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Patterson-UTI Energy (PTEN) PT Lowered to $14 at JPMorgan
July 29, 2024 5:14 AM EDTJPMorgan 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
Patterson-UTI Energy (PTEN) PT Lowered to $14 at RBC Capital
July 26, 2024 6:40 AM EDTRBC 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
