5 Most Promising Energy Stocks According to Analysts

4. Patterson-UTI Energy, Inc. (NASDAQ:PTEN)

Number of Hedge Fund Holders: 26

One-Year Average Price Target: 21.65

Energy-related equipment and services company Patterson-UTI Energy, Inc. (NASDAQ:PTEN) is one of the most promising energy stocks based on analyst price estimates.

Recently, investment firm UBS added Patterson-UTI Energy, Inc. (NASDAQ:PTEN) to its list of companies that are “de-risked” from earnings. UBS said that companies that are de-risked from earnings have better OCF vs earnings and have posted greater declines in their forward P/E and stronger three-month earnings revisions.

As of the end of the fourth quarter of 2022, 26 hedge funds out of the 943 funds tracked by Insider Monkey had stakes in Patterson-UTI Energy, Inc. (NASDAQ:PTEN). The total value of these stakes was $390 million. The biggest hedge fund stakeholder of Patterson-UTI Energy, Inc. (NASDAQ:PTEN) during this period was Ben Jacobs’ Anomaly Capital Management which has a $95 million stake in the firm.