PTEN

Patterson-UTI Energy Inc

Energy, Industrial/Transportation


Presented:08/22/2022
Price:$15.22
Cap:$3.30B
Current Price:$7.89
Cap:$3.10B

Presented

Date08/22/2022
Price$15.22
Market Cap$3.30B
Ent Value$4.35B
P/E RatioN/A
Book Value$7.27
Div Yield0.79%
Shares O/S216.82M
Ave Daily Vol3,346,896
Short Int6.20%

Current

Price$7.89
Market Cap$3.10B
Patterson-UTI Energy, Inc. engages in the provision of drilling and pressure pumping services, directional drilling, rental equipment and technology. It operates through the following segments: Contract Drilling Services, Pressure Pumping Services, and Directional Drilling Services. The Contract Drilling Services segment markets its services to major and independent oil and natural gas operators. The Pressure Pumping Services segment offers pressure pumping services to oil and natural gas operators primarily in Texas and the Appalachian Basin. The Directional Drilling Services segment consists of downhole performance motors and equipment to provide services including directional drilling, downhole performance motors, motor rentals, directional surveying, measurement-while-drilling, and wireline steering tools, in most major onshore oil and natural gas basins. The company was founded by Cloyce A. Talbott and A. Glenn Patterson in 1978 and is headquartered in Houston, TX.

Publicly traded companies mentioned herein: Patterson-UTI Energy Inc (PTEN)

Highlights

The presenter is long shares of Patterson-UTI Energy Inc (PTEN), a provider of land drilling and pressure pumping services, directional drilling, rental equipment and technology in the United States and western Canada. It trades at 5x 2023 consensus EBITDA with limited debt and great cash flow performance. The company appears well-positioned for growth due to market fundamentals and supply/demand dynamics that should lead to a $3B - $4B gain in enterprise value.

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Idea Discussion

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