Morgan Stanley Maintains Overweight Rating for Patterson-UTI Energy: Here's What You Need To Know

Morgan Stanley has decided to maintain its Overweight rating of Patterson-UTI Energy PTEN and lower its price target from $20.00 to $18.00.

Shares of Patterson-UTI Energy are trading down 1.63% over the last 24 hours, at $12.95 per share.

A move to $18.00 would account for a 39.05% 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.