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Stock Market & Financial Investment News

News Breaks
July 3, 2014
06:07 EDTPTENPatterson-UTI Energy reports 204 drilling rigs operating in June
Patterson-UTI Energy reported that for the month of June , the company had an average of 204 drilling rigs operating in the United States and six rigs in Canada. For the three months ended June 30, the company had an average of 201 drilling rigs operating in the United States and three rigs in Canada.
News For PTEN From The Last 14 Days
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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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