Key Highlights:
- Patterson-UTI Energy's stock (PTEN, Financial) plummeted 19.41% due to adverse market conditions.
- Analysts forecast a substantial upside potential of 85.98% from its current price.
- Patterson-UTI holds an "Outperform" rating, with a GF Value estimate suggesting a 102.47% upside.
Patterson-UTI Energy (PTEN) has recently witnessed a significant downturn, with its shares plunging 19.41% in intra-day trading on Friday. This decline stems from challenging market conditions despite the company maintaining a steady number of operational drilling rigs. Notably, Patterson-UTI reported a substantial net loss of $51.58 million for the last quarter of 2024, contrasting with a profit of $61.95 million in the previous year.
Wall Street Analysts' Outlook
In terms of market forecasts, 14 analysts have set their one-year price targets for Patterson-UTI Energy Inc (PTEN, Financial), mapping an average target price of $10.54. Estimates vary, with a high of $13.00 and a low of $9.00. This average target implies a promising upside potential of 85.98% from the current share price of $5.67. For more detailed estimate data, investors can visit the Patterson-UTI Energy Inc (PTEN) Forecast page.
Moreover, the consensus recommendation from 16 brokerage firms places Patterson-UTI Energy Inc's (PTEN, Financial) average brokerage recommendation at 2.1, which aligns with an "Outperform" status. This rating is on a scale from 1 to 5, where 1 indicates a Strong Buy and 5 a Sell.
GF Value Estimation
Leveraging GuruFocus metrics, the estimated GF Value for Patterson-UTI Energy Inc (PTEN, Financial) over the next year stands at $11.47. This estimation suggests a potential upside of 102.47% from the current price of $5.665. The GF Value, a proprietary GuruFocus metric, reflects the stock's fair value, derived from its historical trading multiples and anticipated business growth. More comprehensive data is available on the Patterson-UTI Energy Inc (PTEN) Summary page.
