Rising geopolitical tensions in the Middle East have driven crude oil prices near $100 per barrel, creating favorable conditions for energy stocks. The article highlights three undervalued mid-cap energy companies positioned to benefit from higher oil prices and increased exploration activity.

Schlumberger, ADNOC Drilling, and Patterson-UTI have formed a joint venture to accelerate the UAE's unconventional oil and gas program, with a target of completing 144 wells by 2025.

Patterson-UTI Energy reported lower Q2 2024 earnings compared to the prior year due to weaker performance in its Drilling Services segment. The company's Completion Services segment saw strong revenue growth, but missed expectations. Patterson-UTI Energy returned $164 million to shareholders in Q2 and has $819 million remaining in its share repurchase authorization.

Patterson-UTI (PTEN) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.

Patterson-UTI's (PTEN) subsidiary, Patterson-UTI International Holdings, Inc., partners with ADNOC Drilling for a UAE project, enhancing oilfield operations with U.S. shale expertise and strategic growth.

During the last three months, 7 analysts shared their evaluations of Patterson-UTI Energy (NASDAQ:PTEN), revealing diverse outlooks from bullish to bearish. The table below provides a snapshot of their recent ratings, showcasing how sentiments have evolved over the past 30 days and comparing them to the preceding months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 2 5 0 0 0 Last 30D 0 1 0 0 0 1M Ago 1 1 0 0 0 2M Ago 0 1 0 0 0 3M Ago 1 2 0 0 0 The 12-month price targets, analyzed by analysts, offer insights with an average target of $16.0, a high estimate of $18.00, and a low estimate of $14.00. Experiencing a 3.85% decline, the current average is now lower than the previous average price target of $16.64. Analyzing Analyst Ratings: A Detailed Breakdown The standing of Patterson-UTI Energy among financial experts is revealed through an in-depth exploration of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets. Analyst Analyst Firm Action Taken Rating Current Price Target Prior Price Target Jason Bandel Evercore ISI Group Lowers Outperform $17.00 $18.00 Chase Mulvehill B of A Securities Lowers Buy $14.00 $14.50 Charles Minervino Susquehanna Maintains Positive $16.00 $16.00 Charles Minervino Susquehanna Maintains Positive $16.00 $16.00 Jason Bandel Evercore ISI Group Lowers Outperform $18.00 $19.00 Keith Mackey RBC Capital Lowers Outperform $16.00 $17.00 James Rollyson Raymond James Lowers Strong Buy $15.00 $16.00 Key Insights: Action Taken: Analysts adapt their recommendations to changing market conditions and company performance. Whether they 'Maintain', 'Raise' ...Full story available on Benzinga.com

Patterson-UTI (PTEN) expects Completion Services revenues of $860 million for the second quarter, with direct operating costs of $690 million and adjusted gross profit of $170 million.

Exxon (XOM) delivered earnings and revenue surprises of -5.94% and 4.06%, respectively, for the quarter ended March 2024. Do the numbers hold clues to what lies ahead for the stock?

Patterson-UTI (PTEN) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Why investors should use the Zacks Earnings ESP tool to help find stocks that are poised to top quarterly earnings estimates.

Across the recent three months, 4 analysts have shared their insights on Patterson-UTI Energy (NASDAQ:PTEN), expressing a variety of opinions spanning from bullish to bearish. The following table provides a quick overview of their recent ratings, highlighting the changing sentiments over the past 30 days and comparing them to the preceding months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 1 3 0 0 0 Last 30D 0 1 0 0 0 1M Ago 0 0 0 0 0 2M Ago 1 2 0 0 0 3M Ago 0 0 0 0 0 The 12-month price targets assessed by analysts reveal further insights, featuring an average target of $16.25, a high estimate of $18.00, and a low estimate of $15.00. Observing a downward trend, the current average is 4.41% lower than the prior average price target of $17.00. Diving into Analyst Ratings: An In-Depth Exploration A comprehensive examination of how financial experts perceive Patterson-UTI Energy is derived from recent analyst actions. The following is a detailed summary of key analysts, their recent evaluations, and adjustments to ratings and price targets. Analyst Analyst Firm Action Taken Rating Current Price Target Prior Price Target Charles Minervino Susquehanna Maintains Positive $16.00 $16.00 Jason Bandel Evercore ISI Group Lowers Outperform $18.00 $19.00 Keith Mackey RBC Capital Lowers Outperform $16.00 $17.00 James Rollyson Raymond James Lowers Strong Buy $15.00 $16.00 Key Insights: Action Taken: In response to dynamic market conditions and company performance, analysts update their recommendations. Whether they ...Full story available on Benzinga.com

Patterson-UTI (PTEN) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.