Zacks Research Issues Optimistic Estimate for PTEN Earnings

Patterson-UTI Energy, Inc. (NASDAQ:PTEN) – Equities research analysts at Zacks Research upped their FY2026 earnings per share (EPS) estimates for Patterson-UTI Energy in a research note issued on Thursday, September 10th. Zacks Research analyst Team now expects that the oil and gas company will earn ($0.03) per share for the year, up from their previous estimate of ($0.05). Zacks Research currently has a “Hold” rating on the stock. The consensus estimate for Patterson-UTI Energy’s current full-year earnings is ($0.01) per share. Zacks Research also issued estimates for Patterson-UTI Energy’s Q1 2027 earnings at ($0.04) EPS and Q4 2027 earnings at $0.05 EPS.

Other research analysts have also recently issued reports about the stock. Weiss Ratings restated a “sell (d+)” rating on shares of Patterson-UTI Energy in a report on Friday, August 21st. The Goldman Sachs Group lifted their price objective on shares of Patterson-UTI Energy from $11.00 to $13.00 and gave the company a “buy” rating in a report on Thursday, June 4th. KeyCorp upgraded shares of Patterson-UTI Energy to an “overweight” rating in a research note on Wednesday, May 27th. Barclays upped their target price on shares of Patterson-UTI Energy from $15.00 to $16.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 5th. Finally, JPMorgan Chase & Co. raised shares of Patterson-UTI Energy from an “underweight” rating to a “neutral” rating and set a $12.00 price target for the company in a research note on Friday, July 31st. Nine investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $13.25.

Patterson-UTI Energy Stock Performance

PTEN stock opened at $12.71 on Monday. The company has a quick ratio of 1.57, a current ratio of 1.75 and a debt-to-equity ratio of 0.40. The business’s fifty day simple moving average is $11.12 and its two-hundred day simple moving average is $10.85. Patterson-UTI Energy has a twelve month low of $5.10 and a twelve month high of $13.39. The firm has a market cap of $4.85 billion, a price-to-earnings ratio of -55.26 and a beta of 0.66.

Institutional Investors Weigh In On Patterson-UTI Energy

A number of hedge funds have recently made changes to their positions in the stock. Sequoia Financial Advisors LLC grew its stake in Patterson-UTI Energy by 107.2% in the second quarter. Sequoia Financial Advisors LLC now owns 22,147 shares of the oil and gas company’s stock valued at $203,000 after purchasing an additional 11,458 shares during the last quarter. Tidal Investments LLC boosted its holdings in shares of Patterson-UTI Energy by 11.5% in the 2nd quarter. Tidal Investments LLC now owns 166,271 shares of the oil and gas company’s stock valued at $1,526,000 after buying an additional 17,189 shares in the last quarter. Engineers Gate Manager LP grew its position in shares of Patterson-UTI Energy by 1,002.2% in the 2nd quarter. Engineers Gate Manager LP now owns 461,819 shares of the oil and gas company’s stock worth $4,239,000 after buying an additional 419,919 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new position in shares of Patterson-UTI Energy in the 2nd quarter worth approximately $96,000. Finally, Allworth Financial LP grew its position in shares of Patterson-UTI Energy by 172.4% in the 2nd quarter. Allworth Financial LP now owns 7,417 shares of the oil and gas company’s stock worth $68,000 after buying an additional 4,694 shares during the last quarter. 97.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Patterson-UTI Energy

In other Patterson-UTI Energy news, Director Robert Wayne Drummond, Jr. sold 198,395 shares of the company’s stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $12.85, for a total transaction of $2,549,375.75. Following the completion of the sale, the director owned 928,773 shares in the company, valued at $11,934,733.05. This represents a 17.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Seth Wexler sold 120,000 shares of Patterson-UTI Energy stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $12.75, for a total value of $1,530,000.00. Following the completion of the transaction, the executive vice president owned 404,582 shares in the company, valued at $5,158,420.50. This represents a 22.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 777,000 shares of company stock valued at $9,721,280. 2.20% of the stock is owned by corporate insiders.

Patterson-UTI Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend was Tuesday, September 1st. Patterson-UTI Energy’s dividend payout ratio (DPR) is presently -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.