Analysts have provided the following ratings for Patterson-UTI Energy (NASDAQ:PTEN) within the last quarter:
|Bullish||Somewhat Bullish||Indifferent||Somewhat Bearish||Bearish|
These 8 analysts have an average price target of $16.62 versus the current price of Patterson-UTI Energy at $17.29, implying downside.
Below is a summary of how these 8 analysts rated Patterson-UTI Energy over the past 3 months. The greater the number of bullish ratings, the more positive analysts are on the stock and the greater the number of bearish ratings, the more negative analysts are on the stock
This average price target has increased by 31.07% over the past month.
What Are Analyst Ratings?
Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.
Some analysts also offer predictions for helpful metrics such as earnings, revenue, and growth estimates to provide further guidance as to what to do with certain tickers. It is important to keep in mind that while stock and sector analysts are specialists, they are also human and can only forecast their beliefs to traders.
This article was generated by Benzinga's automated content engine and reviewed by an editor.