PTEN Stock Recent News

The headline numbers for Patterson-UTI (PTEN) give insight into how the company performed in the quarter ended June 2023, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.

Patterson-UTI (PTEN) came out with quarterly earnings of $0.44 per share, in line with the Zacks Consensus Estimate. This compares to earnings of $0.05 per share a year ago.

The acquisition of Ulterra will expand Patterson-UTI's (PTEN) operational and technology portfolio, strengthening its market presence in drilling and completions.

HOUSTON, TX / ACCESSWIRE / June 29, 2023 / PATTERSON-UTI ENERGY, INC. (NASDAQ:PTEN) will host a conference call on Thursday, July 27, 2023, at 9:00 a.m.

The current stockholders of Patterson-UTI Energy (PTEN) will own approximately 55% of the combined company, with NexTier Oilfield Solutions (NEX) shareholders owning the rest.

Patterson-UTI (PTEN) saw its shares surge in the last session with trading volume being higher than average. The latest trend in earnings estimate revisions could translate into further price increase in the near term.

Patterson-UTI Energy (NASDAQ:PTEN) and NexTier Oilfield Solutions have agreed to an all-stock merger, according to reports, creating a $5.4 billion oil services company.  The deal will see NexTier shareholders receive 0.7520 shares of Patterson-UTI common stock for each share of NexTier common stock owned.

NexTier Oilfield Solutions and Patterson-UTI Energy are discussing a deal that would create a bigger player in a consolidating industry.

With the outlook for energy activity holding up despite some concerns, the Zacks Oil and Gas - Drilling companies like SDRL, PTEN and PDS are worth considering.

Patterson-UTI (PTEN) reported earnings 30 days ago. What's next for the stock?