Raymond James Maintains Strong Buy Rating for Patterson-UTI Energy: Here's What You Need To Know

Raymond James has decided to maintain its Strong Buy rating of Patterson-UTI Energy PTEN and lower its price target from $16.00 to $15.00.

Shares of Patterson-UTI Energy are trading down 0.34% over the last 24 hours, at $11.71 per share.

A move to $15.00 would account for a 28.1% increase from the current share price.

About Patterson-UTI Energy

Patterson-UTI Energy is one of the largest land rig drilling contractors in the United States and maintains moderately sized pressure pumping operations primarily in Texas and the Appalachian region, plus some modest operations in Colombia. It also provides directional drilling services and tool rental services in most U.S. onshore oil and gas basins.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.