Patterson-UTI Energy, Inc. (NASDAQ:PTEN) Stock Has Average Price Target of $13.14 According to Brokerages

Shares of Patterson-UTI Energy, Inc. (NASDAQ:PTEN) have been given an average recommendation of “Moderate Buy” by the sixteen research firms that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and nine have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $13.14.

A number of research analysts have commented on the stock. Weiss Ratings restated a “sell (d+)” rating on shares of Patterson-UTI Energy in a research note on Friday, August 21st. Piper Sandler reiterated an “overweight” rating on shares of Patterson-UTI Energy in a research note on Friday, August 21st. Susquehanna boosted their target price on Patterson-UTI Energy from $12.00 to $13.00 and gave the company a “positive” rating in a report on Monday, August 3rd. JPMorgan Chase & Co. raised Patterson-UTI Energy from an “underweight” rating to a “neutral” rating and set a $12.00 price target for the company in a report on Friday, July 31st. Finally, Barclays lifted their price objective on shares of Patterson-UTI Energy from $15.00 to $16.00 and gave the company an “overweight” rating in a research report on Wednesday, August 5th.

Insiders Place Their Bets

In related news, CEO William Hendricks, Jr. sold 250,000 shares of Patterson-UTI Energy stock in a transaction that occurred on Friday, September 18th. The stock was sold at an average price of $11.91, for a total value of $2,977,500.00. Following the sale, the chief executive officer directly owned 2,042,474 shares in the company, valued at $24,325,865.34. The trade was a 10.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Seth Wexler sold 120,000 shares of the company’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $12.75, for a total value of $1,530,000.00. Following the transaction, the executive vice president directly owned 404,582 shares in the company, valued at $5,158,420.50. This represents a 22.88% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 1,027,000 shares of company stock worth $12,698,780 over the last quarter. 2.20% of the stock is owned by company insiders.

Institutional Trading of Patterson-UTI Energy

A number of institutional investors have recently bought and sold shares of the company. Lazard Asset Management LLC boosted its holdings in shares of Patterson-UTI Energy by 6.2% in the 1st quarter. Lazard Asset Management LLC now owns 21,339 shares of the oil and gas company’s stock valued at $231,000 after buying an additional 1,255 shares during the period. Assetmark Inc. grew its holdings in shares of Patterson-UTI Energy by 8.1% during the first quarter. Assetmark Inc. now owns 23,797 shares of the oil and gas company’s stock valued at $258,000 after purchasing an additional 1,786 shares during the last quarter. DGS Capital Management LLC raised its position in shares of Patterson-UTI Energy by 15.2% during the 1st quarter. DGS Capital Management LLC now owns 17,744 shares of the oil and gas company’s stock worth $192,000 after purchasing an additional 2,338 shares during the period. Gamco Investors INC. ET AL raised its position in shares of Patterson-UTI Energy by 5.0% during the 1st quarter. Gamco Investors INC. ET AL now owns 56,415 shares of the oil and gas company’s stock worth $611,000 after purchasing an additional 2,690 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Patterson-UTI Energy during the 2nd quarter valued at approximately $32,000. 97.91% of the stock is currently owned by hedge funds and other institutional investors.

Patterson-UTI Energy Stock Down 1.6%

Patterson-UTI Energy stock opened at $11.23 on Friday. The company has a market capitalization of $4.28 billion, a P/E ratio of -48.83 and a beta of 0.77. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.57 and a current ratio of 1.75. Patterson-UTI Energy has a fifty-two week low of $5.24 and a fifty-two week high of $13.39. The stock has a 50-day simple moving average of $11.59 and a 200-day simple moving average of $11.05.

Patterson-UTI Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st were given a $0.10 dividend. The ex-dividend date was Tuesday, September 1st. This represents a $0.40 dividend on an annualized basis and a yield of 3.6%. Patterson-UTI Energy’s dividend payout ratio (DPR) is presently -173.91%.

Patterson-UTI Energy News Summary

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

• Positive Sentiment: Zacks Research increased its FY2027 EPS forecast to $0.12 from $0.08 and raised estimates for Q2 2027 and Q4 2027 to $0.05 and $0.06, respectively. These revisions suggest improved expectations for Patterson-UTI Energy’s earnings recovery. Zacks Research earnings estimates
• Neutral Sentiment: Patterson-UTI Energy will hold its third-quarter earnings conference call on October 29, giving investors a forthcoming update on drilling activity, operating conditions and management’s outlook. The announcement itself provided no new financial or operational results. Patterson-UTI Energy third-quarter earnings conference call announcement
• Negative Sentiment: Zacks Research lowered its Q1 2028 EPS estimate to $0.09 from $0.10. It also maintains a “Hold” rating, while the consensus forecast calls for a $0.01 loss per share for the current full year, limiting the positive impact from the higher 2027 projections. PTEN stock earnings forecast update

Patterson-UTI Energy Company Profile

Patterson-UTI Energy, Inc (NASDAQ: PTEN) is an energy services company that provides drilling and well-completion solutions to oil and natural gas exploration and production companies. Its operations support the development of unconventional and conventional wells, primarily in North America.

The company’s drilling services include contract land drilling, directional drilling, and related technologies designed to improve well placement, efficiency, and performance. Patterson-UTI also provides completion services, including pressure pumping, wireline, and other well-completion and production-support services.

Through its drilling products business, Patterson-UTI manufactures and distributes drilling equipment and downhole tools, including drill bits, drilling motors, and related products.