Patterson-UTI Energy (PTEN) Tops Q2 EPS by 14c

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Go back to Patterson-UTI Energy (PTEN) Tops Q2 EPS by 14c

Global Hunter Securities Downgrades Patterson-UTI Energy (PTEN) to Accumulate

July 27, 2015 10:37 AM EDT

Global Hunter Securities downgraded Patterson-UTI Energy (NASDAQ: PTEN) from Buy to Accumulate with a price target of $18.00 (from $27.00).

Analyst Mark Brown commented, "We are lowering our rating to Accumulate from Buy due to the more uncertain E&P spending outlook that... More

Cowen Cuts Price Target to $22 on Patterson-UTI Energy (PTEN) Following 2Q15

July 24, 2015 9:25 AM EDT

Cowen maintained an Outperform rating on Patterson-UTI Energy (NASDAQ: PTEN), and cut the price target to $22.00 (from $26.00), following 2Q15. Analyst Marci Bianchi believes PTEN will be among the first to benefit in a market upturn.

Bianchi commented, "Impressive cost management in pressure pumping drove ~1,100bps outperformance compared to guidance. While these margins are... More