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Stock Market & Financial Investment News

News Breaks
January 3, 2013
06:02 EDTPTENPatterson-UTI Energy reports drilling activity for December
Patterson-UTI Energy reported that for the month of December, the company had an average of 205 drilling rigs operating, including 197 rigs in the U.S. and 8 rigs in Canada. For the three months ended December 31, the company had an average of 205 drilling rigs operating, including 198 rigs in the U.S. and 7 rigs in Canada.
News For PTEN From The Last 14 Days
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February 10, 2016
07:00 EDTPTENNabors Industries offers best value among Land Drillers, says Citi
After assessing a range of net asset values for Land Drillers based on a various recovery scenarios, Citi analyst Scott Gruber says Nabors Industries (NBR) offers the best value within the group. The stock presents upside of 200% in his bull case and 65% downside in his bear case. Gruber calls Halliburton (HAL) his top pick, however, saying frac "offers superior recovery potential" to land rigs. The analyst has Buy ratings on both names along with Patterson-UTI (PTEN). He has a Neutral rating on Helmerich & Payne (HP).
February 5, 2016
10:00 EDTPTENPatterson-UTI at Raymond James
Raymond James analyst Marshall Adkins raised Patterson-UTI's price target to $21 from $17 on shares following the strong Q4 report. The analyst expects robust pressure pumping margin guidance and high-end rigs should help to support profitability in a difficult 2016 oilfield demand environment. Given Patterson's strong financial health, contract backlog and top-tier competitive positioning, Adkins believes they will be one of the core oilfield names to own heading into an anticipated 2017 recovery and reiterates his Strong Buy rating.
February 4, 2016
06:07 EDTPTENPatterson-UTI reports Q4 EPS (40c), consensus (48c)
Reports Q4 revenue $339M, consensus $324.82M.
February 3, 2016
06:05 EDTPTENPatterson-UTI reports drilling activity for January
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February 2, 2016
07:18 EDTPTENJefferies sees relative value in Nabors Industries
Jefferies analyst Brad Handler believes shares of Nabors Industries (NBR) can outperform Patterson-UTI (PTEN) over the near term and Helmerich & Payne (HP) over the longer term. His analysis suggests Nabors likely avoids covenant breach and has adequate liquidity to weather the downturn. Handler keeps a Hold rating on Nabors, however, with a reduced price target of $7.

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