Patterson-UTI Energy (PTEN) PT Raised to $15 at Stifel

Stifel analyst Stephen Gengaro raised the price target on Patterson-UTI Energy (NASDAQ: PTEN) to $15.00 (from $14.00) while maintaining a Buy rating.

The analyst comments "PTEN recently boosted expectations for 2Q26 EBITDA to be ~$220 million versus our prior $202 million estimate with the upside driven by momentum in both Drilling and Completions, including higher frac pricing. We view the higher 2Q26 guidance as a plus for PTEN and supportive of expectations for rising U.S. land activity over the next 12-18 months. Positive read through for U.S.-leveraged oil service names including for HAL, LBRT, and PUMP. We also highlighted additional details from PTEN during our CSI conference in our note titled, "Key Takeaways from Stifel's Flagship Cross Sector Insights Conference". We are increasing our 2026-27 estimates, reiterating our Buy rating, and raising our target price to $15 from $14."

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