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Patterson-UTI Energy's (PTEN) Q4 sales and earnings beat estimates with strong performance across various segments. It also projects a rig count increase and $550 million capex for 2023.
Oilfield services company Patterson-UTI supplies pressure pumping and contract drilling services. The company's market capitalization is $3.1 billion, and it pays a 2.2% dividend.
Patterson-UTI Energy, Inc. (NASDAQ:PTEN ) Q4 2022 Earnings Conference Call February 9, 2023 10:00 AM ET Company Participants Mike Drickamer – Vice President-Investor Relations Andy Hendricks – Chief Executive Officer Andy Smith – Chief Financial Officer Mike Holcomb – Chief Operating Officer Conference Call Participants Arun Jayaram – JPMorgan Chase Jim Rollyson – Raymond James Scott Gruber – Citigroup Saurabh Pant – Bank of America Kurt Hallead – Benchmark Keith MacKey – RBC Don Crist – Johnson Rice John Daniel – Daniel Energy Partners Derek Podhaizer – Barclays Luke Lemoine – Piper Sandler Operator Good morning. My name is Colby, and I will be your conference operator today.
Patterson-UTI (PTEN) delivered earnings and revenue surprises of 6.98% and 3.81%, respectively, for the quarter ended December 2022. Do the numbers hold clues to what lies ahead for the stock?
Raymond James weighed in on Patterson-UTI Energy, Inc. (NASDAQ:PTEN) today, as trimming its 2023 U.S. rig count forecast to 750 from 813 on lower natural gas prices, citing mild winter conditions and stronger U.S. production growth.
Higher revenues from the Contract Drilling and Pressure Pumping segments are likely to have boosted Patterson-UTI Energy's (PTEN) fourth-quarter results.
Is it a good or bad thing when a stock surpasses resistance at the 20-day simple moving average?
Patterson-UTI (PTEN) shares have started gaining and might continue moving higher in the near term, as indicated by solid earnings estimate revisions.
Does Patterson-UTI (PTEN) have what it takes to be a top stock pick for momentum investors? Let's find out.
HOUSTON, TX / ACCESSWIRE / January 10, 2023 / PATTERSON-UTI ENERGY, INC. (NASDAQ:PTEN) will host a conference call on Thursday, February 9, 2023, at 9:00 a.m.