Market Summary
USD14.42-0.56
Market Closed-3.74%
PTEN Stock Price
PTEN RSI Chart
PTEN Valuation
PTEN Price/Sales (Trailing)
PTEN Profitability
PTEN Fundamentals
PTEN Revenue
PTEN Earnings
Price Action
52 Week Range
9.7019.81
(Low)(High)
Last 7 days
-8.8%
Last 30 days
1.5%
Last 90 days
26.3%
Trailing 12 Months
7.7%
PTEN Financial Health
PTEN Investor Care
Historical Charts for Stock Metrics
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Net sales
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Latest Insider Trading transactions for PTEN
Filter Transactions| Datesorted ascending | Name | Buy/Sell | $ Value | Avg. Price | # Shares | Title |
|---|---|---|---|---|---|---|
2023-09-14 | STEWART JAMES CARL | sold | -993,750 | 15.9 | -62,500 | - |
2023-09-14 | Wexler Seth David | sold | -599,250 | 15.98 | -37,500 | svp/general counsel/secretary |
2023-09-13 | Holcomb James Michael | sold | -188,465 | 15.95 | -11,816 | chief business officer |
2023-09-01 | STEWART JAMES CARL | acquired | - | - | 1,339,750 | - |
2023-09-01 | Drummond Robert Wayne Jr | acquired | - | - | 942,445 | - |
2023-09-01 | Gillard Matthew | acquired | - | - | 65,058 | president-completions |
2023-09-01 | STEWART JAMES CARL | acquired | - | - | 1,435,990 | - |
2023-09-01 | Nelson Amy H | acquired | - | - | 125,438 | - |
2023-09-01 | Beyer Leslie Ann | acquired | - | - | 17,731 | - |
2023-09-01 | STEWART JAMES CARL | acquired | - | - | 96,235 | - |
Which funds bought or sold PTEN recently?
View All Details| Datesorted ascending | Fund Name | Type | % Chg | $ Change | $ Held | % Portfolio |
|---|---|---|---|---|---|---|
2023-09-13 | AWM CAPITAL, LLC | unchanged | - | 9,374 | 415,598 | 0.10% |
2023-09-12 | Farther Finance Advisors, LLC | added | 100 | 24,480 | 47,880 | 0.01% |
2023-08-23 | WOLVERINE TRADING, LLC | new | - | 137,695 | 137,695 | -% |
2023-08-22 | VIRGINIA RETIREMENT SYSTEMS ET AL | reduced | -45.18 | -309,330 | 395,010 | -% |
2023-08-22 | COMERICA BANK | new | - | 16,000 | 16,000 | -% |
2023-08-21 | OSAIC HOLDINGS, INC. | added | 5.84 | 4,928 | 59,489 | -% |
2023-08-21 | TEACHERS RETIREMENT SYSTEM OF THE STATE OF KENTUCKY | added | 5.73 | 63,000 | 841,000 | 0.01% |
2023-08-21 | CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | reduced | -6.68 | -143,065 | 3,019,470 | -% |
2023-08-17 | Coppell Advisory Solutions LLC | new | - | 275 | 275 | -% |
2023-08-16 | Nuveen Asset Management, LLC | reduced | -0.12 | 145,252 | 6,776,250 | -% |
Latest Funds Activity
Calls
Puts
Net Call Options
No. of Funds
Schedule 13G FIlings of Patterson-UTI Energy
| Date Filed | Name of Filer | Percent of Class | No. of Shares | Form Type | |
|---|---|---|---|---|---|
| Aug 18, 2023 | bep diamond topco l.p. | 14.4% | 34,900,000 | SC 13G | |
| Feb 14, 2023 | macquarie group ltd | 6.66% | 14,439,074 | SC 13G/A | |
| Feb 09, 2023 | vanguard group inc | 11.99% | 26,004,724 | SC 13G/A | |
| Jan 23, 2023 | blackrock inc. | 19.0% | 41,182,824 | SC 13G/A | |
| Feb 14, 2022 | macquarie group ltd | 6.03% | 12,980,732 | SC 13G/A | |
| Feb 10, 2022 | van eck associates corp | 5.53% | 11,886,031 | SC 13G/A | |
| Feb 10, 2022 | vanguard group inc | 10.22% | 21,975,906 | SC 13G/A | |
| Feb 08, 2022 | dimensional fund advisors lp | 4.0% | 8,540,650 | SC 13G/A | |
| Jan 27, 2022 | blackrock inc. | 16.3% | 34,992,772 | SC 13G/A | |
| Jan 25, 2022 | blackrock inc. | 16.3% | 34,992,772 | SC 13G/A |
Recent SEC filings of Patterson-UTI Energy
View All Filings| Date Filed | Form Type | Document | |
|---|---|---|---|
| Sep 21, 2023 | 4 | Insider Trading | |
| Sep 18, 2023 | 4 | Insider Trading | |
| Sep 18, 2023 | 4/A | Insider Trading | |
| Sep 15, 2023 | 4 | Insider Trading | |
| Sep 15, 2023 | 4 | Insider Trading | |
| Sep 14, 2023 | 144 | Notice of Insider Sale Intent | |
| Sep 14, 2023 | 144 | Notice of Insider Sale Intent | |
| Sep 13, 2023 | 8-K | Current Report | |
| Sep 13, 2023 | 424B5 | Prospectus Filed | |
| Sep 13, 2023 | 144 | Notice of Insider Sale Intent |
PTEN Fair Value
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Peers (Alternatives to Patterson-UTI Energy)
View All Peers In Detail| Name | Mkt Capsorted ascending | Revenue | Price %, 1M | Returns, 1Y | P/E | P/S | Rev 1-Yr | Inc 1-Yr |
|---|---|---|---|---|---|---|---|---|
| LARGE-CAP | ||||||||
SLB | 83.6B | 31.2B | 4.27% | 56.52% | 21.22 | 2.68 | 25.73% | 50.31% |
EOG | 71.1B | 25.9B | -5.15% | 4.29% | 8.17 | 2.74 | 16.80% | 52.54% |
OXY | 60.4B | 31.8B | -0.56% | 0.30% | 4.68 | 1.64 | -6.68% | -38.20% |
PXD | 52.2B | 20.3B | -5.16% | -2.21% | 9.01 | 2.57 | -14.26% | -6.45% |
HAL | 36.7B | 22.4B | 5.65% | 51.67% | 14.9 | 1.64 | 28.12% | 72.02% |
| MID-CAP | ||||||||
NOV | 8.0B | 8.0B | -0.20% | 22.87% | 19.12 | 0.99 | 30.72% | 567.42% |
CHX | 7.0B | 3.9B | 1.64% | 75.98% | 28.2 | 1.82 | 12.88% | 50.71% |
RIG | 6.1B | 2.7B | 1.66% | 196.64% | -6.05 | 2.28 | 5.94% | -59.24% |
HP | 4.2B | 2.8B | 5.57% | 5.43% | 10.55 | 1.49 | 60.56% | 441.42% |
LBRT | 3.1B | 4.9B | 10.58% | 38.29% | 4.97 | 0.63 | 58.51% | 11504.38% |
PTEN | 3.0B | 3.1B | 1.48% | 7.69% | 8.67 | 0.98 | 56.78% | 176.56% |
| SMALL-CAP | ||||||||
NBR | 1.1B | 3.0B | 13.03% | 8.30% | -39.14 | 0.37 | 33.84% | 94.24% |
DWSN | 60.1M | 67.8M | 29.25% | 21.42% | -3.95 | 0.89 | 71.92% | 36.06% |
ICD | 40.4M | 229.5M | -10.31% | -4.33% | -5.12 | 0.18 | 76.69% | 91.91% |
Patterson-UTI Energy News
Returns for PTEN
Cumulative Returns on PTEN
-2.9%
10-Year Cumulative Returns
-3.3%
7-Year Cumulative Returns
-3.1%
5-Year Cumulative Returns
66.9%
3-Year Cumulative Returns
Risks for PTEN
What is the probability of a big loss on PTEN?
100%
Probability that Patterson-UTI Energy stock will be more than 20% underwater in next one year
99.2%
Probability that Patterson-UTI Energy stock will be more than 30% underwater in next one year.
75.8%
Probability that Patterson-UTI Energy stock will be more than 40% underwater in next one year.
*Calculated based on probability distribution of losses observed in actual data in the last 5 years.
How does PTEN drawdown profile look like?
Y-axis is the maximum loss one would have experienced if Patterson-UTI Energy was unfortunately bought at previous high price.
Drawdowns
Financials for Patterson-UTI Energy
Income Statement (Last 12 Months)
| Income Statement (Last 12 Months) | ||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Description | (%) Q/Q | 2023Q2 | 2023Q1 | 2022Q4 | 2022Q3 | 2022Q2 | 2022Q1 | 2021Q4 | 2021Q3 | 2021Q2 | 2021Q1 | 2020Q4 | 2020Q3 | 2020Q2 | 2020Q1 | 2019Q4 | 2019Q3 | 2019Q2 | 2019Q1 | 2018Q4 | 2018Q3 | 2018Q2 |
| Revenue | 4.7% | 3,066,666,000 | 2,930,019,000 | 2,647,592,000 | 2,325,609,000 | 1,955,991,000 | 1,625,527,000 | 1,357,081,000 | 1,111,389,000 | 960,645,000 | 919,251,000 | 1,124,249,000 | 1,395,745,000 | 1,787,056,000 | 2,212,441,000 | 2,470,685,000 | 2,774,325,000 | 3,043,351,000 | 3,222,004,000 | 3,326,997,000 | 3,318,394,000 | 3,135,905,000 |
| Costs and Expenses | 2.7% | 2,642,971,000 | 2,574,144,000 | 2,436,561,000 | 2,592,187,000 | 2,388,923,000 | 2,204,631,000 | 2,034,831,000 | 1,552,533,000 | 1,426,346,000 | 1,434,626,000 | 2,016,507,000 | 2,246,568,000 | 2,830,618,000 | 3,145,044,000 | 2,932,261,000 | 3,363,928,000 | 3,405,930,000 | 3,545,462,000 | 3,649,174,000 | 3,451,428,000 | 3,226,674,000 |
| S&GA Expenses | 6.0% | 126,872,000 | 119,694,000 | 116,589,000 | 106,218,000 | 99,809,000 | 97,285,000 | 92,382,000 | 89,095,000 | 89,387,000 | 89,823,000 | 97,611,000 | 108,525,000 | 120,401,000 | 131,304,000 | 133,513,000 | 134,451,000 | 133,040,000 | 133,809,000 | 134,071,000 | 136,000,000 | 131,997,000 |
| EBITDA | -100.0% | - | 354,091,000 | 208,118,000 | -270,224,000 | -434,811,000 | -577,713,000 | -677,803,000 | -440,009,000 | -463,867,000 | -233,430,000 | -609,724,000 | -566,795,000 | -758,472,000 | -646,084,000 | -174,650,000 | - | - | - | - | - | - |
| EBITDA Margin | -100.0% | - | 0.12 | 0.08 | -0.12 | -0.22 | -0.36 | -0.50 | -0.40 | -0.48 | -0.25 | -0.54 | -0.41 | -0.42 | -0.29 | -0.07 | - | - | - | - | - | - |
| Interest Expenses | -2.4% | 37,597,000 | 38,517,000 | 40,256,000 | 42,780,000 | 42,488,000 | 42,534,000 | 41,978,000 | 38,670,000 | 39,275,000 | 39,555,000 | 40,770,000 | 61,679,000 | 71,130,000 | 73,444,000 | 75,204,000 | 59,931,000 | 51,568,000 | 50,937,000 | 51,578,000 | 49,211,000 | 46,419,000 |
| Earnings Before Taxes | 23.7% | 390,287,000 | 315,574,000 | 167,862,000 | -313,004,000 | -477,299,000 | -620,247,000 | -719,781,000 | -478,679,000 | -503,142,000 | -553,509,000 | -931,018,000 | -908,998,000 | -1,110,126,000 | -1,000,052,000 | -530,378,000 | -643,644,000 | -408,971,000 | -368,491,000 | -367,408,000 | -176,145,000 | -132,007,000 |
| EBT Margin | -100.0% | - | 0.11 | 0.06 | -0.13 | -0.24 | -0.38 | -0.53 | -0.43 | -0.52 | -0.60 | -0.83 | -0.65 | -0.62 | -0.45 | -0.21 | - | - | - | - | - | - |
| Net Income | 22.2% | 345,841,000 | 283,113,000 | 154,658,000 | -307,264,000 | -451,714,000 | -576,909,000 | -654,545,000 | -399,247,000 | -428,360,000 | -475,383,000 | -803,692,000 | -783,088,000 | -932,696,000 | -831,811,000 | -425,703,000 | -541,029,000 | -354,352,000 | -315,618,000 | -321,421,000 | 75,230,000 | 116,503,000 |
| Net Income Margin | -100.0% | - | 0.10 | 0.06 | -0.13 | -0.23 | -0.35 | -0.48 | -0.36 | -0.45 | -0.52 | -0.71 | -0.56 | -0.52 | -0.38 | -0.17 | - | - | - | - | - | - |
| Free Cashflow | -100.0% | - | 307,293,000 | 129,391,000 | -85,891,000 | -164,629,000 | -122,077,000 | -70,824,000 | -54,104,000 | 23,269,000 | 122,113,000 | 133,377,000 | 196,380,000 | 296,384,000 | 284,563,000 | 348,691,000 | - | - | - | - | - | - |
Balance Sheet(In Millions)
| Balance Sheet | (In Millions) | |||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Description | (%) Q/Q | 2023Q2 | 2023Q1 | 2022Q4 | 2022Q3 | 2022Q2 | 2022Q1 | 2021Q4 | 2021Q3 | 2021Q2 | 2021Q1 | 2020Q4 | 2020Q3 | 2020Q2 | 2020Q1 | 2019Q4 | 2019Q3 | 2019Q2 | 2019Q1 | 2018Q4 | 2018Q3 | 2018Q2 |
| Assets | 0.8% | 3,117 | 3,092 | 3,144 | 3,042 | 2,960 | 2,889 | 2,958 | 3,017 | 3,073 | 3,172 | 3,299 | 3,491 | 3,625 | 3,870 | 4,440 | 4,609 | 5,192 | 5,368 | 5,470 | 5,820 | 5,954 |
| Current Assets | 2.7% | 801 | 780 | 829 | 713 | 621 | 533 | 584 | 544 | 508 | 488 | 478 | 532 | 518 | 585 | 632 | 678 | 898 | 928 | 950 | 1,007 | 1,008 |
| Cash Equivalents | -4.4% | 150 | 157 | 138 | 43.00 | 20.00 | 48.00 | 118 | 191 | 217 | 214 | 225 | 304 | 247 | 152 | 174 | 165 | 256 | 249 | 245 | 214 | 242 |
| Inventory | 4.2% | 68.00 | 65.00 | 58.00 | 55.00 | 54.00 | 45.00 | 42.00 | 35.00 | 34.00 | 34.00 | 33.00 | 34.00 | 35.00 | 34.00 | 36.00 | 37.00 | 69.00 | 66.00 | 66.00 | 69.00 | 81.00 |
| Net PPE | 0.4% | 2,264 | 2,253 | 2,261 | 2,279 | 2,289 | 2,306 | 2,332 | 2,425 | 2,512 | 2,628 | 2,761 | 2,893 | 3,034 | 3,187 | 3,307 | 3,433 | 3,769 | 3,899 | 4,003 | 4,081 | 4,209 |
| Liabilities | -1.6% | 1,397 | 1,419 | 1,478 | 1,408 | 1,384 | 1,312 | 1,348 | 1,292 | 1,266 | 1,260 | 1,283 | 1,372 | 1,396 | 1,491 | 1,606 | 1,666 | 1,913 | 1,964 | 1,964 | 2,065 | 2,074 |
| Current Liabilities | -6.7% | 454 | 487 | 551 | 460 | 448 | 396 | 436 | 339 | 293 | 272 | 274 | 263 | 272 | 354 | 401 | 439 | 470 | 511 | 526 | 608 | 601 |
| LT Debt, Non Current | 0.0% | 822 | 822 | 831 | 853 | 878 | 853 | 852 | 902 | 902 | 902 | 901 | 967 | 967 | 967 | 967 | 970 | 1,120 | 1,119 | 1,119 | 1,119 | 1,119 |
| Shareholder's Equity | 2.8% | 1,720 | 1,673 | 1,666 | 1,634 | 1,576 | 1,577 | 1,609 | 1,726 | 1,808 | 1,912 | 2,016 | 2,120 | 2,229 | 2,379 | 2,834 | 2,943 | 3,278 | 3,403 | 3,505 | 3,755 | 3,880 |
| Retained Earnings | 1385.0% | 63.00 | -4.89 | -87.39 | -170 | -222 | -235 | -198 | 168 | 255 | 362 | 472 | 582 | 698 | 852 | 1,295 | 1,389 | 1,658 | 1,716 | 1,754 | 1,964 | 2,047 |
| Additional Paid-In Capital | 0.2% | 3,209 | 3,202 | 3,203 | 3,197 | 3,192 | 3,176 | 3,172 | 2,919 | 2,914 | 2,908 | 2,902 | 2,896 | 2,889 | 2,885 | 2,876 | 2,866 | 2,857 | 2,836 | 2,827 | 2,815 | 2,806 |
| Shares Outstanding | 0.0% | 208 | 208 | 214 | 217 | 216 | 215 | 215 | 189 | 188 | 188 | 188 | 187 | 187 | 191 | 192 | 199 | 207 | 212 | 214 | 218 | 220 |
Cashflow (Last 12 Months)(In Millions)
| Cashflow (Last 12 Months) | (In Millions) | |||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Description | (%) Q/Q | 2023Q2 | 2023Q1 | 2022Q4 | 2022Q3 | 2022Q2 | 2022Q1 | 2021Q4 | 2021Q3 | 2021Q2 | 2021Q1 | 2020Q4 | 2020Q3 | 2020Q2 | 2020Q1 | 2019Q4 | 2019Q3 | 2019Q2 | 2019Q1 | 2018Q4 | 2018Q3 | 2018Q2 |
| Cashflow From Operations | 14.5% | 878 | 767 | 566 | 307 | 136 | 121 | 95.00 | 47.00 | 104 | 214 | 279 | 396 | 550 | 586 | 696 | 826 | 796 | 765 | 731 | 658 | 586 |
| Share Based Compensation | 10.0% | 17.00 | 16.00 | 21.00 | 20.00 | 20.00 | 20.00 | 22.00 | 23.00 | 25.00 | 23.00 | 27.00 | 29.00 | 32.00 | 39.00 | 39.00 | 40.00 | 39.00 | 38.00 | 38.00 | 38.00 | 42.00 |
| Cashflow From Investing | -9.4% | -477 | -436 | -413 | -360 | -268 | -209 | -131 | -78.23 | -52.29 | -73.24 | -124 | -168 | -232 | -273 | -301 | -402 | -491 | -564 | -584 | -716 | -701 |
| Cashflow From Financing | -21.2% | -270 | -223 | -133 | -95.89 | -66.05 | -76.80 | -71.93 | -81.64 | -81.75 | -79.25 | -103 | -88.43 | -326 | -409 | -465 | -471 | -290 | -254 | 57.00 | 235 | 318 |
| Dividend Payments | 15.4% | 59.00 | 51.00 | 43.00 | 30.00 | 25.00 | 20.00 | 16.00 | 15.00 | 15.00 | 15.00 | 19.00 | 23.00 | 27.00 | 32.00 | 32.00 | 33.00 | 34.00 | 35.00 | 31.00 | 26.00 | 22.00 |
| Buy Backs | 10.1% | 158 | 144 | 70.00 | 16.00 | 16.00 | 4.00 | 6.00 | 0.00 | 0.00 | - | 21.00 | 46.00 | 122 | 200 | 255 | 280 | 256 | 220 | 162 | 112 | 63.00 |
PTEN Income Statement
2023-06-30CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
| Operating revenues: | ||||
| Total operating revenues | $ 758,885 | $ 622,238 | $ 1,550,687 | $ 1,131,613 |
| Operating costs and expenses: | ||||
| Depreciation, depletion, amortization and impairment | 126,814 | 121,553 | 254,994 | 238,491 |
| Selling, general and administrative | 33,257 | 26,079 | 63,823 | 53,540 |
| Merger and integration expenses | 7,940 | 182 | 7,940 | 2,045 |
| Other operating income, net | (1,793) | (9,238) | (7,359) | (10,456) |
| Total operating costs and expenses | 654,303 | 585,476 | 1,320,142 | 1,113,732 |
| Operating income | 104,582 | 36,762 | 230,545 | 17,881 |
| Other income (expense): | ||||
| Interest income | 1,212 | 14 | 2,452 | 29 |
| Interest expense, net of amount capitalized | (9,738) | (10,658) | (18,564) | (21,223) |
| Other | 2,323 | (2,452) | 3,809 | (870) |
| Total other expense | (6,203) | (13,096) | (12,303) | (22,064) |
| Income (loss) before income taxes | 98,379 | 23,666 | 218,242 | (4,183) |
| Income tax expense | 13,765 | 1,780 | 33,950 | 2,708 |
| Net income (loss) | $ 84,614 | $ 21,886 | $ 184,292 | $ (6,891) |
| Net loss per common share: | ||||
| Basic | $ 0.41 | $ 0.10 | $ 0.88 | $ (0.03) |
| Diluted | $ 0.40 | $ 0.10 | $ 0.87 | $ (0.03) |
| Weighted average number of common shares outstanding: | ||||
| Basic | 207,839 | 216,165 | 209,952 | 215,718 |
| Diluted | 208,984 | 219,676 | 211,188 | 215,718 |
| Cash dividends per common share | $ 0.08 | $ 0.04 | $ 0.16 | $ 0.08 |
| Contract Drilling | ||||
| Operating revenues: | ||||
| Total operating revenues | $ 432,375 | $ 304,586 | $ 851,401 | $ 561,226 |
| Operating costs and expenses: | ||||
| Operating costs and expenses | 231,420 | 196,269 | 461,778 | 372,975 |
| Pressure Pumping | ||||
| Operating revenues: | ||||
| Total operating revenues | 250,241 | 238,376 | 543,509 | 427,966 |
| Operating costs and expenses: | ||||
| Operating costs and expenses | 196,473 | 191,455 | 416,589 | 348,923 |
| Directional Drilling | ||||
| Operating revenues: | ||||
| Total operating revenues | 55,141 | 54,825 | 111,404 | 98,159 |
| Operating costs and expenses: | ||||
| Operating costs and expenses | 47,365 | 45,438 | 95,411 | 82,392 |
| Other | ||||
| Operating revenues: | ||||
| Total operating revenues | 21,128 | 24,451 | 44,373 | 44,262 |
| Operating costs and expenses: | ||||
| Operating costs and expenses | $ 12,827 | $ 13,738 | $ 26,966 | $ 25,822 |
PTEN Balance Sheet
2023-06-30CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
|---|---|---|
| Current assets: | ||
| Cash and cash equivalents | $ 150,288 | $ 137,553 |
| Accounts receivable, net of allowance for credit losses of $2,828 and $2,875 at June 30, 2023 and December 31, 2022, respectively | 491,049 | 565,520 |
| Inventory | 68,036 | 58,038 |
| Other current assets | 91,954 | 68,308 |
| Total current assets | 801,327 | 829,419 |
| Property and equipment, net | 2,263,581 | 2,260,576 |
| Right of use asset | 18,771 | 20,841 |
| Intangible assets, net | 5,140 | 5,845 |
| Deposits on equipment purchases | 14,222 | 13,051 |
| Other assets | 10,128 | 10,881 |
| Deferred tax assets, net | 4,027 | 3,210 |
| Total assets | 3,117,196 | 3,143,823 |
| Current liabilities: | ||
| Accounts payable | 245,562 | 237,056 |
| Accrued liabilities | 204,006 | 308,787 |
| Lease liability | 4,753 | 5,123 |
| Total current liabilities | 454,321 | 550,966 |
| Long-term lease liability | 17,287 | 19,594 |
| Long-term debt, net of debt discount and issuance costs of $4,992 and $5,468 at June 30, 2023 and December 31, 2022, respectively | 822,408 | 830,937 |
| Deferred tax liabilities, net | 58,635 | 28,738 |
| Other liabilities | 44,376 | 48,065 |
| Total liabilities | 1,397,027 | 1,478,300 |
| Commitments and contingencies (see Note 9) | ||
| Stockholders' equity: | ||
| Preferred stock, par value $0.01; authorized 1,000,000 shares, no shares issued | 0 | 0 |
| Common stock, par value $0.01; authorized 400,000,000 shares with 304,927,639 and 302,325,853 issued and 207,993,589 and 213,567,131 outstanding at June 30, 2023 and December 31, 2022, respectively | 3,049 | 3,023 |
| Additional paid-in capital | 3,208,927 | 3,202,973 |
| Retained earnings (deficit) | 62,899 | (87,394) |
| Treasury stock, at cost, 96,934,050 and 88,758,722 shares at June 30, 2023 and December 31, 2022, respectively | (1,554,706) | (1,453,079) |
| Total stockholders' equity | 1,720,169 | 1,665,523 |
| Total liabilities and stockholders' equity | $ 3,117,196 | $ 3,143,823 |
Patterson-UTI Energy, Inc., through its subsidiaries, provides onshore contract drilling services to oil and natural gas operators in the United States and internationally. It operates through three segments: Contract Drilling Services, Pressure Pumping Services, and Directional Drilling Services. The Contract Drilling Services segment markets its contract drilling services primarily in west Texas, Appalachia, Rockies, Oklahoma, South Texas, East Texas, and Colombia. As of December 31, 2021, this segment had a drilling fleet of 192 marketable land-based drilling rigs. The Pressure Pumping Services segment offers pressure pumping services that consist of well stimulation for the completion of new wells and remedial work on existing wells, as well as hydraulic fracturing, cementing, and acid pumping services in Texas and the Appalachian region. The Directional Drilling Services segment provides a suite of directional drilling services, including directional drilling and measurement-while-drilling services; supply and rental of downhole performance motors; and software and services that enhances the accuracy of directional and horizontal wellbores, wellbore quality, and on-bottom rate of penetration. It also services equipment to drilling contractors, as well as provides electrical controls and automation to the energy, marine, and mining industries in North America and other markets; and owns and invests in oil and natural gas assets as a non-operating working interest owner located principally in Texas and New Mexico. Patterson-UTI Energy, Inc. was founded in 1978 and is headquartered in Houston, Texas.