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Patterson-UTI ( (PTEN) ) just unveiled an update.
In an investor presentation dated January 2026, Patterson-UTI reported that in the fourth quarter of 2025 it averaged 93 active U.S. rigs in its drilling services segment and achieved better-than-expected cost control, while its completion services business experienced less seasonal downtime than anticipated and operated near full utilization of its natural gas-powered fracturing assets. The company signaled that it expects to deploy roughly 2 million hydraulic horsepower in the first quarter of 2026 with minimal spare capacity, to continue decommissioning older Tier II equipment through 2026, to keep 2026 capital expenditures net of asset sales below $500 million, and to deliver another year of strong adjusted free cash flow while maintaining its policy of returning at least 50% of adjusted free cash flow to shareholders, underpinned by scalable capex, a strong balance sheet with no senior note maturities until 2028, and an investment-grade credit rating.
The most recent analyst rating on (PTEN) stock is a Hold with a $6.50 price target. To see the full list of analyst forecasts on Patterson-UTI stock, see the PTEN Stock Forecast page.
Spark’s Take on PTEN Stock
According to Spark, TipRanks’ AI Analyst, PTEN is a Neutral.
Patterson-UTI’s overall stock score reflects significant financial challenges, including declining revenues and profitability, which weigh heavily on the score. The company’s technical indicators suggest mixed momentum, while the valuation is impacted by a negative P/E ratio, though the dividend yield is a positive aspect. The earnings call provided some optimism with technological advancements and cash flow management, but these are tempered by ongoing financial and regional challenges.
To see Spark’s full report on PTEN stock, click here.
More about Patterson-UTI
Patterson-UTI is an integrated oilfield services company operating across drilling services, completion services and drilling products, with a high-quality asset base that includes 136 Tier-1 super-spec drilling rigs, about 2.7 million hydraulic horsepower in fracturing, and a global drilling products business generating roughly 30% of its revenue outside the U.S. The company focuses on U.S. onshore markets, particularly the most active E&Ps in the Lower 48, and emphasizes natural gas-powered completion fleets, technology-driven performance, and a diversified cash flow profile led by drilling and completions activities.
Average Trading Volume: 8,755,182
Technical Sentiment Signal: Sell
Current Market Cap: $2.45B
See more insights into PTEN stock on TipRanks’ Stock Analysis page.