Patterson-UTI (PTEN) Gets a Hold Rating from Barclays
Barclays analyst David Anderson maintained a Hold rating on Patterson-UTI (PTEN) yesterday and set a price target of $8.00. The company’s shares closed last Monday at $7.05, close to its 52-week low of $7.03.
According to TipRanks.com, Anderson is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -5.4% and a 37.2% success rate. Anderson covers the Basic Materials sector, focusing on stocks such as Forum Energy Tech, Halliburton, and Tenaris SA.
Patterson-UTI has an analyst consensus of Moderate Sell, with a price target consensus of $7.65.
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The company has a one-year high of $16.27 and a one-year low of $7.03. Currently, Patterson-UTI has an average volume of 3.51M.
Based on the recent corporate insider activity of 27 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PTEN in relation to earlier this year.
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Patterson-UTI Energy, Inc. engages in the provision of onshore contract drilling services to major and independent oil and natural gas operators. It operates through the following segments: Contract Drilling Services, Pressure Pumping Services, and Directional Drilling Services.