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

Rating:
Buy PTEN
down 30.06 %

Patterson-uti Energy, Inc. (PTEN) rated Buy with price target $27 by Jefferies & Co

Posted on: Monday,  Feb 4, 2008  8:25 AM ET by Jefferies & Co

Jefferies & Co rated Buy Patterson-uti Energy, Inc. (NASDAQ: PTEN) on 02/04/2008, when the stock price was $21.55.
Since then, Patterson-uti Energy, Inc. has lost 30.07% as of 11/30/2015's recent price of $15.07.
If you would have followed this Jefferies & Co's recommendation on PTEN, you would have lost 30.06% of your investment in 2856 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.

Our focus on growing and mid-sized companies enables us to identify unique investment ideas, which can make the difference in a tough market. Jefferies' research effort covers U.S. & International equity, high yield, convertibles, investment grade fixed income and post-reorganization securities, as well as special situations and quantitative research. The more than 120-person team of research professionals covers over 1,200 companies in more than 40 industries worldwide. Our analysts focus on identifying emerging industry themes and dig deeper to provide in-depth, thought provoking, objective research. Our analysts use a variety of quantitative and qualitative tools, integrating field analysis, proprietary channel checks and ongoing dialogue with the managements of the companies they cover. We utilize the latest technologies to deliver a research product that is timely, differentiated, and tailored to each customer's needs. Regular client access to companies and their management teams is provided through a wide variety of Jefferies hosted industry conferences, company management meetings and on-site tours.
Stock Market Advice
Date/Time (ET)SymbolRatingTermPrice (*)Target
2/4/2008 8:25 AM Buy
None
21.55 27.00
as of 12/24/2008
1 Week up  6.14 %
1 Month up  34.87 %
3 Months up  37.93 %
1 YTD up  21.63 %

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