Patterson-UTI Energy, Inc. (NQ: PTEN)
33.10 USD  UNCHANGED
Official Closing Price  /  Updated: 8:10 PM EDT, Apr 22, 2014  /  Add to My Watchlist      
(PTEN) Community Analysis from
April 23, 2014
(Stock Blog Hub, 2/27/13)
Shares of Patterson-UTI Energy Inc. (PTEN) hit a 52-week high of $24.64 on Feb 19. In fact, the Houston-based onshore contract dealer has seen its stock price climb more than 20% since the...(read more)
(Stock Blog Hub, 9/20/11)
We are upgrading Patterson-UTI Energy (PTEN) shares to Outperform from Neutral, reflecting strong demand for its services in North America. The company has been benefiting from increased...(read more)
(Penny Stock DD, 9/24/11)
The sell off in energy shares has created a big opportunity for value investors. Patterson-UTI Energy Inc. (NasdaqGS: PTEN - News) is still expected to see triple digit earnings growth this...(read more)
Patterson-UTI Energy (PTEN) Company Overview

Patterson-UTI Energy, formed through the merger of Patterson Energy and UTI, is the largest provider of contract drilling services in the US with 2006 revenues of $2.55B.[1] The Texas based company provides onshore contract drilling services to major independent oil and natural gas providers. It owns 325 land rigs and operates mainly in Texas, New Mexico, Utah, Oklahoma, North Dakota, South Dakota, Wyoming, Montana, Louisiana and Western Canada.[2]

In recent years, PTEN has also managed to increase it's fleet size relatively inexpensively, mainly by acquiring other companies in the business. This has been a major driver of the firm's profitability. However, the US drilling industry has been consolidating over the last few years, and increased competition has driven up the price of oil rigs.

(Read more at Wikinvest )

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