Research Analysts Set Expectations for PTEN Q3 Earnings

Patterson-UTI Energy, Inc. (NASDAQ:PTEN) – Zacks Research issued their Q3 2026 earnings per share estimates for shares of Patterson-UTI Energy in a report issued on Wednesday, August 12th. Zacks Research analyst Team forecasts that the oil and gas company will post earnings of $0.02 per share for the quarter. Zacks Research has a “Strong-Buy” rating on the stock. The consensus estimate for Patterson-UTI Energy’s current full-year earnings is ($0.04) per share. Zacks Research also issued estimates for Patterson-UTI Energy’s FY2026 earnings at ($0.05) EPS, Q1 2027 earnings at ($0.05) EPS, Q3 2027 earnings at $0.02 EPS, Q4 2027 earnings at $0.04 EPS and FY2028 earnings at $0.38 EPS.

A number of other research analysts have also weighed in on the company. The Goldman Sachs Group upped their price objective on Patterson-UTI Energy from $11.00 to $13.00 and gave the stock a “buy” rating in a report on Thursday, June 4th. Stifel Nicolaus lifted their price objective on Patterson-UTI Energy from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Tuesday, June 16th. JPMorgan Chase & Co. raised shares of Patterson-UTI Energy from an “underweight” rating to a “neutral” rating and set a $12.00 price target on the stock in a research note on Friday, July 31st. Citigroup cut their price target on Patterson-UTI Energy from $11.00 to $10.50 and set a “neutral” rating for the company in a report on Monday, June 29th. Finally, KeyCorp upgraded shares of Patterson-UTI Energy to an “overweight” rating in a report on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.95.

Patterson-UTI Energy Price Performance

Shares of NASDAQ PTEN opened at $10.90 on Friday. The company has a market cap of $4.16 billion, a PE ratio of -47.39 and a beta of 0.63. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.75 and a quick ratio of 1.57. Patterson-UTI Energy has a 1-year low of $5.10 and a 1-year high of $13.08. The stock has a fifty day moving average price of $10.09 and a 200 day moving average price of $10.15.

Patterson-UTI Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend is Tuesday, September 1st. Patterson-UTI Energy’s payout ratio is currently -173.91%.

Insider Buying and Selling

In related news, CAO Forrest C. Robinson sold 13,670 shares of the business’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $12.01, for a total transaction of $164,176.70. Following the completion of the transaction, the chief accounting officer owned 56,842 shares in the company, valued at $682,672.42. The trade was a 19.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO James Michael Holcomb sold 150,000 shares of the business’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $11.47, for a total transaction of $1,720,500.00. Following the transaction, the chief operating officer directly owned 421,523 shares of the company’s stock, valued at approximately $4,834,868.81. This trade represents a 26.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 363,670 shares of company stock worth $4,212,677 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 made changes to their positions in PTEN. Quarry LP boosted its stake in Patterson-UTI Energy by 360.3% during the 3rd quarter. Quarry LP now owns 4,934 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 3,862 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Patterson-UTI Energy in the second quarter worth approximately $32,000. First Horizon Corp raised its stake in Patterson-UTI Energy by 58.5% during the 4th quarter. First Horizon Corp now owns 5,554 shares of the oil and gas company’s stock valued at $34,000 after purchasing an additional 2,049 shares during the period. Rockefeller Capital Management L.P. raised its position in Patterson-UTI Energy by 187.6% during the fourth quarter. Rockefeller Capital Management L.P. now owns 6,591 shares of the oil and gas company’s stock valued at $40,000 after buying an additional 4,299 shares during the period. Finally, Torren Management LLC acquired a new stake in shares of Patterson-UTI Energy during the fourth quarter worth approximately $44,000. 97.91% of the stock is owned by institutional investors and hedge funds.

Patterson-UTI Energy News Summary

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

• Positive Sentiment: Zacks raised its FY2026 EPS forecast to a loss of $0.05 from a loss of $0.10, while increasing its FY2027 estimate to $0.04 from $0.02 and FY2028 to $0.38 from $0.27. These upgrades indicate analysts expect a stronger earnings recovery over time. Patterson-UTI Energy analyst estimates
• Positive Sentiment: Quarterly estimates also improved: Q1 2027 EPS was raised to a loss of $0.05 from a loss of $0.06, Q3 2027 increased to $0.02 from $0.01, Q2 2027 rose to $0.03 from $0.02, and Q2 2028 advanced to $0.09 from $0.05. Patterson-UTI Energy quarterly earnings estimates
• Neutral Sentiment: Analyst coverage gives PTEN a consensus “Moderate Buy” recommendation, while Zacks specifically rates the shares “Strong-Buy.” The overall sentiment is supportive, but the current full-year consensus still calls for a $0.04-per-share loss. Patterson-UTI Energy consensus recommendation
• Negative Sentiment: Zacks trimmed its Q4 2027 EPS forecast to $0.04 from $0.05. In addition, Zacks expects a $0.05-per-share loss for FY2026 and a $0.05 loss in Q1 2027, underscoring continued near-term earnings pressure despite the longer-term upgrades. Patterson-UTI Energy revised earnings estimates

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.