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Patterson-uti Energy, Inc. (PTEN) [hlAlert]

Rating:
Neutral PTEN
down 20.79 %

Patterson-uti Energy, Inc. (PTEN) upgraded to Neutral by Credit Suisse

Posted on: Friday,  Feb 1, 2013  8:25 AM ET by Credit Suisse

Credit Suisse rated Neutral Patterson-uti Energy, Inc. (NASDAQ: PTEN) on 02/01/2013. Previously Credit Suisse rated Underperform Patterson-uti Energy, Inc. (NASDAQ: PTEN) on
02/12/2010., when the stock price was $16.38. Since then, Patterson-uti Energy, Inc. has gained 26.25% as of 02/01/2013's recent price of $20.68.
If you would have followed the previous Credit Suisse's recommendation on PTEN, you would have lost 20.79% of your investment in 1085 days.

Patterson is one of the leading providers of domestic land drillingservices to major & independent oil & natural gas companies. The Company focuses its operations in Texas & southeast New Mexico. The Company currently has a drilling fleet of 114 drilling rigs, 108 of which are currently operable. The Company is also engaged in the development, exploration, acquisition & production of oil and natural gas; however, due to the substantial growth in the Company's drilling contract operations, the oil & natural gas operations are no longer material to the Company's overall operations.

Excellence in equity and fixed income research is a hallmark of Credit Suisse. Globally, our equity research analysts provide in-depth coverage of over 2,500 companies and engage in a knowledge-sharing, value added culture that has yielded the most insightful product for our customers and tremendous competitive results. Additionally, Credit Suisse's powerful macro-economic and debt strategy teams integrate the bank's comprehensive company research with keen market perspectives of the ever-shifting investment terrain.
Stock Market Advice
Date/Time (ET)SymbolRatingTermPrice (*)Target
2/1/2013 8:25 AM Hold
None
20.68
as of 12/13/2013
1 Week   
1 Month   
3 Months   
1 YTD down  -11.00 %
Previous Recommendations
Date/Time (ET)SymbolRatingTermPrice (*)Target
2/12/2010 10:25 AM Sell
None
16.38 17.00
5/1/2009 9:25 AM Sell
None
13.27 11.00
7/18/2008 9:25 AM Buy
None
31.42 41.00
5/2/2008 8:25 AM Hold
None
28.68

(*) Stock Price at the time of the recommendation.
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