Zacks Research Upgrades Patterson-UTI Energy (NASDAQ:PTEN) to Strong-Buy

Patterson-UTI Energy (NASDAQ:PTEN) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

A number of other equities research analysts have also issued reports on the company. Piper Sandler upgraded Patterson-UTI Energy from a “neutral” rating to an “overweight” rating and set a $13.00 price target for the company in a research report on Tuesday, July 14th. KeyCorp raised Patterson-UTI Energy to an “overweight” rating in a research report on Wednesday, May 27th. Susquehanna decreased their target price on shares of Patterson-UTI Energy from $14.00 to $12.00 and set a “positive” rating on the stock in a research report on Wednesday, July 8th. The Goldman Sachs Group lifted their price target on shares of Patterson-UTI Energy from $11.00 to $13.00 and gave the company a “buy” rating in a research report on Thursday, June 4th. Finally, Morgan Stanley upped their price objective on shares of Patterson-UTI Energy from $7.00 to $10.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 15th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $12.15.

Patterson-UTI Energy Price Performance

NASDAQ:PTEN opened at $9.85 on Wednesday. Patterson-UTI Energy has a 52 week low of $5.10 and a 52 week high of $13.08. The company has a quick ratio of 1.63, a current ratio of 1.84 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $3.74 billion, a PE ratio of -42.83 and a beta of 0.62. The stock’s 50-day moving average price is $10.37 and its 200-day moving average price is $9.92.

Patterson-UTI Energy (NASDAQ:PTEN) last released its quarterly earnings results on Wednesday, July 29th. The oil and gas company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.01). The business had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.15 billion. Patterson-UTI Energy had a negative return on equity of 1.67% and a negative net margin of 1.92%.The business’s revenue for the quarter was up .7% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.13) EPS. As a group, equities analysts expect that Patterson-UTI Energy will post -0.06 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO William Andrew Hendricks, Jr. sold 200,000 shares of the business’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $11.64, for a total transaction of $2,328,000.00. Following the completion of the transaction, the chief executive officer directly owned 2,542,474 shares of the company’s stock, valued at $29,594,397.36. The trade was a 7.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Forrest C. Robinson sold 13,670 shares of the company’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $12.01, for a total value of $164,176.70. Following the sale, the chief accounting officer owned 56,842 shares in the company, valued at approximately $682,672.42. This trade represents a 19.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 435,145 shares of company stock valued at $5,074,506. 2.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Patterson-UTI Energy

A number of large investors have recently modified their holdings of PTEN. Quarry LP raised its stake in Patterson-UTI Energy by 360.3% in the third quarter. Quarry LP now owns 4,934 shares of the oil and gas company’s stock valued at $26,000 after buying an additional 3,862 shares in the last quarter. First Horizon Corp lifted its stake in Patterson-UTI Energy by 58.5% during the fourth quarter. First Horizon Corp now owns 5,554 shares of the oil and gas company’s stock worth $34,000 after purchasing an additional 2,049 shares during the last quarter. Rockefeller Capital Management L.P. increased its stake in Patterson-UTI Energy by 187.6% in the fourth quarter. Rockefeller Capital Management L.P. now owns 6,591 shares of the oil and gas company’s stock valued at $40,000 after purchasing an additional 4,299 shares during the last quarter. Torren Management LLC acquired a new stake in Patterson-UTI Energy during the fourth quarter worth approximately $44,000. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Patterson-UTI Energy by 494.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 8,621 shares of the oil and gas company’s stock worth $51,000 after buying an additional 7,171 shares during the last quarter. 97.91% of the stock is owned by hedge funds and other institutional investors.

Patterson-UTI Energy News Roundup

Here are the key news stories impacting Patterson-UTI Energy this week:

• Positive Sentiment: Second-quarter revenue totaled $1.23 billion, exceeding analysts’ estimate of $1.15 billion and increasing approximately 0.7% year over year. The sales outperformance is the primary reason for the stock’s advance. Patterson-UTI posts better-than-expected sales in Q2 CY2026
• Positive Sentiment: Reported earnings improved from a loss of $0.13 per share in the year-ago quarter to a loss of $0.05 per share. Some adjusted-earnings coverage characterized results as break-even, ahead of the consensus expectation for a $0.03 loss, suggesting better underlying performance than last year. Patterson-UTI reports break-even earnings for Q2
• Positive Sentiment: Patterson-UTI declared a quarterly dividend of $0.10 per share, payable September 15 to shareholders of record September 1. The dividend represents an annualized yield of roughly 4.2%, which may support income-focused investor interest.
• Neutral Sentiment: The company’s results were mixed across key metrics, with revenue well above expectations but profitability still pressured. Investors will likely look for details on drilling activity, pricing, margins and management’s outlook in the earnings materials and conference call. Patterson-UTI earnings conference call
• Negative Sentiment: GAAP EPS of negative $0.05 missed the consensus estimate of negative $0.04 by $0.01. Patterson-UTI also reported a negative net margin of 2.56% and negative return on equity of 2.32%, indicating that the business remains unprofitable despite the revenue beat. Patterson-UTI second-quarter earnings

Patterson-UTI Energy Company Profile

Patterson-UTI Energy provides a comprehensive suite of onshore contract drilling and pressure pumping services to exploration and production companies in North America. The company’s core offerings include land-based drilling rigs, directional drilling, hydraulic fracturing services, downhole tool rental and well-servicing equipment. By integrating drilling and completion capabilities, Patterson-UTI Energy offers operators a streamlined solution designed to improve operational efficiency and well performance.

Headquartered in Houston, Texas, Patterson-UTI Energy traces its origins to its founding in 1978 and was later incorporated in Delaware in 1996.