Moody's Investors Service ("Moody's") assigned a Baa3 rating to Patterson-UTI Energy, Inc.'s (Patterson) proposed $400 million of senior unsecured notes due 2033. Patterson's other ratings and stable outlook remain unchanged. Patterson will use net proceeds from the notes issuance to repay borrowi...
Moody's Investors Service ("Moody's") commented that Patterson-UTI Energy, Inc.'s (Patterson) acquisition of Ulterra Drilling Technologies, L.P. (Ulterra) does not currently affect Patterson's ratings or outlook (Baa3 stable). The announcement of this acquisition follows Patterson's announcement la...
Moody's Investors Service (Moody's) commented that Patterson-UTI Energy, Inc.'s (Patterson) all-stock merger with NexTier Oilfield Solutions Inc. (NexTier) does not affect Patterson's ratings (Baa3 stable). The transaction, which has a combined enterprise value of about $5.4 billion, will enhance t...
Rally Continues Following Breaks in USD & 10-Yr Yield Our Russell 2000 (IWM) and S&P 500 targets for this rally have been the 200-day MAs, coinciding with YTD downtrends. The Russell already hit this target while the S&P is closing in, less than 1% away. Still, the vast majority of signals point to further upside ahead for the market indexes. These same signals also suggest a possible end to this bear market, something that we have said would be the case if the IWM and S&P 500 can break above (...
Moody's Investors Service ("Moody's") changed Patterson-UTI Energy, Inc.'s (Patterson) outlook to stable and affirmed its Baa3 senior unsecured rating. "Patterson's outlook change reflects the improving oilfield services market outlook and the company's rising cash flow on the back of increasing ...
In this product we rank the most positive and negative domestic stocks, filter the symbols by market-cap and trading volume, and then divide the companies into sectors and groups. We then manually look through charts leadership/changes, bottoms-up/top-down ideas, short-term patterns that may have long-term significance, etc. We believe you will find this product valuable as significant price and relative moves begin in the daily charts.
Bear Market Rally With Potential for More In last week's Compass (May 24) we noted the S&P 500 was testing support at 3800-3860 within its downtrend channel and that we were on watch for a potential bear market rally/oversold bounce. This has officially begun following the break above 4030 on the S&P 500, which was confirmed by bullish reversals on the Russell 2000 (IWM), Nasdaq 100 (QQQ), DAX, Hang Seng, MSCI China (MCHI), and China Internet (KWEB). For now, we are treating this as a bear mark...
The general evaluation of PATTERSON UTI ENERGY (US), a company active in the Oil Equipment & Services industry, has been upgraded by the independent financial analyst theScreener with the addition of a star. Its fundamental valuation now shows 4 out of 4 possible stars while its market behaviour can be considered as moderately risky. theScreener believes that the additional star(s) merits the upgrade of its general evaluation to Slightly Positive. As of the analysis date February 22, 2022, the c...
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