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Patterson-UTI Energy, Inc. (NASDAQ:PTEN) is included among the 10 Best Energy Stocks to Buy Under $20 According to Billionaires.
Patterson-UTI Energy, Inc. (NASDAQ:PTEN) is a leading provider of drilling and completion services to oil and natural gas exploration and production companies in the United States and other select countries.
On April 27, Barclays boosted its price target on Patterson-UTI Energy, Inc. (NASDAQ:PTEN) from $8 to $10, while keeping an ‘Equal Weight’ rating on the shares. The revision comes after the company reported better-than-expected results for its Q1 2026 on April 22, beating estimates in both earnings and revenue.
The analyst firm noted that while Patterson-UTI Energy, Inc. (NASDAQ:PTEN)’s onshore rig count in the US remained relatively flat compared to pre-war levels, the company’s commentary indicated rig adds in the next few weeks. Patterson-UTI expects its rig count to average around 90 rigs in the second quarter, with adjusted gross profit in the Drilling Services segment targeted to be approximately $130 million. Barclays expects this to drive higher completion activity by the third quarter.
Patterson-UTI Energy, Inc. (NASDAQ:PTEN) also declared a quarterly dividend of $0.10 per share on April 23. PTEN currently boasts an impressive annual dividend yield of 3.46%, putting it among the 14 Best Oil and Gas Dividend Stocks to Buy Right Now.
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