Patterson-UTI Energy, Inc. (NASDAQ:PTEN) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Patterson-UTI Energy, Inc. (NASDAQ:PTEN) have earned an average recommendation of “Moderate Buy” from the fifteen research firms that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and nine have given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $13.25.

Several research analysts have issued reports on the stock. KeyCorp upgraded shares of Patterson-UTI Energy to an “overweight” rating in a research report on Wednesday, May 27th. Zacks Research downgraded Patterson-UTI Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 27th. Susquehanna raised their price objective on Patterson-UTI Energy from $12.00 to $13.00 and gave the stock a “positive” rating in a research note on Monday, August 3rd. Piper Sandler restated an “overweight” rating on shares of Patterson-UTI Energy in a report on Friday, August 21st. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Patterson-UTI Energy in a research report on Friday, August 21st.

More Patterson-UTI Energy News

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

• Positive Sentiment: Zacks raised its FY2027 EPS forecast to $0.08 from $0.04 and its FY2028 forecast to $0.41 from $0.38. The firm also lifted estimates for Q2 2027, Q3 2027, Q1 2028 and Q2 2028, suggesting expectations for improving profitability over the next several years. MarketBeat Patterson-UTI Energy estimates
• Positive Sentiment: Zacks increased its Q4 2026 estimate from a loss of $0.01 per share to breakeven, while projecting $0.04 EPS in Q2 2027 and $0.03 EPS in Q3 2027. These revisions improve the expected earnings trajectory, although the current full-year consensus remains a loss of $0.02 per share. MarketBeat Patterson-UTI Energy estimates
• Neutral Sentiment: Patterson-UTI averaged 101 revenue-earning U.S. drilling rigs in August and 100 rigs during the two months ended August 31. The activity level indicates continued utilization, but the update provided no day rates, contract durations, fleet-class utilization or margins, leaving the financial impact uncertain. Patterson-UTI averaged 101 August rigs
• Neutral Sentiment: Reported September short-interest data showed zero shares and a zero-day short-interest ratio, unchanged from the prior period. Because the figures appear incomplete or erroneous, they provide no meaningful signal about potential short-covering or selling pressure.

Insider Activity

In other news, Director Robert Wayne Drummond, Jr. sold 198,395 shares of the business’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $12.85, for a total transaction of $2,549,375.75. Following the sale, the director owned 928,773 shares in the company, valued at $11,934,733.05. The trade was a 17.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William Andrew Hendricks, Jr. sold 250,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $12.93, for a total transaction of $3,232,500.00. Following the completion of the sale, the chief executive officer owned 2,292,474 shares of the company’s stock, valued at approximately $29,641,688.82. This trade represents a 9.83% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 777,000 shares of company stock valued at $9,721,280. Corporate insiders own 2.20% of the company’s stock.

Institutional Trading of Patterson-UTI Energy

Several large investors have recently added to or reduced their stakes in PTEN. BlackRock Inc. acquired a new stake in shares of Patterson-UTI Energy in the second quarter worth $577,234,000. Dimensional Fund Advisors LP boosted its position in Patterson-UTI Energy by 14.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 21,211,576 shares of the oil and gas company’s stock worth $229,732,000 after acquiring an additional 2,745,872 shares during the period. State Street Corp grew its stake in Patterson-UTI Energy by 0.5% during the 4th quarter. State Street Corp now owns 15,265,086 shares of the oil and gas company’s stock valued at $93,270,000 after acquiring an additional 75,560 shares in the last quarter. Sourcerock Group LLC increased its holdings in shares of Patterson-UTI Energy by 109.2% in the 2nd quarter. Sourcerock Group LLC now owns 13,803,775 shares of the oil and gas company’s stock valued at $81,856,000 after purchasing an additional 7,205,652 shares during the period. Finally, Goldman Sachs Group Inc. lifted its position in Patterson-UTI Energy by 110.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 10,559,219 shares of the oil and gas company’s stock worth $64,517,000 after buying an additional 5,551,276 shares in the last quarter. 97.91% of the stock is owned by institutional investors and hedge funds.

Patterson-UTI Energy Stock Down 0.4%

NASDAQ PTEN opened at $12.85 on Tuesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.75 and a quick ratio of 1.57. The company’s 50 day simple moving average is $10.97 and its 200 day simple moving average is $10.77. Patterson-UTI Energy has a 12 month low of $5.10 and a 12 month high of $13.39. The company has a market capitalization of $4.90 billion, a P/E ratio of -55.87 and a beta of 0.66.

Patterson-UTI Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $0.40 dividend on an annualized basis and a yield of 3.1%. Patterson-UTI Energy’s dividend payout ratio is currently -173.91%.

Patterson-UTI Energy Company Profile

Patterson-UTI Energy, Inc (NASDAQ: PTEN) is an energy-services company that provides drilling, completion, and production-related services to oil and natural gas operators. Its operations support the development of unconventional and other onshore energy resources, primarily in North America.

The company’s offerings include contract land drilling, pressure pumping, well completion services, directional drilling, downhole tools, and related drilling technologies. Patterson-UTI also provides equipment, technical services, and other solutions used throughout the well-construction and completion process.

Patterson-UTI traces its history to the late 1970s and expanded its service platform through acquisitions and strategic combinations.