Goldman Sachs Raises Patterson-UTI Energy, Inc. (PTEN) Price Target by $2

Patterson-UTI Energy, Inc. (NASDAQ:PTEN) is among the 14 Best Oil and Gas Dividend Stocks to Buy Right Now.

Patterson-UTI Energy, Inc. (NASDAQ:PTEN) is a leading provider of drilling and completion services to oil and natural gas exploration and production companies in the United States and other select countries.

Patterson-UTI Energy, Inc. (NASDAQ:PTEN) received a boost on March 4 when Goldman Sachs raised its price target on the stock from $7 to $9, while keeping a ‘Buy’ rating on the shares. The revised target indicates an upside of 2.5% from the current levels.

Goldman Sachs highlighted early signs of dislocation between depressed valuations and underlying fundamentals, despite the possibility of near-term challenges posed by the current geopolitical situation. The analyst firm expects the ongoing geopolitical concerns in the Middle East not to impact customer plans in the long run, as it believes that the major part of the activity increases are structural to help offset decline rates and increasing production capacity.

Patterson-UTI Energy, Inc. (NASDAQ:PTEN) delivered $416 million in adjusted free cash flow for FY 2025, with the fourth quarter marking the highest since the company's 2023 strategic transformation. This enabled the firm to increase its quarterly dividend by 25% to $0.10 per share in the first quarter of 2026.

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