This very well-known oilfield services stock offers more conservative traders a solid energy play. Patterson-UTI Energy Inc. (NASDAQ: PTEN) provides onshore contract drilling services to oil and natural gas operators in the United States and Canada. It operates through three segments.
The Contract Drilling Services segment markets its contract drilling services, primarily in west Texas and southeastern New Mexico, north central and east Texas, northern Louisiana, Colorado, Wyoming, North Dakota, south Texas, western Oklahoma, Pennsylvania, Ohio and West Virginia.
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 wireline steering tools; and services that enhance the accuracy of horizontal wellbore placement.
The recent BofA Securities upgrade included a target price hike to $10.50 from $9.25. The consensus target is $10.81, and Patterson-UTI Energy stock closed on Friday at $9.36.
Chips are red-hot, and this is a great way to play the arena. Valens Semiconductor Ltd. (NYSE: VLN) engages in the provision of semiconductor products with a focus on enabling high-speed video and data transmission for the audio-video and automotive industries.
The company offers HDBaseT technology that enables the simultaneous delivery of ultra-high-definition digital video and audio, Ethernet, USB, control signals and power through a single long-reach cable. The company offers audio-video solutions for the enterprise, education, digital signage, residential and industrial markets; and automotive solutions, which provide chipsets that support advanced driver-assistance systems, automated driving systems, infotainment, telecommunications and basic connectivity. It serves customers through distributors and representatives in Israel, China, Europe, Japan, Korea, Taiwan, the United States and elsewhere.
Citigroup started coverage recently with a $12 price target. The consensus target is higher at $15. The shares were last seen at $9.94 on Friday.
These are five stocks for aggressive investors looking to get share count leverage on companies that have sizable upside potential. While not suited for all investors, they are not penny stocks with absolutely no track record or liquidity, and major Wall Street firms have research coverage.
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