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

Rating:
Hold PTEN
up 29.09 %

Patterson-uti Energy, Inc. (PTEN) downgraded to Hold by Jefferies

Posted on: Tuesday,  Jul 9, 2013  8:25 AM ET by Jefferies

Jefferies rated Hold Patterson-uti Energy, Inc. (NASDAQ: PTEN) on 07/09/2013. Previously Jefferies rated Buy Patterson-uti Energy, Inc. (NASDAQ: PTEN) on 07/26/2010.,
when the stock price was $16.12. Since then, Patterson-uti Energy, Inc. has gained 29.09% as of 07/09/2013's recent price of $20.81.
If you would have followed the previous Jefferies's recommendation on PTEN, you would have gained 29.09% of your investment in 1079 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.

Jefferiess' research efforts cover U.S. & International equity, high yield, convertibles, derivatives and option strategies, investment grade fixed income, post-reorganization securities, as well as special situations and quantitative research. Our team of more than 150 research professionals covers nearly 1,200 companies in more than 40 industries worldwide. Our analysts focus on identifying emerging industry themes while providing in-depth, thought provoking, objective research.
Stock Market Advice
Date/Time (ET)SymbolRatingTermPrice (*)Target
7/9/2013 8:25 AM Hold
None
20.81
as of 12/13/2013
1 Week   
1 Month   
3 Months   
1 YTD up  11.70 %
Previous Recommendations
Date/Time (ET)SymbolRatingTermPrice (*)Target
7/26/2010 9:25 AM Buy
None
16.12 21.00

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