Piper Sandler Maintains Overweight Rating for Patterson-UTI Energy, Raises Price Target To $20

Piper Sandler has decided to maintain its Overweight rating of Patterson-UTI Energy PTEN and raise its price target from $14.50 to $20.00.

Shares of Patterson-UTI Energy are trading up 3.93% over the last 24 hours, at $17.30 per share.

A move to $20.00 would account for a 15.57% 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. 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.