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

Rating:
Overweight
PTEN
up 38.11 %

Patterson-uti Energy, Inc. (PTEN) upgraded to Overweight with price target $35 by Barclays Capital

Posted on: Monday,  Dec 19, 2011  12:25 PM ET by Barclays Capital

Barclays Capital rated Overweight Patterson-uti Energy, Inc. (NASDAQ: PTEN) on 12/19/2011. Previously Barclays Capital rated Equal Weight Patterson-uti Energy, Inc. (NASDAQ: PTEN)
on 02/07/2011., when the stock price was $26.09. Since then, Patterson-uti Energy, Inc. has lost 27.60% as of 12/19/2011's recent price of $18.89.
If you would have followed the previous Barclays Capital's recommendation on PTEN, you would have gained 38.11% of your investment in 315 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.

Barclays Capital has assembled a world-class, award-winning team of analysts covering, credit, commodities, economics, emerging markets, equities, fixed income, foreign exchange and market strategy. We provide in-depth analysis of companies and macro coverage across asset classes, markets and the world’s economies. We have a highly quantitative approach and our research is underpinned by sophisticated analytics. Combined, these provide clients with the tools and insights necessary for successful risk management and financing. Our research teams are based in many of the world’s major financial centres providing our clients with a globally integrated perspective across products and geographies.
Stock Market Advice
Date/Time (ET)SymbolRatingTermPrice (*)Target
12/19/2011 12:25 PM Buy
None
18.89 35.00
as of 12/30/2011
1 Week down  -2.25 %
1 Month up  15.90 %
3 Months down  -3.16 %
1 YTD up  18.11 %
Previous Recommendations
Date/Time (ET)SymbolRatingTermPrice (*)Target
2/7/2011 8:25 AM Sell
None
26.09 29.00
12/15/2010 1:25 PM Sell
None
21.42 24.00
11/1/2010 12:25 PM Sell
None
19.66 22.00
5/8/2009 8:25 AM Sell
None
14.36

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