Patterson-UTI Energy (PTEN) Price Target Raised Following Better-than-Expected Q1

Patterson-UTI Energy, Inc. (NASDAQ:PTEN) is simply a starring supplier of drilling and completion services to lipid and earthy state exploration and accumulation companies successful the United States and different prime countries.

On April 27, Barclays boosted its terms people connected Patterson-UTI Energy, Inc. (NASDAQ:PTEN) from $8 to $10, portion keeping an ‘Equal Weight’ standing connected the shares. The revision comes aft the institution reported better-than-expected results for its Q1 2026 connected April 22, beating estimates successful some net and revenue.

The expert steadfast noted that portion Patterson-UTI Energy, Inc. (NASDAQ:PTEN)’s onshore rig number successful the US remained comparatively level compared to pre-war levels, the company’s commentary indicated rig adds successful the adjacent fewer weeks. Patterson-UTI expects its rig number to mean astir 90 rigs successful the 2nd quarter, with adjusted gross nett successful the Drilling Services conception targeted to beryllium astir $130 million. Barclays expects this to thrust higher completion enactment by the 3rd quarter.

Patterson-UTI Energy, Inc. (NASDAQ:PTEN) besides declared a quarterly dividend of $0.10 per stock connected April 23. PTEN presently boasts an awesome yearly dividend output of 3.46%, putting it among the 14 Best Oil and Gas Dividend Stocks to Buy Right Now.

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