Dahlman Rose Starts Patterson-UTI Energy (PTEN) at Buy; Strong Outlook Through 2012
Tweet Send to a FriendGet Alerts PTEN Hot Sheet
Price: $21.76 -0.87%
Rating Summary:
15 Buy, 11 Hold, 3 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
15 Buy, 11 Hold, 3 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade PTEN Now!
Dahlman Rose initiates coverage on Patterson-UTI Energy (NASDAQ: PTEN) with a Buy.
Dahlam analyst says, "PTEN is a leading operator of land rigs in the US with a reported 350 marketed rigs (of which about 200 are working) and a growing position in the US fracturing business due to its recent acquisition of the pressure pumping assets of Key Energy Services, and a rapid fleet expansion program. While earnings are likely to continue to grow through at least mid 2012, overcapacity in pressure pumping is likely by the end of the year, and its rig fleet is not as well positioned as some to weather the downturn...We estimate earnings of $2.15 per share in 2011 and $2.65 per share in 2012."
For more ratings news on Patterson-UTI Energy click here and for the rating history of Patterson-UTI Energy click here.
Shares of Patterson-UTI Energy closed at $27.35 yesterday, with a 52 week range of $11.85-$27.95.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
Dahlam analyst says, "PTEN is a leading operator of land rigs in the US with a reported 350 marketed rigs (of which about 200 are working) and a growing position in the US fracturing business due to its recent acquisition of the pressure pumping assets of Key Energy Services, and a rapid fleet expansion program. While earnings are likely to continue to grow through at least mid 2012, overcapacity in pressure pumping is likely by the end of the year, and its rig fleet is not as well positioned as some to weather the downturn...We estimate earnings of $2.15 per share in 2011 and $2.65 per share in 2012."
For more ratings news on Patterson-UTI Energy click here and for the rating history of Patterson-UTI Energy click here.
Shares of Patterson-UTI Energy closed at $27.35 yesterday, with a 52 week range of $11.85-$27.95.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- Goldman Sachs Downgrades Patterson-UTI Energy (PTEN) to Sell
- UPDATE: Intuit, Inc. (INTU) Tops Q3 EPS by 4c, Offers Guidance
- Deutsche Bank Resumes CenterPoint Energy (CNP) at Hold
Create E-mail Alert Related Categories
New CoverageRelated Entities
Earnings
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
