PE of 6 , a PEG ratio of 0.57 , and pays a yield of 5.10%.

Patterson-UTI (PTEN) was upgraded at CSFB. Rating raised to Neutral from Underperform. 2008 EPS estimates raised to $2.15 from $2.05. Price target raised to $30 from $21.

Credit Suisse said it is upgrading PTEN to Neutral from Underperform based on improved outlook for U.S. drilling activity and dayrates. Q1 management commentary was positive, including plans to deploy most of remaining NOV IDEAL rigs into field by year-end. Price target at $30.

Merrill Lynch said it is upgrading Patterson (PTEN) to Neutral from Sell, based on limited downside to earnings. Note #1 rank in number of rigs operating domestically, and see improved drilling activity helping stabilize PTEN's margin declines. See only modest upside to current share price.

P/E of 6, a PEG of 1.17 , and a yield of 2.5 .

under valued

Patterson-UTI (PTEN) was upgraded from Market Perform to Outperform, Bernstein said. Valuation call, as earnings expectations have moderated.

Patterson-UTI Energy recently announced a $250 million dollar buyback.

Contract drilling services provider Patterson-UTI Energy recently reported second-quarter financial results that blew past analysts' expectations.

The stock trades for 3x cash flow.

Valuation. A hurricane play.

dn

Downgraded by RBC from Outperform to Sector Perform

FAILED TREND

oil growth