$PTEN

Wall Street analysts issued upgrades, downgrades, and initiations for several companies. Abbott Laboratories (ABT) was upgraded to Buy with a $127 target, Airbnb (ABNB) to Overweight with a $191 target, and Cerebras Systems (CBRS) to Buy with a $209 target. Downgrades included Edison International (EIX) to Underperform with a $42 target and Northrop Grumman (NOC) to Sector Perform with a $525 target. Coinbase Global (COIN) was initiated with an Equal Weight rating and a $200 target.

UBS resumed coverage of Patterson-UTI Energy (PTEN) with a neutral rating and $13.00 price target. The stock trades at $11.30, with a Fair Value of $13.29. PTEN reported Q2 revenue of $1.23B, up 10% QoQ, exceeding expectations. EBITDA is projected to grow to $1,158M by 2028. Piper Sandler maintains an Overweight rating with a $14.00 target.

Hendricks William Andrew JR (President & CEO) sold 250,000 shares of PATTERSON UTI ENERGY INC (PTEN) at $11.91 ($2.98M total) on 2026-09-18 under a Rule 10b5-1 trading plan.

NESR (NASDAQ:NESR) reported fastest revenue growth, stock up 12.6%. Select Water Solutions (NYSE:WTTR) revenues up 8.7%, stock up 9%. ProPetro (NYSE:PUMP) revenues down 6.2%, stock down 1.8%. World Kinect (NYSE:WKC) revenues up 50.3%, stock up 1.3%. Patterson-UTI (NASDAQ:PTEN) revenues flat, stock up 38.3%.

Alphabet (GOOGL) paid $0.22 per share on September 14, 2026, part of its $0.88 annualized dividend. Exelon (EXC) and Patterson-UTI (PTEN) each paid $0.42 and $0.10 per share on September 15, 2026, respectively, with annualized dividends of $1.68 and $0.40. All three companies have different business models and dividend policies.

Patterson-UTI Energy (PTEN) averaged 101 U.S. rigs in August, up from 92 in Q2, aligning with management's Q3 outlook. Higher contract pricing was noted in July, but margins depend on revenue and costs. The company cautioned that rig counts alone may not reflect financial performance.

Shares of Liberty Energy, Green Plains, Murphy Oil, Patterson-UTI, and Texas Pacific Land rose after crude oil prices climbed due to strikes on Saudi energy facilities. Brent crude futures rose $1.00 to over $98.00 a barrel, and WTI crude futures increased over $2.00 to $93.65 a barrel, according to Reuters. Higher oil prices benefit oil and gas producers by expanding profit margins and boosting cash flow.

Patterson-UTI (PTEN) expects 2026 adjusted free cash flow to cover its annual dividend and plans to return at least 50% of adjusted FCF annually. The company reported $701M in total liquidity, $203M in cash, and a net debt to LTM adjusted EBITDA ratio of ~1x. It anticipates $600M in 2026 capex, net of asset sales, and expects to operate 104 U.S. rigs by the end of Q3.

PATTERSON UTI ENERGY INC (PTEN) filed an SEC Form 8-K — Regulation FD Disclosure. Investor Presentation September 2026 2Investor Presentation Patterson-UTI This material and any oral statements made in connection with this material include "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934. Sta

Patterson-UTI Energy insiders, including President William Hendricks and Independent Vice Chairman Robert Drummond, sold shares totaling $7.8M in the past year. Hendricks sold $3.2M worth at $12.93 per share, reducing his stake by 9.8%. Drummond sold $4.6M worth at $12.04 per share, below the current price of $12.42. Insiders own about 1.9% of the company, valued at $90M. No insider purchases were reported in the last year.