Patterson-UTI Energy, Inc. (NASDAQ:PTEN) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Patterson-UTI Energy, Inc. (NASDAQ:PTEN) have been assigned a consensus recommendation of “Hold” from the fifteen research firms that are currently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and nine have assigned a buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $12.15.

A number of equities research analysts have recently issued reports on the company. Citigroup dropped their price objective on Patterson-UTI Energy from $11.00 to $10.50 and set a “neutral” rating on the stock in a research note on Monday, June 29th. Piper Sandler raised shares of Patterson-UTI Energy from a “neutral” rating to an “overweight” rating and set a $13.00 price target on the stock in a research report on Tuesday, July 14th. Barclays upgraded shares of Patterson-UTI Energy from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $10.00 to $15.00 in a research note on Thursday, May 7th. Susquehanna decreased their price objective on shares of Patterson-UTI Energy from $14.00 to $12.00 and set a “positive” rating for the company in a research report on Wednesday, July 8th. Finally, Capital One Financial upgraded shares of Patterson-UTI Energy from an “equal weight” rating to an “overweight” rating and set a $12.00 price objective on the stock in a research note on Monday, April 20th.

Patterson-UTI Energy Stock Performance

Shares of NASDAQ PTEN opened at $10.20 on Monday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.63 and a current ratio of 1.84. The stock has a 50 day moving average price of $10.61 and a 200 day moving average price of $9.84. The stock has a market capitalization of $3.87 billion, a PE ratio of -32.90 and a beta of 0.62. Patterson-UTI Energy has a 52 week low of $5.10 and a 52 week high of $13.08.

More Patterson-UTI Energy News

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

• Positive Sentiment: Zacks Research raised several longer-term earnings forecasts for Patterson-UTI Energy, including FY2027, FY2028, and multiple 2027–2028 quarterly estimates, suggesting improving profitability expectations over time. PTEN analyst estimate updates
• Positive Sentiment: Analysts also lifted near-term estimates for Q3 2026, Q4 2026, Q1 2027, Q2 2027, Q3 2027 and Q4 2027, which may signal that cost controls and operating leverage are expected to help earnings recover. PTEN estimate revisions
• Neutral Sentiment: The company is set to report Q2 results on July 29, and current expectations call for a narrower loss as lower operating costs offset weaker revenue. PTEN earnings preview
• Negative Sentiment: Despite the estimate increases, Zacks still keeps a Hold rating, and near-term forecasts remain negative for FY2026 and the current full year, which may be limiting investor enthusiasm. PTEN hold rating and forecasts

Insider Buying and Selling at Patterson-UTI Energy

In other Patterson-UTI Energy news, Director Robert Wayne Drummond, Jr. sold 322,699 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $12.04, for a total transaction of $3,885,295.96. Following the transaction, the director owned 1,190,248 shares of the company’s stock, valued at $14,330,585.92. The trade was a 21.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William Andrew Hendricks, Jr. sold 250,000 shares of the company’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $11.85, for a total value of $2,962,500.00. Following the completion of the sale, the chief executive officer owned 2,823,103 shares in the company, valued at $33,453,770.55. This represents a 8.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,007,844 shares of company stock valued at $11,922,302 in the last three months. Corporate insiders own 2.20% of the company’s stock.

Institutional Trading of Patterson-UTI Energy

Several hedge funds and other institutional investors have recently modified their holdings of PTEN. Dimensional Fund Advisors LP grew its stake in Patterson-UTI Energy by 14.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 21,211,576 shares of the oil and gas company’s stock valued at $229,732,000 after buying an additional 2,745,872 shares during the last quarter. State Street Corp lifted its position in Patterson-UTI Energy by 0.5% during the fourth quarter. State Street Corp now owns 15,265,086 shares of the oil and gas company’s stock worth $93,270,000 after acquiring an additional 75,560 shares during the last quarter. Sourcerock Group LLC boosted its holdings in shares of Patterson-UTI Energy by 109.2% during the second quarter. Sourcerock Group LLC now owns 13,803,775 shares of the oil and gas company’s stock worth $81,856,000 after acquiring an additional 7,205,652 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Patterson-UTI Energy by 110.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 10,559,219 shares of the oil and gas company’s stock worth $64,517,000 after acquiring an additional 5,551,276 shares during the period. Finally, Principal Financial Group Inc. grew its position in shares of Patterson-UTI Energy by 11.0% in the first quarter. Principal Financial Group Inc. now owns 9,450,347 shares of the oil and gas company’s stock valued at $102,347,000 after purchasing an additional 934,766 shares during the last quarter. Institutional investors own 97.91% of the company’s stock.

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.