Professional
Added to YB: 2024-02-20
Pitch date: 2024-02-16
PTEN [bullish]
Patterson-UTI Energy, Inc.
-22.43%
current return
Author Info
No bio for this author
Company Info
Patterson-UTI Energy, Inc., through its subsidiaries, provides drilling and completion services to oil and natural gas exploration and production companies in the United States, Canada, Colombia, and internationally.
Market Cap
$3.1B
Pitch Price
$10.94
Price Target
18.00 (+112%)
Dividend
4.94%
EV/EBITDA
4.28
P/E
-33.17
EV/Sales
0.82
Sector
Energy Equipment and Services
Category
turnaround
Patterson-UTI Energy, Inc.: Shares Rise on Return of Capital Commentary
PTEN: Solid Q4 on NexTier/Ulterra deals. $18 FV intact, 2024 outlook stable for drilling/completion despite gas dip. 50%+ FCF returns via $400M dividends/buybacks, $740M lower 2023 capex. 2/3 rigs are top-tier, big U.S. player. Mergers diversify but industry still competitive. Poor historical ROI but M&A may boost FCF & shareholder returns. Cyclical biz, no moat, but strategic focus may navigate tough energy market.
Read full article (10 min)