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

down 16.58 %

Patterson-uti Energy, Inc. (PTEN) rated Underweight by JP Morgan

Posted on: Monday,  Nov 3, 2008  9:25 AM ET by JP Morgan

JP Morgan rated Underweight Patterson-uti Energy, Inc. (NASDAQ: PTEN) on 11/03/2008, when the stock price was $12.57. Since
then, Patterson-uti Energy, Inc. has gained 19.89% as of 11/30/2015's recent price of $15.07.
If you would have followed this JP Morgan's recommendation on PTEN, you would have lost 16.58% of your investment in 2583 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.

JPMorgan is a leading financial services firm with one of the largest client franchises in the world. We partner with our clients to offer the most complete and innovative solutions in the industry to help them achieve their goals. For more than 200 years, we have taken a long-term approach to our clients and to the way we conduct business. Our firm has grown considerably in scale and scope, but our commitment to our core principle of doing "only first-class business... in a first-class way" has never been stronger.
Stock Market Advice
Date/Time (ET)SymbolRatingTermPrice (*)Target
11/3/2008 9:25 AM Sell
as of 12/24/2008
1 Week down  -6.14 %
1 Month down  -34.87 %
3 Months down  -21.63 %
1 YTD down  -21.63 %

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