Los Angeles Capital Management LLC Boosts Investment in Patterson-UTI Energy by 405.8% in First Quarter
August 9, 2023
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PATTERSON-UTI ($NASDAQ:PTEN): This demonstrates LACM’s confidence in Patterson-UTI Energy, Inc., one of the largest onshore drilling and pressure-pumping services providers for oil and natural gas in North America. It provides contract drilling services, pressure pumping services, and directional drilling services for crude oil, natural gas, and other energy resources.
In addition, it manufactures, sells, rents, and repairs drilling and well-servicing rigs. The company’s customers are mainly comprised of exploration and production companies as well as oilfield services companies. The recent investment by LACM in Patterson-UTI Energy, Inc. marks a significant increase in confidence in the long-term potential of the company. The investment reflects LACM’s belief that Patterson-UTI Energy, Inc. will continue to attract new customers and secure new contracts for its services. Moreover, the company is well-positioned to benefit from the growth of the energy industry, particularly in North America.
Analysis
At GoodWhale, we recently conducted an analysis of PATTERSON-UTI ENERGY‘s fundamentals. Our Risk Rating gave the company a medium risk rating in terms of financial and business aspects. We detected two risk warnings in the income sheet and balance sheet. As a result, we recommend investors to be aware of the risks associated with investing in PATTERSON-UTI ENERGY. If you want to find out more about our analysis, then register on goodwhale.com and get access to detailed insights about the company. We provide a comprehensive view of the company’s financial and business performance, allowing investors to make informed decisions. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Patterson-uti Energy. More…
| Total Revenues | Net Income | Net Margin |
| 3.07k | 345.84 | 11.5% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Patterson-uti Energy. More…
| Operations | Investing | Financing |
| 766.86 | -413.23 | -133.38 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Patterson-uti Energy. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 3.09k | 1.42k | 8.04 |
Key Ratios Snapshot
Some of the financial key ratios for Patterson-uti Energy are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 19.7% | -19.9% | 14.0% |
| FCF Margin | ROE | ROA |
| 10.0% | 16.0% | 8.6% |
Peers
The Company’s subsidiaries include Patterson-UTI Drilling Company LLC and Universal Pressure Pumping, Inc. Patterson-UTI Energy Inc’s competitors include Awilco Drilling PLC, Ensign Energy Services Inc, Talos Energy Inc.
– Awilco Drilling PLC ($LTS:0Q2K)
Awilco Drilling PLC is a provider of offshore drilling services. The company has a market cap of 169.75M as of 2022 and a return on equity of -2683.9%. The company offers a range of services including drilling, well intervention, and decommissioning.
– Ensign Energy Services Inc ($TSX:ESI)
Ensign Energy Services Inc is a Canadian-based oilfield service company with operations in Canada, the United States, Australia, and internationally. The company provides a range of services to the oil and gas industry, including drilling, completion, and production services. Ensign Energy Services Inc has a market capitalization of $532.99 million as of March 2022 and a return on equity of -1.08%. The company’s operations are focused in the Western Canadian Sedimentary Basin, the Permian Basin in the United States, and the Canning Basin in Australia.
– Talos Energy Inc ($NYSE:TALO)
Talos Energy Inc is an American oil and gas exploration and production company with a focus on the Gulf of Mexico and offshore Mexico. The company has a market cap of 1.71B as of 2022. Talos Energy Inc’s Return on Equity is 25.13%. Talos Energy Inc is headquartered in Houston, Texas.
Summary
An analysis of investments in Patterson-UTI Energy, Inc. (PATT) by Los Angeles Capital Management LLC revealed a 405.8% increase in the first quarter. This strong increase in position indicates a significant level of confidence in the company. Other investors should also take note of this and consider investing in PATT stock.
This could be a strategy to diversify portfolios and potentially benefit from favorable market conditions in the energy sector. With careful risk management and a thorough evaluation of PATT’s potential, investors could reap significant rewards for their portfolios in the long run.
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