Zacks Research Issues Positive Outlook for PTEN Earnings

Patterson-UTI Energy, Inc. (NASDAQ:PTEN) – Analysts at Zacks Research raised their Q2 2026 earnings per share estimates for shares of Patterson-UTI Energy in a research note issued to investors on Friday, June 26th. Zacks Research analyst Team now expects that the oil and gas company will post earnings per share of ($0.06) for the quarter, up from their prior forecast of ($0.07). Zacks Research currently has a “Hold” rating on the stock. The consensus estimate for Patterson-UTI Energy’s current full-year earnings is ($0.14) per share. Zacks Research also issued estimates for Patterson-UTI Energy’s Q3 2026 earnings at ($0.04) EPS, Q4 2026 earnings at ($0.06) EPS, FY2026 earnings at ($0.22) EPS, Q1 2027 earnings at ($0.09) EPS, Q2 2027 earnings at ($0.02) EPS, Q3 2027 earnings at ($0.03) EPS and FY2027 earnings at ($0.12) EPS.

Several other brokerages also recently commented on PTEN. Citigroup reduced their price target on shares of Patterson-UTI Energy from $11.00 to $10.50 and set a “neutral” rating for the company in a research report on Monday. Barclays raised Patterson-UTI Energy from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $10.00 to $15.00 in a research report on Thursday, May 7th. KeyCorp upgraded Patterson-UTI Energy to an “overweight” rating in a report on Wednesday, May 27th. Weiss Ratings reissued a “sell (d+)” rating on shares of Patterson-UTI Energy in a research report on Tuesday, May 26th. Finally, The Goldman Sachs Group increased their price objective on Patterson-UTI Energy from $11.00 to $13.00 and gave the stock a “buy” rating in a research note on Thursday, June 4th. Eight investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $12.35.

Patterson-UTI Energy Stock Performance

Patterson-UTI Energy stock opened at $9.55 on Tuesday. The firm’s 50 day simple moving average is $11.33 and its 200-day simple moving average is $9.37. The company has a market cap of $3.63 billion, a P/E ratio of -30.81 and a beta of 0.61. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.84 and a quick ratio of 1.63. Patterson-UTI Energy has a fifty-two week low of $5.10 and a fifty-two week high of $13.08.

Patterson-UTI Energy (NASDAQ:PTEN) last posted its quarterly earnings data on Wednesday, April 22nd. The oil and gas company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.04. Patterson-UTI Energy had a negative return on equity of 2.32% and a negative net margin of 2.56%.The firm had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.11 billion. The company’s revenue was down 12.7% on a year-over-year basis.

Patterson-UTI Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $0.40 dividend on an annualized basis and a yield of 4.2%. Patterson-UTI Energy’s payout ratio is currently -129.03%.

Insider Activity at Patterson-UTI Energy

In other news, Director Robert Wayne Drummond, Jr. sold 61,475 shares of the business’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $12.02, for a total transaction of $738,929.50. Following the transaction, the director owned 1,128,773 shares in the company, valued at approximately $13,567,851.46. The trade was a 5.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO William Andrew Hendricks, Jr. sold 200,000 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $11.64, for a total value 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 approximately $29,594,397.36. This trade represents a 7.29% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 1,007,844 shares of company stock valued at $11,922,302. 2.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Patterson-UTI Energy

Hedge funds have recently modified their holdings of the stock. Citigroup Inc. increased its holdings in Patterson-UTI Energy by 10.3% in the third quarter. Citigroup Inc. now owns 1,489,694 shares of the oil and gas company’s stock valued at $7,717,000 after purchasing an additional 139,561 shares during the last quarter. Magnetar Financial LLC boosted its holdings in Patterson-UTI Energy by 728.4% during the third quarter. Magnetar Financial LLC now owns 280,919 shares of the oil and gas company’s stock worth $1,455,000 after buying an additional 247,010 shares during the last quarter. SG Americas Securities LLC grew its position in shares of Patterson-UTI Energy by 141.3% during the 4th quarter. SG Americas Securities LLC now owns 183,804 shares of the oil and gas company’s stock worth $1,123,000 after buying an additional 107,638 shares during the period. Tudor Investment Corp ET AL bought a new stake in shares of Patterson-UTI Energy in the 3rd quarter valued at about $2,206,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Patterson-UTI Energy in the 3rd quarter valued at approximately $992,000. 97.91% of the stock is owned by institutional investors and hedge funds.

Trending Headlines about Patterson-UTI Energy

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

• Positive Sentiment: Zacks Research lifted earnings estimates for Patterson-UTI Energy across multiple periods, including FY2026, FY2027, Q2 2026, Q3 2026, Q4 2026, Q1 2027, Q2 2027, and Q3 2027, suggesting analysts see slightly better profit trends ahead. PTEN estimates update
• Neutral Sentiment: Zacks Research kept a Hold rating on Patterson-UTI Energy, indicating its improved estimates were not enough to turn the firm more bullish. PTEN rating update
• Negative Sentiment: Citigroup lowered its price target on Patterson-UTI Energy to $10.50 from $11.00 and kept a neutral stance, signaling more limited upside than before. Citigroup target cut
• Neutral Sentiment: An article titled “Is Patterson-UTI Energy, Inc. (PTEN) A Good Stock To Buy Now?” also circulated, but it appears to be more of a general commentary piece than a direct company-specific catalyst. Yahoo Finance article

About Patterson-UTI Energy

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.