4 2025 and closed at $61.60 on February 2, 2026, levels the company notes contributed to industry-wide rig count declines. The US average active rig count fell from 112 in 2024 to 100 in 2025, and management projected the count to remain in the low-to-mid 90s in Q1 2026. OPEC+ began phasing out voluntary crude oil production cuts in Q2 2025, and prolonged trade tensions combined with sustained lower futures prices could weigh on customer capital spending and demand for the company's services.
See also: Energy · Oil & Gas Drilling
From Patterson-UTI Energy, Inc.'s most recent 10-K filing, extracted June 11, 2026.
Recent developments
updated 2026-06-17Recent Developments — Patterson-UTI Energy, Inc.
Latest news
- NEWS Stifel Maintains Buy on Patterson-UTI Energy, Raises Price Target to $15 — benzinga Jun 16, 2026 positive
- NEWS Goldman Sachs Maintains Buy on Patterson-UTI Energy, Raises Price Target to $13 — benzinga Jun 4, 2026 positive
- NEWS RBC Capital Maintains Outperform on Patterson-UTI Energy, Raises Price Target to $15 — benzinga May 29, 2026 positive
- NEWS Piper Sandler Maintains Neutral on Patterson-UTI Energy, Raises Price Target to $13 — benzinga May 27, 2026 neutral
- NEWS Susquehanna Maintains Positive on Patterson-UTI Energy, Raises Price Target to $14 — benzinga May 27, 2026 positive
Generated 2026-06-17T09:07:23Z.
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Rating Breakdown
3 floor-breakers
Cyclical trough — margins compressed or negative. Profitability typically recovers with the cycle, but floor fires on current data.static
Momentum below the gate floor. Component breakdown shows what dragged the score down.static
Ranks in the bottom of its industry peers on the composite signal. Better names in the same sector exist.static
Price Targets
Position Sizing
Risk Alerts
Earnings
Verdict History
Frequently Asked Questions
Sell if holding. Engine safety override at $10.35: Quality below floor (2.0 < 4.0) triggers a hard block regardless of the otherwise-positive setup — overall score 5.0/10. Specifically: Below-average business quality; Negative price momentum. Chart setup: No clear chart pattern; technical signals are mixed. Prior stop was $9.98. Score 5.0/10, moderate confidence.
Take-profit target: $11.47 (+10.8% upside). Prior stop was $9.98. Stop-loss: $9.98.
Quality below floor (2.0 < 4.0).
Patterson-UTI Energy, Inc. trades at a P/E of N/A (forward 108.0). TrendMatrix value score: 6.6/10. Verdict: Sell.
22 analysts cover PTEN with a consensus score of 3.7/5. Average price target: $13.
What does Patterson-UTI Energy, Inc. do?Patterson-UTI Energy provides contract drilling, completion services (hydraulic fracturing, wireline, cementing), and...
Patterson-UTI Energy provides contract drilling, completion services (hydraulic fracturing, wireline, cementing), and drilling products in the U.S. (and Colombia/Ecuador) through three segments. The top five customers represent 68.2% of 2025 revenue, led by ExxonMobil at 24.9%; the ExxonMobil/XTO agreement covering two FORCE electric fleets expires in late 2026 with renewal not expected.