Patterson Uti Energy traded at $10.29 this Friday March 13th, increasing $0.44 or 4.47 percent since the previous trading session. Looking back, over the last four weeks, Patterson Uti Energy gained 29.92 percent. Over the last 12 months, its price rose by 30.09 percent. Looking ahead, we forecast Patterson Uti Energy to be priced at 9.98 by the end of this quarter and at 9.10 in one year, according to Trading Economics global macro models projections and analysts expectations.
Patterson-UTI Energy, Inc. is an oilfield services company. The Company primarily owns and operates land-based drilling rigs in the United States and a fleet of pressure pumping equipment. The Company operates through three business segments: contract drilling services, pressure pumping services, and directional drilling services. The contract drilling services segment consists of approximately 210 marketed land-based drilling rigs. The pressure pumping services segment offers pressure pumping services to oil and natural gas operators, primarily in Texas and the Appalachian region. The Company also provides cementing services through the pressure pumping segment. The directional drilling services segment includes directional drilling, measurement-while-drilling and supply and rental of downhole performance motors and wireline steering tools. It also provides services that improve the statistical accuracy of horizontal wellbore placement.