FY2026 Earnings Forecast for PTEN Issued By Zacks Research

Key Points

• Zacks Research raised Patterson-UTI Energy’s FY2026 EPS forecast to a loss of $0.03 per share from a prior estimate of $0.05, though it maintained a “Hold” rating. Analysts expect profitability to improve in 2027 and 2028.
• Analyst sentiment is generally positive, with PTEN receiving a “Moderate Buy” consensus rating and an average price target of $13.25. The stock recently opened at $12.85, near its 52-week high of $13.39.
• Institutional investors own 97.91% of the company, while insiders sold 777,000 shares worth about $9.7 million over the past three months. Patterson-UTI also declared a quarterly dividend of $0.10, representing a 3.1% annualized yield.

Patterson-UTI Energy, Inc. (NASDAQ:PTEN - Free Report) - Analysts at Zacks Research increased their FY2026 earnings per share (EPS) estimates for shares of Patterson-UTI Energy in a research report issued on Thursday, September 10th. Zacks Research analyst Team now anticipates that the oil and gas company will post earnings per share of ($0.03) for the year, up from their prior estimate of ($0.05). Zacks Research currently has a "Hold" rating on the stock. The consensus estimate for Patterson-UTI Energy's current full-year earnings is ($0.01) per share. Zacks Research also issued estimates for Patterson-UTI Energy's Q1 2027 earnings at ($0.04) EPS and Q4 2027 earnings at $0.05 EPS.

Other equities analysts also recently issued research reports about the company. The Goldman Sachs Group increased 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. Piper Sandler reaffirmed an "overweight" rating on shares of Patterson-UTI Energy in a research report on Friday, August 21st. Citigroup increased their price target on shares of Patterson-UTI Energy from $10.50 to $13.50 and gave the stock a "neutral" rating in a research note on Friday, September 4th. Royal Bank Of Canada lifted their price target on shares of Patterson-UTI Energy from $14.00 to $15.00 and gave the company an "outperform" rating in a research report on Friday, May 29th. Finally, Stifel Nicolaus boosted their price objective on shares of Patterson-UTI Energy from $14.00 to $15.00 and gave the stock a "buy" rating in a research note on Tuesday, June 16th. Nine equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Patterson-UTI Energy presently has an average rating of "Moderate Buy" and a consensus price target of $13.25.

Patterson-UTI Energy Stock Performance

PTEN opened at $12.85 on Monday. The company has a quick ratio of 1.57, a current ratio of 1.75 and a debt-to-equity ratio of 0.40. Patterson-UTI Energy has a 52 week low of $5.10 and a 52 week high of $13.39. The stock has a market cap of $4.90 billion, a PE ratio of -55.87 and a beta of 0.66. The business has a 50 day moving average of $10.97 and a 200-day moving average of $10.79.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in shares of Patterson-UTI Energy during the second quarter valued at approximately $577,234,000. Dimensional Fund Advisors LP lifted its position 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 acquiring an additional 2,745,872 shares in the last quarter. State Street Corp lifted its position in Patterson-UTI Energy by 0.5% in the 4th quarter. State Street Corp now owns 15,265,086 shares of the oil and gas company's stock valued at $93,270,000 after acquiring an additional 75,560 shares in the last quarter. Sourcerock Group LLC boosted its stake in Patterson-UTI Energy by 109.2% during the 2nd quarter. Sourcerock Group LLC now owns 13,803,775 shares of the oil and gas company's stock valued at $81,856,000 after purchasing an additional 7,205,652 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in Patterson-UTI Energy by 110.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 10,559,219 shares of the oil and gas company's stock valued at $64,517,000 after purchasing an additional 5,551,276 shares during the last quarter. 97.91% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director James Stewart sold 207,000 shares of the firm's stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $11.54, for a total transaction of $2,388,780.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert Drummond Jr. sold 198,395 shares of Patterson-UTI Energy stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $12.85, for a total value of $2,549,375.75. Following the completion of the transaction, the director directly owned 928,773 shares of the company's stock, valued at approximately $11,934,733.05. This represents a 17.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 777,000 shares of company stock valued at $9,721,280. Insiders own 2.20% of the company's stock.

Patterson-UTI Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend is Tuesday, September 1st. Patterson-UTI Energy's dividend payout ratio is currently -173.91%.

More Patterson-UTI Energy News

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

• Positive Sentiment: Zacks raised its FY2027 EPS forecast to $0.08 from $0.04 and its FY2028 forecast to $0.41 from $0.38. The firm also lifted estimates for Q2 2027, Q3 2027, Q1 2028 and Q2 2028, suggesting expectations for improving profitability over the next several years. MarketBeat Patterson-UTI Energy estimates
• Positive Sentiment: Zacks increased its Q4 2026 estimate from a loss of $0.01 per share to breakeven, while projecting $0.04 EPS in Q2 2027 and $0.03 EPS in Q3 2027. These revisions improve the expected earnings trajectory, although the current full-year consensus remains a loss of $0.02 per share. MarketBeat Patterson-UTI Energy estimates
• Neutral Sentiment: Patterson-UTI averaged 101 revenue-earning U.S. drilling rigs in August and 100 rigs during the two months ended August 31. The activity level indicates continued utilization, but the update provided no day rates, contract durations, fleet-class utilization or margins, leaving the financial impact uncertain. Patterson-UTI averaged 101 August rigs
• Neutral Sentiment: Reported September short-interest data showed zero shares and a zero-day short-interest ratio, unchanged from the prior period. Because the figures appear incomplete or erroneous, they provide no meaningful signal about potential short-covering or selling pressure.

Patterson-UTI Energy Company Profile

Patterson-UTI Energy, Inc NASDAQ: PTEN is an energy-services company that provides drilling, completion, and production-related services to oil and natural gas operators. Its operations support the development of unconventional and other onshore energy resources, primarily in North America.

The company's offerings include contract land drilling, pressure pumping, well completion services, directional drilling, downhole tools, and related drilling technologies. Patterson-UTI also provides equipment, technical services, and other solutions used throughout the well-construction and completion process.

Patterson-UTI traces its history to the late 1970s and expanded its service platform through acquisitions and strategic combinations.

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