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

Rating:
Hold PTEN

Patterson-uti Energy, Inc. (PTEN) rated Hold with price target $24 by Deutsche Securities

Posted on: Friday,  Feb 15, 2008  8:25 AM ET by Deutsche Securities

Patterson-UTI (PTEN) rated Hold
with price target $24 by Deutsche Securities.

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.

Deutsche Bank's award-winning Research team manages a range of functions from asset allocation, through economic forecasting across a broad range of industry sectors including cement and construction, chemicals, electronics, energy, engineering, machinery, media, software, tobacco, retailing and utilities, and oil and gas.
Stock Market Advice
Date/Time (ET)SymbolRatingTermPrice (*)Target
2/15/2008 8:25 AM Hold
None
22.40 24.00
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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