Patterson-UTI Energy (PTEN) Misses Q2 EPS by 5c; offers guidance
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Go back to Patterson-UTI Energy (PTEN) Misses Q2 EPS by 5c; offers guidance
July 29, 2024 5:14 AM EDT
JPMorgan analyst Sean Meakim lowered the price target on Patterson-UTI Energy (NASDAQ: PTEN) to $14.00 (from $15.00) while maintaining a Neutral rating.
The analyst comments "Expectation were relatively muted ahead of PTENs 2Q24 print last week as the market was largely expecting the company to soften its expectations for Completion Services given NAM activity declines and white space challenges. This was indeed the case, but one of the negative surprises in the quarter was a weaker than expected U.S. land margin expectation in 3Q24, which included a greater... More
July 26, 2024 6:40 AM EDT
RBC Capital analyst Keith Mackey lowered the price target on Patterson-UTI Energy (NASDAQ: PTEN) to $14.00 (from $15.00) while maintaining a Outperform rating.
The analyst comments "PTEN reported in-line 2Q24 results. With a modest activity rebound expected in 2025 and above-average FCF yield amongst... More
