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Patterson-UTI Energy (PTEN)

Market Price (3/10/2026): $9.09 | Market Cap: $3.4 Bil
Sector: Energy | Industry: Oil & Gas Drilling

Patterson-UTI Energy (PTEN)

Market Price (3/10/2026): $9.09
Market Cap: $3.4 Bil
Sector: Energy
Industry: Oil & Gas Drilling

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 20%		 Trading close to highs
Dist 52W High is 0.0%		 Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -40 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -0.8%
1 Attractive yield
FCF Yield is 11%		 Weak multi-year price returns
2Y Excs Rtn is -45%, 3Y Excs Rtn is -101%		 Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -10%, Rev Chg QQuarterly Revenue Change % is -1.0%
2 Megatrend and thematic drivers
Megatrends include US Energy Independence. Themes include US Oilfield Technologies, and US LNG. 		  Valuation getting more expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 78%
3   Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -5.2%
4   Key risks
PTEN key risks include [1] a decline in demand for its drilling services as technological advancements enable oil producers to achieve higher output with fewer wells.
0 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 20%
1 Attractive yield
FCF Yield is 11%
2 Megatrend and thematic drivers
Megatrends include US Energy Independence. Themes include US Oilfield Technologies, and US LNG.
3 Trading close to highs
Dist 52W High is 0.0%
4 Weak multi-year price returns
2Y Excs Rtn is -45%, 3Y Excs Rtn is -101%
5 Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -40 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -0.8%
6 Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -10%, Rev Chg QQuarterly Revenue Change % is -1.0%
7 Valuation getting more expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 78%
8 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -5.2%
9 Key risks
PTEN key risks include [1] a decline in demand for its drilling services as technological advancements enable oil producers to achieve higher output with fewer wells.

Valuation, Metrics & Events

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Patterson-UTI Energy (PTEN) stock has gained about 65% since 11/30/2025 because of the following key factors:

1. Strong Fourth Quarter 2025 Financial Performance: Patterson-UTI Energy reported robust Q4 2025 earnings on February 4, 2026, significantly exceeding analyst expectations. The company announced revenues of $1.15 billion, surpassing estimates of $1.10 billion by over $50 million. Additionally, the reported earnings per share (EPS) of -$0.02 beat the consensus estimate of -$0.11 by $0.09, demonstrating strong operational execution and margin resilience.

2. Enhanced Shareholder Returns: In conjunction with its strong financial results, Patterson-UTI Energy increased its quarterly dividend by 25% to $0.10 per share, payable on March 16, 2026. The company also reaffirmed its commitment to returning at least 50% of its adjusted free cash flow to shareholders, signaling confidence in its ongoing cash generation capabilities.

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Stock Movement Drivers

Fundamental Drivers

The 63.7% change in PTEN stock from 11/30/2025 to 3/9/2026 was primarily driven by a 62.5% change in the company's P/S Multiple.
(LTM values as of)113020253092026Change
Stock Price ($)5.669.2763.7%
Change Contribution By: 
Total Revenues ($ Mil)4,8384,827-0.2%
P/S Multiple0.40.762.5%
Shares Outstanding (Mil)3833791.0%
Cumulative Contribution63.7%

LTM = Last Twelve Months as of date shown

Market Drivers

11/30/2025 to 3/9/2026
ReturnCorrelation
PTEN63.7% 
Market (SPY)-0.7%20.6%
Sector (XLE)24.5%69.3%

Fundamental Drivers

The 66.0% change in PTEN stock from 8/31/2025 to 3/9/2026 was primarily driven by a 69.8% change in the company's P/S Multiple.
(LTM values as of)83120253092026Change
Stock Price ($)5.589.2766.0%
Change Contribution By: 
Total Revenues ($ Mil)5,0194,827-3.8%
P/S Multiple0.40.769.8%
Shares Outstanding (Mil)3853791.6%
Cumulative Contribution66.0%

LTM = Last Twelve Months as of date shown

Market Drivers

8/31/2025 to 3/9/2026
ReturnCorrelation
PTEN66.0% 
Market (SPY)5.4%30.9%
Sector (XLE)25.7%67.8%

Fundamental Drivers

The 18.9% change in PTEN stock from 2/28/2025 to 3/9/2026 was primarily driven by a 29.0% change in the company's P/S Multiple.
(LTM values as of)22820253092026Change
Stock Price ($)7.809.2718.9%
Change Contribution By: 
Total Revenues ($ Mil)5,3784,827-10.3%
P/S Multiple0.60.729.0%
Shares Outstanding (Mil)3893792.7%
Cumulative Contribution18.9%

LTM = Last Twelve Months as of date shown

Market Drivers

2/28/2025 to 3/9/2026
ReturnCorrelation
PTEN18.9% 
Market (SPY)15.2%61.8%
Sector (XLE)26.8%83.5%

Fundamental Drivers

The -23.5% change in PTEN stock from 2/28/2023 to 3/9/2026 was primarily driven by a -43.2% change in the company's Shares Outstanding (Mil).
(LTM values as of)22820233092026Change
Stock Price ($)12.129.27-23.5%
Change Contribution By: 
Total Revenues ($ Mil)2,6484,82782.3%
P/S Multiple1.00.7-26.2%
Shares Outstanding (Mil)215379-43.2%
Cumulative Contribution-23.5%

LTM = Last Twelve Months as of date shown

Market Drivers

2/28/2023 to 3/9/2026
ReturnCorrelation
PTEN-23.5% 
Market (SPY)77.5%47.9%
Sector (XLE)47.7%77.3%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
PTEN Return62%102%-34%-21%-22%49%97%
Peers Return25%78%-12%-12%2%28%126%
S&P 500 Return27%-19%24%23%16%-2%79%

Monthly Win Rates [3]
PTEN Win Rate50%67%17%58%33%100% 
Peers Win Rate53%63%40%42%62%73% 
S&P 500 Win Rate75%42%67%75%67%33% 

Max Drawdowns [4]
PTEN Max Drawdown0%0%-41%-31%-35%0% 
Peers Max Drawdown-4%-3%-29%-25%-34%0% 
S&P 500 Max Drawdown-1%-25%-1%-2%-15%-2% 

[1] Cumulative total returns since the beginning of 2021
[2] Peers: HP, NBR, HAL, SLB, BKR.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 3/9/2026 (YTD)

How Low Can It Go

Unique KeyEventPTENS&P 500
2022 Inflation Shock2022 Inflation Shock  
2022 Inflation Shock% Loss% Loss-50.8%-25.4%
2022 Inflation Shock% Gain to Breakeven% Gain to Breakeven103.4%34.1%
2022 Inflation ShockTime to BreakevenTime to BreakevenNot Fully Recovered days464 days
2020 Covid Pandemic2020 Covid Pandemic  
2020 Covid Pandemic% Loss% Loss-84.5%-33.9%
2020 Covid Pandemic% Gain to Breakeven% Gain to Breakeven543.5%51.3%
2020 Covid PandemicTime to BreakevenTime to Breakeven447 days148 days
2018 Correction2018 Correction  
2018 Correction% Loss% Loss-73.6%-19.8%
2018 Correction% Gain to Breakeven% Gain to Breakeven278.8%24.7%
2018 CorrectionTime to BreakevenTime to BreakevenNot Fully Recovered days120 days
2008 Global Financial Crisis2008 Global Financial Crisis  
2008 Global Financial Crisis% Loss% Loss-78.8%-56.8%
2008 Global Financial Crisis% Gain to Breakeven% Gain to Breakeven372.6%131.3%
2008 Global Financial CrisisTime to BreakevenTime to Breakeven1,967 days1,480 days

Compare to HP, NBR, HAL, SLB, BKR

In The Past

Patterson-UTI Energy's stock fell -50.8% during the 2022 Inflation Shock from a high on 5/27/2022. A -50.8% loss requires a 103.4% gain to breakeven.

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About Patterson-UTI Energy (PTEN)

Patterson-UTI Energy, Inc., through its subsidiaries, provides onshore contract drilling services to oil and natural gas operators in the United States and internationally. It operates through three segments: Contract Drilling Services, Pressure Pumping Services, and Directional Drilling Services. The Contract Drilling Services segment markets its contract drilling services primarily in west Texas, Appalachia, Rockies, Oklahoma, South Texas, East Texas, and Colombia. As of December 31, 2021, this segment had a drilling fleet of 192 marketable land-based drilling rigs. The Pressure Pumping Services segment offers pressure pumping services that consist of well stimulation for the completion of new wells and remedial work on existing wells, as well as hydraulic fracturing, cementing, and acid pumping services in Texas and the Appalachian region. The Directional Drilling Services segment provides a suite of directional drilling services, including directional drilling and measurement-while-drilling services; supply and rental of downhole performance motors; and software and services that enhances the accuracy of directional and horizontal wellbores, wellbore quality, and on-bottom rate of penetration. It also services equipment to drilling contractors, as well as provides electrical controls and automation to the energy, marine, and mining industries in North America and other markets; and owns and invests in oil and natural gas assets as a non-operating working interest owner located principally in Texas and New Mexico. Patterson-UTI Energy, Inc. was founded in 1978 and is headquartered in Houston, Texas.

AI Analysis | Feedback

Here are 1-3 brief analogies for Patterson-UTI Energy (PTEN):

  • Essentially, a specialized Halliburton or Schlumberger for North American onshore drilling and hydraulic fracturing services.
  • The Caterpillar for oil and gas wells – providing and operating the heavy machinery and services to get oil out of the ground.
  • Like a large-scale Fluor or Kiewit for building and servicing oil and gas wells.

AI Analysis | Feedback

  • Contract Drilling Services: Provides onshore drilling rigs and related services to exploration and production companies for oil and natural gas wells.
  • Pressure Pumping Services: Delivers hydraulic fracturing and other well completion services essential for maximizing hydrocarbon recovery from wells.
  • Reservoir Solutions: Offers specialized services including directional drilling, downhole technology, and rental tools designed to optimize wellbore placement and efficiency.

AI Analysis | Feedback

Major Customers of Patterson-UTI Energy (PTEN)

Patterson-UTI Energy (PTEN) primarily sells its drilling and completion services to other companies in the oil and natural gas industry.

According to its public filings, Patterson-UTI Energy serves a diverse customer base, and no single customer accounted for 10% or more of its consolidated revenues in recent fiscal years (e.g., 2023, 2022, 2021). As such, PTEN does not identify specific "major customers" by name in its annual reports.

However, PTEN's customers generally fall into the following categories:

  • Major integrated oil and gas companies
  • Large and small independent oil and gas companies
  • National oil and gas companies

These categories encompass a wide array of exploration and production (E&P) companies that require PTEN's services for contract drilling, pressure pumping, and other completion activities across various North American basins.

AI Analysis | Feedback

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AI Analysis | Feedback

William Andrew Hendricks, Jr. President, Chief Executive Officer, Director Mr. Hendricks joined Patterson-UTI Energy in early 2012 as Chief Operating Officer and was appointed Chief Executive Officer later that year. He has over 30 years of experience in the global oil and gas industry. Prior to Patterson-UTI, he worked for Schlumberger for 24 years, where his last role was President of Schlumberger Drilling & Measurements from 2010 to 2012. He began his career working on an offshore drilling rig for Ocean Drilling & Exploration Company. Mr. Hendricks holds a Bachelor of Science degree in Petroleum Engineering from Texas A&M University. C. Andrew Smith Executive Vice President, Chief Financial Officer Mr. Smith has served as Executive Vice President and Chief Financial Officer of Patterson-UTI Energy since September 2017. Before joining Patterson-UTI, he was the Chief Financial Officer and Executive Vice President of Kirby Corporation from 2014 to 2017. Mr. Smith also held various senior positions at Global Industries, Natco Group, and Benthic Geotech. He is a Certified Public Accountant (CPA). James Michael Holcomb Chief Operating Officer Mr. Holcomb has been the Chief Business Officer and Executive Vice President of Patterson-UTI Energy since January 2023. He previously served as President of Patterson-UTI Drilling Company and Senior Vice President of Operations of Patterson-UTI Drilling Company LLC from April 2006 to January 2012. Kenneth N. Berns Executive Vice President and Chief Commercial Officer Mr. Berns serves as Executive Vice President and Chief Commercial Officer for Patterson-UTI Energy. He is also a Certified Public Accountant (CPA). Seth D. Wexler Executive Vice President, General Counsel and Secretary Mr. Wexler has served as Executive Vice President, General Counsel and Secretary of Patterson-UTI Energy since January 2023. He previously held the position of Senior Vice President, General Counsel and Secretary at Seventy Seven Energy Inc.

AI Analysis | Feedback

The key risks to Patterson-UTI Energy (PTEN) primarily revolve around the cyclical and evolving nature of the energy industry.

  1. Dependence on Oil and Natural Gas Prices and Demand: Patterson-UTI Energy's financial performance is highly sensitive to prevailing market prices for oil and natural gas and expectations for future prices. Declines in these commodity prices directly lead to reduced capital and operating expenditures by their customers, subsequently decreasing the demand for PTEN's drilling and completion services, which can adversely affect revenue, profitability, and cash flows.
  2. Secular Shift Towards Clean Energy Sources: There is a significant long-term risk stemming from the global transition from fossil fuels to renewable energy sources. This shift, which has been accelerated by global energy crises, could lead to a sustained reduction in demand for oil and natural gas, thereby impacting the long-term viability and profitability of Patterson-UTI Energy's core business.
  3. Impact of Technological Advancements in Oil Extraction: Ongoing technological progress in the oil and gas industry enables producers to extract more hydrocarbons from a fixed number of wells. This increased efficiency means that oil producers can achieve higher output with fewer wells, which in turn reduces the demand for drilling and related oilfield services provided by companies like Patterson-UTI Energy, potentially leading to lower profits despite stable overall production levels.

AI Analysis | Feedback

The accelerating global energy transition, driven by advancements in renewable energy technologies (solar, wind), battery storage, and electric vehicles, is leading to a structural decline in the long-term demand for oil and natural gas. This directly threatens Patterson-UTI's core business by reducing the addressable market and demand for its drilling and completion services, which are predominantly tied to hydrocarbon extraction.

AI Analysis | Feedback

Patterson-UTI Energy (PTEN) operates primarily in North America, providing a range of oilfield services. The addressable markets for their main products and services are sized as follows:

  • Contract Drilling Services: The North America drilling services market was valued at approximately USD 4.31 billion in 2024.
  • Pressure Pumping Services: The North America pressure pumping market is projected to reach USD 8.2 billion by 2024, with a forecasted growth to USD 12.0 billion by 2034.
  • Broader Oilfield Services Market (including drilling, completion, directional drilling, and rental equipment): The North America oilfield services market size was calculated to be USD 46.27 billion in 2024 and is anticipated to be worth USD 61.03 billion by 2033.

AI Analysis | Feedback

Patterson-UTI Energy (PTEN) anticipates several key drivers for revenue growth over the next two to three years:

  1. Increased Natural Gas Drilling Activity: The company expects a potential increase in natural gas drilling activity, particularly in 2026, propelled by the development and commissioning of new Liquefied Natural Gas (LNG) facilities. This trend is expected to boost demand for drilling and completion services.

  2. Expansion and Adoption of Digital and Automation Technologies: Patterson-UTI is investing in and expanding its digital portfolio, including the launch of the PTEN Digital Performance Center and new technologies like Vertex™ Automated Controls. These advanced solutions are designed to enhance operational efficiency and optimize drilling and completion processes for customers, which is anticipated to drive adoption and revenue from these differentiated services.

  3. Realization of Synergies and Integrated Service Offerings from Recent Acquisitions: The company completed strategic acquisitions of Ulterra and merged with NexTier, aiming to enhance its market positioning in the drilling and completions sector. The ongoing integration of these operations and commercial strategies, focusing on fully integrated drilling and completion services, is expected to expand Patterson-UTI's offerings and market share.

  4. Growth in International Drilling Products Business: Patterson-UTI projects growth in its international Drilling Products segment. This international expansion is expected to contribute to a sequential increase in Drilling Products revenue.

AI Analysis | Feedback

Share Repurchases

  • Patterson-UTI Energy repurchased approximately $1 billion in shares under an ongoing buyback program announced in 2013, having repurchased over 92 million shares as of Q3 2025.
  • The company plans to return at least $400 million to shareholders in 2024, including at least $270 million in buybacks.
  • As of Q3 2024, Patterson-UTI had $780 million authorized for repurchase, representing about 25% of its market capitalization, with management expecting significant further buybacks.

Share Issuance

  • Patterson-UTI Energy issued 34.9 million shares of common stock as part of the consideration for the acquisition of Ulterra Drilling Technologies in August 2023.
  • The merger with NexTier Oilfield Solutions in June 2023 was an all-stock transaction, where NexTier shareholders received 0.7520 shares of Patterson-UTI common stock for each NexTier share, with Patterson-UTI shareholders owning approximately 55% of the combined company. This acquisition involved the issuance of 178 million shares.
  • The company's outstanding shares increased significantly by 30.05% in 2023 and 38.98% in 2024, largely due to acquisitions.

Outbound Investments

  • In August 2023, Patterson-UTI Energy acquired Ulterra Drilling Technologies, a global provider of specialized drill bit solutions, for $370 million in cash and 34.9 million shares of Patterson-UTI common stock.
  • Patterson-UTI merged with NexTier Oilfield Solutions in an all-stock transaction in June 2023, creating a combined entity with an enterprise value of approximately $5.4 billion.
  • In July 2021, the company acquired Pioneer Energy Services Corp., which provided land-based contract drilling and production services, for $295 million.

Capital Expenditures

  • Patterson-UTI Energy expects capital expenditures for 2025 to be approximately $600 million, primarily for strategic investments in technology across all businesses.
  • Total capital expenditures for the third quarter of 2025 were $144 million.
  • The company anticipates lower capital expenditures in 2026 compared to 2025, while continuing to maintain key fleet assets and invest in new technologies to generate free cash flow.

Better Bets vs. Patterson-UTI Energy (PTEN)

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Trade Ideas

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Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
TPL_12262025_Dip_Buyer_ValueBuy12262025TPLTexas Pacific LandDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin		82.3%82.3%-2.1%
NOV_12122025_Insider_Buying_GTE_1Mil_EBITp+DE_V212122025NOVNOVInsiderInsider Buys | Low D/EStrong Insider Buying
Companies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap		23.6%23.6%-6.5%
RIG_12122025_Insider_Buying_GTE_1Mil_EBITp+DE_V212122025RIGTransoceanInsiderInsider Buys | Low D/EStrong Insider Buying
Companies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap		56.9%56.9%-7.0%
WHD_11212025_Dip_Buyer_ValueBuy11212025WHDCactusDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin		31.6%31.6%0.0%
OVV_10172025_Dip_Buyer_FCFYield10172025OVVOvintivDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin		41.7%41.7%0.0%

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Peer Comparisons

Peers to compare with:

Financials

PTENHPNBRHALSLBBKRMedian
NamePatterso.Helmeric.Nabors I.Hallibur.SLB Baker Hu. 
Mkt Price9.2734.3781.1334.6547.1960.1040.92
Mkt Cap3.53.41.129.170.659.416.3
Rev LTM4,8274,0863,18522,18435,70927,73313,505
Op Inc LTM-401832633,0915,4573,5571,677
FCF LTM372180-231,6724,5432,5371,022
FCF 3Y Avg420257292,0584,5202,1431,239
CFO LTM9615676932,9266,4893,8101,944
CFO 3Y Avg1,0486866383,4166,5763,4012,224

Growth & Margins

PTENHPNBRHALSLBBKRMedian
NamePatterso.Helmeric.Nabors I.Hallibur.SLB Baker Hu. 
Rev Chg LTM-10.3%48.2%8.7%-3.3%-1.6%-0.3%-1.0%
Rev Chg 3Y Avg25.4%21.7%6.5%3.3%8.6%9.8%9.2%
Rev Chg Q-1.0%50.2%9.3%0.8%5.0%0.3%2.9%
QoQ Delta Rev Chg LTM-0.2%9.1%2.2%0.2%1.3%0.1%0.8%
Op Mgn LTM-0.8%4.5%8.3%13.9%15.3%12.8%10.5%
Op Mgn 3Y Avg3.5%12.7%8.6%16.3%16.4%11.8%12.2%
QoQ Delta Op Mgn LTM0.6%-1.7%-0.2%-0.5%-0.9%0.1%-0.4%
CFO/Rev LTM19.9%13.9%21.8%13.2%18.2%13.7%16.0%
CFO/Rev 3Y Avg22.0%22.4%20.9%15.0%18.8%12.6%19.9%
FCF/Rev LTM7.7%4.4%-0.7%7.5%12.7%9.1%7.6%
FCF/Rev 3Y Avg8.8%8.5%1.0%9.0%12.9%7.9%8.6%

Valuation

PTENHPNBRHALSLBBKRMedian
NamePatterso.Helmeric.Nabors I.Hallibur.SLB Baker Hu. 
Mkt Cap3.53.41.129.170.659.416.3
P/S0.70.80.41.32.02.11.1
P/EBIT-108.2-27.81.513.714.619.27.6
P/E-37.5-10.94.022.720.922.912.5
P/CFO3.76.01.710.010.915.68.0
Total Yield-0.9%-9.2%25.0%6.4%7.0%5.9%6.1%
Dividend Yield1.7%0.0%0.0%2.0%2.3%1.5%1.6%
FCF Yield 3Y Avg13.4%7.8%4.2%7.9%7.4%5.4%7.6%
D/E0.40.62.20.30.20.10.3
Net D/E0.20.51.40.20.10.00.2

Returns

PTENHPNBRHALSLBBKRMedian
NamePatterso.Helmeric.Nabors I.Hallibur.SLB Baker Hu. 
1M Rtn8.3%-3.7%16.3%-0.5%-6.9%2.4%1.0%
3M Rtn49.6%18.2%47.3%24.0%24.1%27.3%25.7%
6M Rtn69.2%74.4%107.4%61.0%33.7%32.8%65.1%
12M Rtn30.3%40.4%96.3%42.4%17.6%43.0%41.4%
3Y Rtn-20.8%-0.2%-39.2%7.5%-0.1%121.4%-0.2%
1M Excs Rtn14.8%0.3%21.3%2.9%-4.7%5.2%4.1%
3M Excs Rtn45.6%16.1%43.4%26.0%25.4%20.1%25.7%
6M Excs Rtn62.9%68.2%106.4%53.7%28.7%28.1%58.3%
12M Excs Rtn18.4%24.8%83.1%27.2%3.9%27.9%26.0%
3Y Excs Rtn-100.8%-83.3%-119.6%-74.0%-78.6%32.3%-81.0%

Financials

Segment Financials

Assets by Segment
$ Mil20252024202320222021
Completion Services2,4693,836   
Drilling Services2,0482,369   
Drilling Products9661,012   
Corporate295145190157301
Other5659   
Contract drilling  2,1972,1702,315
Directional drilling  12187108
Other operations  948689
Pressure pumping  542458487
Total5,8337,4203,1442,9583,299


Price Behavior

Price Behavior
Market Price$9.27 
Market Cap ($ Bil)3.5 
First Trading Date11/02/1993 
Distance from 52W High0.0% 
   50 Days200 Days
DMA Price$7.58$6.16
DMA Trendupup
Distance from DMA22.3%50.4%
 3M1YR
Volatility40.7%58.6%
Downside Capture-106.98106.99
Upside Capture135.07115.25
Correlation (SPY)18.1%61.8%
PTEN Betas & Captures as of 2/28/2026

 1M2M3M6M1Y3Y
Beta1.050.880.841.361.931.58
Up Beta3.562.872.202.531.891.61
Down Beta2.422.071.492.473.002.35
Up Capture104%138%148%110%120%84%
Bmk +ve Days9203170142431
Stock +ve Days13243768130361
Down Capture-131%-221%-124%-1%113%107%
Bmk -ve Days12213054109320
Stock -ve Days8172454116378

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return		Annualized
Volatility		Sharpe
Ratio		Correlation
with PTEN
PTEN37.0%58.6%0.76-
Sector ETF (XLE)34.4%24.8%1.1483.2%
Equity (SPY)19.6%19.1%0.8161.8%
Gold (GLD)77.6%26.1%2.186.9%
Commodities (DBC)20.2%17.2%0.9258.4%
Real Estate (VNQ)6.1%16.4%0.1946.6%
Bitcoin (BTCUSD)-24.3%45.7%-0.4724.8%

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Based On 5-Year Data
Annualized
Return		Annualized
Volatility		Sharpe
Ratio		Correlation
with PTEN
PTEN7.1%56.0%0.34-
Sector ETF (XLE)22.4%26.2%0.7778.1%
Equity (SPY)13.4%17.0%0.6241.5%
Gold (GLD)24.0%17.2%1.1413.1%
Commodities (DBC)11.8%19.0%0.5055.7%
Real Estate (VNQ)5.3%18.8%0.1829.2%
Bitcoin (BTCUSD)7.1%56.8%0.3515.3%

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Based On 10-Year Data
Annualized
Return		Annualized
Volatility		Sharpe
Ratio		Correlation
with PTEN
PTEN-3.1%62.0%0.22-
Sector ETF (XLE)11.5%29.5%0.4376.5%
Equity (SPY)15.2%17.9%0.7344.6%
Gold (GLD)14.9%15.6%0.796.0%
Commodities (DBC)8.9%17.6%0.4253.8%
Real Estate (VNQ)6.2%20.7%0.2633.1%
Bitcoin (BTCUSD)65.7%66.8%1.0512.0%

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Short Interest

Short Interest: As Of Date2132026
Short Interest: Shares Quantity31.5 Mil
Short Interest: % Change Since 131202620.0%
Average Daily Volume11.9 Mil
Days-to-Cover Short Interest2.6 days
Basic Shares Quantity379.2 Mil
Short % of Basic Shares8.3%

Earnings Returns History

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 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
1/5/20264.9%5.3%20.7%
10/23/2025-1.9%-6.8%-18.2%
7/24/2025-3.0%-3.1%-4.8%
4/24/2025-0.2%-3.9%-6.2%
2/6/20252.9%8.4%-11.1%
10/24/20242.5%-3.8%8.9%
7/25/2024-0.1%-2.2%-10.8%
5/2/20240.8%5.4%-1.1%
...
SUMMARY STATS   
# Positive171312
# Negative71112
Median Positive3.3%8.4%20.4%
Median Negative-1.5%-3.9%-9.6%
Max Positive25.7%56.5%69.1%
Max Negative-9.3%-11.7%-21.2%

SEC Filings

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Report DateFiling DateFiling
12/31/202502/10/202610-K
09/30/202510/28/202510-Q
06/30/202507/29/202510-Q
03/31/202504/29/202510-Q
12/31/202402/11/202510-K
09/30/202410/28/202410-Q
06/30/202407/29/202410-Q
03/31/202405/06/202410-Q
12/31/202302/27/202410-K
09/30/202311/09/202310-Q
06/30/202308/01/202310-Q
03/31/202305/01/202310-Q
12/31/202202/13/202310-K
09/30/202210/31/202210-Q
06/30/202208/02/202210-Q
03/31/202205/03/202210-Q

Insider Activity

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#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value		Value of
Held Shares		Form
1Stewart, James Carl JCS Partners LPSell121920255.87350,0002,054,5003,376,741Form
2Stewart, James Carl JCS Partners LPSell121920255.87368,2542,161,6511,215,090Form
3Stewart, James Carl JCS Partners LPSell60420255.5174,500410,4955,098,150Form
4Stewart, James Carl JCS Partners LPSell51320255.985,50032,8905,978,529Form
5Hendricks, William Andrew JrPresident & CEODirectBuy31320257.8825,000197,00019,562,825Form

Industry Resources

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