PTEN Forecast + Trading Strategies


Bullish Case: Patterson-UTI shows potential for recovery with positive drilling trends and strategic acquisitions improving financial stability, possibly moving back toward higher price levels.


Bearish Case: Despite recent acquisitions, persistent insider selling and high market uncertainty undermine investor confidence, suggesting continued price stagnation or decline.


Potential Outcomes:

1. 40%: Recovery driven by improved drilling activity and earnings surprise;

2. 30%: Continued stagnation impacted by insider selling and high P/B ratio;

3. 20%: Strong downturn due to macroeconomic pressures and increased debt;

4. 10%: Unexpected bullish catalyst from market changes.


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July 25, 2024


Patterson-UTI Energy Forecast

PTEN      Patterson-UTI Energy











Correlated Assets

Assets that tend to move strongly with PTEN



LI Forecast + Options Trading Strategies   LI  Li Auto (0.76)


VFC Forecast + Options Trading Strategies   VFC  VF (0.53)


XLE Forecast + Options Trading Strategies   XLE  Energy Select Sector SPDR (0.12)


ETRN Forecast + Options Trading Strategies   ETRN  Equitrans Midstream (-0.65)



Uncorrelated Assets

Assets with little price relationship to PTEN



XLE Forecast + Options Trading Strategies   XLE  Energy Select Sector SPDR (0.12)


VFC Forecast + Options Trading Strategies   VFC  VF (0.53)


ETRN Forecast + Options Trading Strategies   ETRN  Equitrans Midstream (-0.65)


LI Forecast + Options Trading Strategies   LI  Li Auto (0.76)



Anticorrelated Assets

Assets that tend to move strongly against PTEN



LI Forecast + Options Trading Strategies   LI  Li Auto (0.76)


VFC Forecast + Options Trading Strategies   VFC  VF (0.53)


XLE Forecast + Options Trading Strategies   XLE  Energy Select Sector SPDR (0.12)


ETRN Forecast + Options Trading Strategies   ETRN  Equitrans Midstream (-0.65)





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