Q4 EPS Estimates for PTEN Decreased by Capital One Financial

Patterson-UTI Energy, Inc. (NASDAQ:PTEN) – Stock analysts at Capital One Financial dropped their Q4 2024 earnings estimates for shares of Patterson-UTI Energy in a research note issued on Wednesday, November 20th. Capital One Financial analyst D. Becker now expects that the oil and gas company will post earnings of ($0.10) per share for the quarter, down from their prior forecast of ($0.04). The consensus estimate for Patterson-UTI Energy’s current full-year earnings is $0.12 per share. Capital One Financial also issued estimates for Patterson-UTI Energy’s Q1 2025 earnings at ($0.08) EPS, Q2 2025 earnings at ($0.04) EPS, Q3 2025 earnings at ($0.03) EPS, Q4 2025 earnings at ($0.06) EPS and FY2025 earnings at ($0.20) EPS.

PTEN has been the topic of a number of other reports. Royal Bank of Canada lowered their price target on shares of Patterson-UTI Energy from $12.00 to $11.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Susquehanna reduced their price target on shares of Patterson-UTI Energy from $13.00 to $10.00 and set a “positive” rating for the company in a research report on Friday, October 11th. ATB Capital lowered their price objective on Patterson-UTI Energy from $12.00 to $11.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 4th. Citigroup reduced their target price on Patterson-UTI Energy from $11.00 to $10.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Finally, Morgan Stanley lowered their price target on Patterson-UTI Energy from $12.00 to $10.00 and set an “equal weight” rating on the stock in a report on Monday, September 16th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $11.88.

Patterson-UTI Energy Stock Performance

NASDAQ:PTEN opened at $8.68 on Friday. Patterson-UTI Energy has a 52-week low of $7.38 and a 52-week high of $12.65. The business’s fifty day moving average is $8.11 and its 200 day moving average is $9.29. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.32 and a current ratio of 1.52. The firm has a market cap of $3.38 billion, a price-to-earnings ratio of -3.96 and a beta of 2.12.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. InTrack Investment Management Inc boosted its position in shares of Patterson-UTI Energy by 3.2% during the second quarter. InTrack Investment Management Inc now owns 32,950 shares of the oil and gas company’s stock valued at $341,000 after purchasing an additional 1,037 shares in the last quarter. Hexagon Capital Partners LLC lifted its position in Patterson-UTI Energy by 119.5% during the 2nd quarter. Hexagon Capital Partners LLC now owns 2,401 shares of the oil and gas company’s stock valued at $25,000 after acquiring an additional 1,307 shares during the period. CIBC Asset Management Inc grew its holdings in Patterson-UTI Energy by 7.2% in the third quarter. CIBC Asset Management Inc now owns 22,336 shares of the oil and gas company’s stock worth $171,000 after purchasing an additional 1,501 shares during the period. KBC Group NV increased its stake in shares of Patterson-UTI Energy by 18.5% during the third quarter. KBC Group NV now owns 11,044 shares of the oil and gas company’s stock valued at $84,000 after purchasing an additional 1,723 shares in the last quarter. Finally, Sage Rhino Capital LLC lifted its holdings in shares of Patterson-UTI Energy by 15.8% during the second quarter. Sage Rhino Capital LLC now owns 12,623 shares of the oil and gas company’s stock valued at $131,000 after purchasing an additional 1,724 shares during the last quarter. 97.91% of the stock is owned by hedge funds and other institutional investors.

Patterson-UTI Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.32 dividend on an annualized basis and a dividend yield of 3.69%. Patterson-UTI Energy’s dividend payout ratio is presently -14.61%.

About Patterson-UTI Energy

Patterson-UTI Energy, Inc, through its subsidiaries, engages in the provision of contract drilling services to oil and natural gas operators in the United States and internationally. It operates through three segments: Drilling Services, Completion Services, and Drilling Products. The Contract Drilling Services segment provides contract and directional drilling services in onshore oil and natural gas basins, as well as engages in the service and re-certification of equipment for drilling contractors, and provision of electrical controls and automation to the energy, marine and mining industries.