Q1 EPS Estimate for Patterson-UTI Energy Lifted by Analyst

Key Points

• Zacks Research raised its Q1 2027 EPS estimate for Patterson-UTI Energy to a loss of $0.02 per share from a prior estimate of $0.04, while maintaining a “Hold” rating.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating from 16 analysts and an average price target of $13.14, compared with the stock’s $11.41 opening price.
• Patterson-UTI pays a quarterly dividend of $0.10 per share, representing a 3.5% yield, while insiders sold more than 1 million shares worth approximately $12.7 million over the past three months.

Patterson-UTI Energy, Inc. (NASDAQ:PTEN - Free Report) - Equities research analysts at Zacks Research increased their Q1 2027 EPS estimates for Patterson-UTI Energy in a report released on Monday, October 5th. Zacks Research analyst Team now expects that the oil and gas company will post earnings of ($0.02) per share for the quarter, up from their prior forecast of ($0.04). Zacks Research 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 2028 earnings at $0.09 EPS.

PTEN has been the subject of a number of other reports. Piper Sandler reissued an "overweight" rating on shares of Patterson-UTI Energy in a research note on Friday, August 21st. Barclays raised their price objective on Patterson-UTI Energy from $15.00 to $16.00 and gave the stock an "overweight" rating in a report on Wednesday, August 5th. JPMorgan Chase & Co. raised Patterson-UTI Energy from an "underweight" rating to a "neutral" rating and set a $12.00 target price for the company in a research report on Friday, July 31st. Citigroup lowered their target price on Patterson-UTI Energy from $13.50 to $12.50 and set a "neutral" rating for the company in a report on Friday, October 2nd. Finally, UBS Group initiated coverage on Patterson-UTI Energy in a research report on Friday, October 2nd. They set a "neutral" rating and a $13.00 price target on the stock. Nine equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $13.14.

Patterson-UTI Energy Price Performance

PTEN stock opened at $11.41 on Wednesday. The stock has a market cap of $4.35 billion, a PE ratio of -49.61 and a beta of 0.77. Patterson-UTI Energy has a 12 month low of $5.24 and a 12 month high of $13.39. The company has a 50-day moving average price of $11.55 and a 200 day moving average price of $11.04. The company has a current ratio of 1.75, a quick ratio of 1.57 and a debt-to-equity ratio of 0.40.

Institutional Investors Weigh In On Patterson-UTI Energy

Hedge funds have recently made changes to their positions in the stock. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Patterson-UTI Energy in the second quarter valued at about $32,000. Nykredit A S bought a new position in Patterson-UTI Energy in the second quarter worth about $56,000. Rockefeller Capital Management L.P. lifted its position in shares of 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 last quarter. Allworth Financial LP purchased a new stake in shares of Patterson-UTI Energy during the second quarter valued at about $68,000. Finally, Cidel Asset Management Inc. bought a new stake in shares of Patterson-UTI Energy in the 1st quarter valued at about $110,000. 97.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Patterson-UTI Energy

In other Patterson-UTI Energy news, Director Robert Wayne Drummond, Jr. sold 198,395 shares of the company's stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $12.85, for a total transaction of $2,549,375.75. Following the completion of the sale, the director owned 928,773 shares in the company, valued at $11,934,733.05. This represents a 17.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Seth Wexler sold 120,000 shares of the stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $12.75, for a total value of $1,530,000.00. Following the sale, the executive vice president directly owned 404,582 shares in the company, valued at $5,158,420.50. This trade represents a 22.88% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 1,027,000 shares of company stock valued at $12,698,780. 2.20% of the stock is owned by corporate insiders.

Patterson-UTI Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend was Tuesday, September 1st. Patterson-UTI Energy's dividend payout ratio (DPR) is presently -173.91%.

About Patterson-UTI Energy

Patterson-UTI Energy, Inc NASDAQ: PTEN is an energy services company that provides drilling and well-completion solutions to oil and natural gas exploration and production companies. Its operations support the development of unconventional and conventional wells, primarily in North America.

The company's drilling services include contract land drilling, directional drilling, and related technologies designed to improve well placement, efficiency, and performance. Patterson-UTI also provides completion services, including pressure pumping, wireline, and other well-completion and production-support services.

Through its drilling products business, Patterson-UTI manufactures and distributes drilling equipment and downhole tools, including drill bits, drilling motors, and related products.

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