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

Rating:
Hold PTEN

Patterson-uti Energy, Inc. (PTEN) rated Hold by Canaccord Adams

Posted on: Wednesday,  Nov 11, 2009  8:25 AM ET by Canaccord Adams

Patterson-uti Energy, Inc.
(NASDAQ: PTEN) rated Hold by Canaccord Adams.

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.

Canaccord Adams provides focused, actionable, idea-driven research, helping clients make informed investment decisions. Our 55 international analysts scour the globe for emerging and small to mid cap (US$1-2 billion market capitalization) growth opportunities, identifying value and exposing risk. Our research team analyzes over 550 companies in eight sectors, clarifying current events and anticipating market trends in high-quality daily, weekly and monthly research products. Our clients benefit from our thorough and sophisticated knowledge of the sectors we cover - Metals and Mining, Energy, Technology, Life Sciences, Real Estate, Consumer, Sustainability and Industrial Growth. We combine independent, actionable ideas, unique global perspective and unparalleled industry expertise. We believe it's evident in our research, and the foundation of our business.
Stock Market Advice
Date/Time (ET)SymbolRatingTermPrice (*)Target
11/11/2009 8:25 AM Hold
None
16.55
as of 1/1/0001
1 Week   
1 Month   
3 Months   
1 YTD   

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