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Patterson-UTI (PTEN) Receives a Buy from Stifel Nicolaus

Tipranks - Tipranks - Mon Jun 22, 9:22PM CDT

In a report released yesterday, Stephen Gengaro from Stifel Nicolaus maintained a Buy rating on Patterson-UTI, with a price target of $15.00.

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Gengaro covers the Energy sector, focusing on stocks such as Patterson-UTI, Schlumberger, and Cactus. According to TipRanks, Gengaro has an average return of 25.8% and a 57.92% success rate on recommended stocks.

Patterson-UTI has an analyst consensus of Moderate Buy, with a price target consensus of $12.86.

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Based on Patterson-UTI’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $1.12 billion and a GAAP net loss of $24.63 million. In comparison, last year the company earned a revenue of $1.28 billion and had a net profit of $1.01 million

Based on the recent corporate insider activity of 35 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PTEN in relation to earlier this year. Earlier this month, Forrest C Robinson, the CAO of PTEN sold 19,419.00 shares for a total of $232,589.80.

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