Atb Cap Markets Has Negative Outlook for PTEN Q2 Earnings

Patterson-UTI Energy, Inc. (NASDAQ:PTEN - Free Report) - Research analysts at Atb Cap Markets lowered their Q2 2026 earnings estimates for Patterson-UTI Energy in a report released on Monday, April 28th. Atb Cap Markets analyst W. Syed now anticipates that the oil and gas company will post earnings of $0.01 per share for the quarter, down from their previous forecast of $0.05. The consensus estimate for Patterson-UTI Energy's current full-year earnings is ($0.10) per share. Atb Cap Markets also issued estimates for Patterson-UTI Energy's Q3 2026 earnings at $0.03 EPS, Q4 2026 earnings at $0.00 EPS and Q1 2027 earnings at $0.02 EPS.

Patterson-UTI Energy (NASDAQ:PTEN - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The oil and gas company reported $0.00 earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.04. The company had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.18 billion. Patterson-UTI Energy had a positive return on equity of 0.81% and a negative net margin of 18.00%. The firm's quarterly revenue was down 15.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.15 EPS.

Several other analysts also recently commented on PTEN. Morgan Stanley cut their price objective on shares of Patterson-UTI Energy from $10.00 to $9.00 and set an "equal weight" rating on the stock in a research report on Thursday, March 27th. Raymond James cut shares of Patterson-UTI Energy from a "strong-buy" rating to a "market perform" rating in a report on Monday, January 6th. Barclays decreased their price objective on shares of Patterson-UTI Energy from $11.00 to $8.00 and set an "overweight" rating for the company in a report on Monday. Stifel Nicolaus cut their target price on Patterson-UTI Energy from $13.00 to $12.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. Finally, The Goldman Sachs Group reduced their target price on Patterson-UTI Energy from $11.00 to $8.00 and set a "neutral" rating for the company in a report on Thursday, April 10th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $10.88.

Patterson-UTI Energy Stock Up 2.9 %

Shares of NASDAQ PTEN traded up $0.17 during trading on Wednesday, reaching $6.03. The company had a trading volume of 11,458,596 shares, compared to its average volume of 9,073,869. The business's 50-day moving average is $7.01 and its 200 day moving average is $7.84. The company has a quick ratio of 1.34, a current ratio of 1.54 and a debt-to-equity ratio of 0.35. The stock has a market cap of $2.33 billion, a PE ratio of -2.44 and a beta of 1.33. Patterson-UTI Energy has a 12-month low of $5.12 and a 12-month high of $11.70.

Patterson-UTI Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be given a $0.08 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.32 annualized dividend and a yield of 5.31%. Patterson-UTI Energy's payout ratio is -12.31%.

Insider Buying and Selling at Patterson-UTI Energy

In related news, Director Robert Wayne Drummond, Jr. sold 230,000 shares of Patterson-UTI Energy stock in a transaction on Friday, February 14th. The stock was sold at an average price of $8.89, for a total transaction of $2,044,700.00. Following the transaction, the director now directly owns 1,549,081 shares in the company, valued at approximately $13,771,330.09. The trade was a 12.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William Andrew Hendricks, Jr. purchased 25,000 shares of Patterson-UTI Energy stock in a transaction on Wednesday, March 12th. The stock was bought at an average price of $7.88 per share, with a total value of $197,000.00. Following the transaction, the chief executive officer now owns 2,482,592 shares of the company's stock, valued at approximately $19,562,824.96. This represents a 1.02 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 2.40% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Victory Capital Management Inc. lifted its holdings in Patterson-UTI Energy by 30.2% during the fourth quarter. Victory Capital Management Inc. now owns 1,146,750 shares of the oil and gas company's stock valued at $9,472,000 after purchasing an additional 265,714 shares in the last quarter. Versor Investments LP lifted its stake in shares of Patterson-UTI Energy by 53.0% during the 4th quarter. Versor Investments LP now owns 175,900 shares of the oil and gas company's stock valued at $1,453,000 after buying an additional 60,900 shares in the last quarter. Ieq Capital LLC boosted its holdings in Patterson-UTI Energy by 262.6% in the 4th quarter. Ieq Capital LLC now owns 43,618 shares of the oil and gas company's stock worth $360,000 after buying an additional 31,589 shares during the period. Schroder Investment Management Group purchased a new stake in Patterson-UTI Energy in the 4th quarter worth $511,000. Finally, Van ECK Associates Corp raised its holdings in Patterson-UTI Energy by 31.2% during the fourth quarter. Van ECK Associates Corp now owns 7,321,667 shares of the oil and gas company's stock valued at $60,477,000 after acquiring an additional 1,743,241 shares during the period. 97.91% of the stock is currently owned by institutional investors.

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.