Citigroup Raises Price Target for Patterson-UTI Energy

Oil and gas company's stock given new $9.00 price target by Citigroup analysts

Published on Feb. 9, 2026

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Citigroup analysts have raised their price target for Patterson-UTI Energy (NASDAQ:PTEN) from $7.00 to $9.00, while maintaining a "neutral" rating on the stock. The new price target represents a potential upside of 1.98% from the company's previous close.

Why it matters

This price target increase by a major investment bank signals that analysts see potential upside in Patterson-UTI Energy's stock, despite maintaining a neutral rating. The company operates in the oil and gas industry, which has faced challenges in recent years, so this development could be seen as a positive indicator for the company's future performance.

The details

Citigroup cited the company's recent financial results and industry outlook as factors in their decision to raise the price target. Other analysts have also recently issued reports on Patterson-UTI Energy, with some maintaining a "buy" rating and others a "hold" or "sell" rating.

  • Citigroup issued the new price target on Monday, February 9, 2026.

The players

Patterson-UTI Energy

An American oil and gas company that provides onshore contract drilling and pressure pumping services in North America.

Citigroup

A multinational investment bank and financial services corporation that provides a wide range of financial products and services, including investment banking, commercial banking, and wealth management.

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What they’re saying

“We must not let individuals continue to damage private property in San Francisco.”

— Robert Jenkins, San Francisco resident (San Francisco Chronicle)

The takeaway

This price target increase by Citigroup suggests that analysts see potential upside in Patterson-UTI Energy's stock, despite the challenges facing the oil and gas industry. However, the company's overall performance and future outlook will ultimately depend on a variety of factors, including market conditions, industry trends, and the company's ability to adapt and innovate.