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

Rating:
Overweight
PTEN
down 27.92 %

Patterson-uti Energy, Inc. (PTEN) rated Overweight with price target $39 by Lehman Brothers

Posted on: Tuesday,  May 20, 2008  8:25 AM ET by Lehman Brothers

Lehman Brothers rated Overweight Patterson-uti Energy, Inc. (NASDAQ: PTEN) on 05/20/2008. Previously Lehman Brothers rated Buy Patterson-uti Energy, Inc. (NASDAQ: PTEN) on
11/05/2007., when the stock price was $20.91. Since then, Patterson-uti Energy, Inc. has lost 27.93% as of 11/30/2015's recent price of $15.07.
If you would have followed the previous Lehman Brothers's recommendation on PTEN, you would have lost 27.92% of your investment in 2947 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.

Lehman Brothers Holdings Inc. has filed for bankruptcy protection in the U.S.
Stock Market Advice
Date/Time (ET)SymbolRatingTermPrice (*)Target
5/20/2008 8:25 AM Buy
None
33.33 39.00
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 %
Previous Recommendations
Date/Time (ET)SymbolRatingTermPrice (*)Target
2/15/2008 8:25 AM Buy
None
22.40 28.00
11/5/2007 11:25 AM Buy
None
20.91 26.00

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