BofA Raises its Price Target on Patterson-UTI Energy (PTEN)

Patterson-UTI Energy, Inc. (NASDAQ:PTEN) is one of the 8 Best Natural Resources Stocks to Buy Now.

On May 19, 2026, BofA analyst Saurabh Pant raised the firm’s price target on Patterson-UTI Energy, Inc. (NASDAQ:PTEN) to $13.50 from $12 and maintained a Buy rating on the shares. Pant said BofA updated its oilfield services models following Q1 earnings and 10-Q reports, noting that the firm’s 2027 and 2028 EBITDA forecasts are 10% and 16% above consensus, respectively, on average.

Susquehanna also raised the firm’s price target on Patterson-UTI Energy, Inc. (NASDAQ:PTEN) to $14 from $13 and maintained a Positive rating on the shares. Susquehanna updated its model and raised its Q2 2026 and full-year 2026 estimates following comments at a recent investor conference.

BofA Raises its Price Target on Patterson-UTI Energy (PTEN)

Last month, Patterson-UTI Energy, Inc. (NASDAQ:PTEN) reported Q1 EPS of (6c), compared to the consensus estimate of (10c). Revenue totaled $1.18B, above the consensus estimate of $1.1B. CEO Andy Hendricks said the company delivered “solid operating results” despite a challenging commodity environment. Hendricks also said the second quarter represents a market inflection as commodity prices improve, with the company activating drilling rigs later in Q2 and discussing price increases in Completion Services as demand rises and industry utilization remains high.

Patterson-UTI Energy, Inc. (NASDAQ:PTEN) provides drilling and completion services to oil and natural gas exploration and production companies in the United States, Canada, Colombia, and internationally.

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