Patterson-UTI (PTEN +2%) is higher on news of a deal with an unidentified privately-held company to acquire pressure pumping operations in east Texas, including 31.5K horsepower of hydraulic fracturing equipment.
In my intuition, the most attractive segment of Patterson-UTI's stock price trajectory is already behind us.
While the current valuation leaves room for upside, the downside can also be significant and may be driven by the potential confluence of the industry's aggressive capacity additions and a quick inflection in demand for rigs due to weaker oil prices and improving rig productivity.
News 
Market Data 
Discover 
