12 Best American Oil Stocks to Buy Now

10. Patterson-UTI Energy, Inc. (NASDAQ:PTEN)

Number of Hedge Fund Holders: 51

Patterson-UTI Energy, Inc. (NASDAQ:PTEN) is a leading provider of drilling and completion services to oil and natural gas exploration and production companies in the United States and other select countries.

On June 16, Stifel analyst Stephen Gengaro lifted the firm’s price target on Patterson-UTI Energy, Inc. (NASDAQ:PTEN) from $14 to $15, while maintaining a ‘Buy’ rating on the shares. The revised target indicates an upside potential of over 45% from the current share price.

Stifel increased its estimates for 2026-27 after Patterson-UTI recently improved its guidance for Q2 EBITDA, supported in part by higher hydraulic fracturing pricing and solid performance in both drilling and completions.

Patterson-UTI Energy, Inc. (NASDAQ:PTEN) recently raised its Q2 adjusted EBITDA guidance to $220 million, up from the $206 million previously. The company expects to exit the quarter with about 95 active rigs and to exceed 100 active rigs in the United States by the end of 2026.

With an impressive annual dividend yield of 3.88%, Patterson-UTI Energy, Inc. (NASDAQ:PTEN) was also recently included in our list of the 10 High Yield Crude Oil Stocks to Buy Now.