Goldman Sachs Raises Patterson-UTI Energy, Inc. (PTEN) Price Target by $2

Patterson-UTI Energy, Inc. (NASDAQ:PTEN) is among the 14 Best Oil and Gas Dividend Stocks to Buy Right Now.

Goldman Sachs Raises Patterson-UTI Energy, Inc. (PTEN) Price Target by $2

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.

Patterson-UTI Energy, Inc. (NASDAQ:PTEN) received a boost on March 4 when Goldman Sachs raised its price target on the stock from $7 to $9, while keeping a ‘Buy’ rating on the shares. The revised target indicates an upside of 2.5% from the current levels.

Goldman Sachs highlighted early signs of dislocation between depressed valuations and underlying fundamentals, despite the possibility of near-term challenges posed by the current geopolitical situation. The analyst firm expects the ongoing geopolitical concerns in the Middle East not to impact customer plans in the long run, as it believes that the major part of the activity increases are structural to help offset decline rates and increasing production capacity.

Patterson-UTI Energy, Inc. (NASDAQ:PTEN) delivered $416 million in adjusted free cash flow for FY 2025, with the fourth quarter marking the highest since the company’s 2023 strategic transformation. This enabled the firm to increase its quarterly dividend by 25% to $0.10 per share in the first quarter of 2026.

While we acknowledge the potential of PTEN as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than PTEN and that has a 100x upside potential, check out our report about the cheapest AI stock.

READ NEXT: 12 Best Crude Oil Stocks to Buy as Tensions Rise and 40 Most Popular Stocks Among Hedge Funds Heading into 2026.

Disclosure: None.  Follow Insider Monkey on Google News.