Zacks Research Issues Optimistic Estimate for PTEN Earnings

Patterson-UTI Energy, Inc. (NASDAQ:PTEN) – Zacks Research raised their Q2 2026 earnings per share estimates for shares of Patterson-UTI Energy in a note issued to investors on Wednesday, February 19th. Zacks Research analyst N. Choudhury now forecasts that the oil and gas company will earn $0.04 per share for the quarter, up from their previous estimate of $0.02. The consensus estimate for Patterson-UTI Energy’s current full-year earnings is ($0.10) per share. Zacks Research also issued estimates for Patterson-UTI Energy’s Q3 2026 earnings at $0.06 EPS, Q4 2026 earnings at $0.05 EPS and FY2027 earnings at $0.58 EPS.

Other equities analysts also recently issued research reports about the company. Royal Bank of Canada cut 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 Friday, October 25th. The Goldman Sachs Group raised Patterson-UTI Energy from a “neutral” rating to a “buy” rating and cut their price objective for the company from $11.00 to $10.00 in a research report on Friday, December 13th. Raymond James downgraded Patterson-UTI Energy from a “strong-buy” rating to a “market perform” rating in a research report on Monday, January 6th. Stifel Nicolaus dropped their price target on Patterson-UTI Energy from $14.00 to $13.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Finally, Citigroup dropped their price target on Patterson-UTI Energy from $11.00 to $10.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. One analyst has rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.63.

Patterson-UTI Energy Stock Performance

Shares of Patterson-UTI Energy stock opened at $8.34 on Friday. The stock’s fifty day moving average is $8.46 and its two-hundred day moving average is $8.36. The company has a market capitalization of $3.22 billion, a PE ratio of -3.38 and a beta of 2.06. The company has a quick ratio of 1.34, a current ratio of 1.54 and a debt-to-equity ratio of 0.35. Patterson-UTI Energy has a 52 week low of $7.15 and a 52 week high of $12.65.

Hedge Funds Weigh In On Patterson-UTI Energy

A number of institutional investors have recently added to or reduced their stakes in the stock. Atria Investments Inc lifted its position in Patterson-UTI Energy by 3.7% during the fourth quarter. Atria Investments Inc now owns 34,831 shares of the oil and gas company’s stock worth $288,000 after buying an additional 1,252 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its position in Patterson-UTI Energy by 31.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 5,678 shares of the oil and gas company’s stock worth $47,000 after buying an additional 1,358 shares in the last quarter. Avantax Advisory Services Inc. lifted its position in Patterson-UTI Energy by 10.1% during the fourth quarter. Avantax Advisory Services Inc. now owns 15,698 shares of the oil and gas company’s stock worth $130,000 after buying an additional 1,436 shares in the last quarter. CIBC Asset Management Inc lifted its position in Patterson-UTI Energy by 7.2% during the third quarter. CIBC Asset Management Inc now owns 22,336 shares of the oil and gas company’s stock worth $171,000 after buying an additional 1,501 shares in the last quarter. Finally, Summit Investment Advisors Inc. lifted its position in Patterson-UTI Energy by 4.1% during the fourth quarter. Summit Investment Advisors Inc. now owns 40,711 shares of the oil and gas company’s stock worth $336,000 after buying an additional 1,596 shares in the last quarter. Hedge funds and other institutional investors own 97.91% of the company’s stock.

Insider Buying and Selling at Patterson-UTI Energy

In other news, Director Robert Wayne Drummond, Jr. sold 230,000 shares of Patterson-UTI Energy stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $8.89, for a total value of $2,044,700.00. Following the sale, the director now directly owns 1,549,081 shares of the company’s stock, valued at $13,771,330.09. The trade was a 12.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director James Carl Stewart sold 80,000 shares of Patterson-UTI Energy stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $7.36, for a total value of $588,800.00. Following the completion of the sale, the director now directly owns 32,438 shares in the company, valued at $238,743.68. This represents a 71.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.30% of the stock is owned by corporate insiders.

Patterson-UTI Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 3.84%. The ex-dividend date is Monday, March 3rd. Patterson-UTI Energy’s payout ratio is currently -12.96%.

Patterson-UTI Energy Company Profile

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.