Piper Sandler has decided to maintain its Overweight rating of Patterson-UTI Energy (NASDAQ:PTEN) and raise its price target from $14.50 to $20.00.
Shares of Patterson-UTI Energy are trading up 3.93% over the last 24 hours, at $17.30 per share.
A move to $20.00 would account for a 15.57% increase from the current share price.
About Patterson-UTI Energy
Patterson-UTI Energy is one of the largest land rig drilling contractors in the United States and maintains moderately sized pressure-pumping operations primarily in Texas and the Appalachian region. It also provides directional drilling services and tool rental services in most U.S. onshore oil and gas basins.
About Analyst Ratings
Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.
Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.
This article was generated by Benzinga's automated content engine and reviewed by an editor.
