Atb Cap Markets Analysts Reduce Earnings Estimates for PTEN

Patterson-UTI Energy, Inc. (NASDAQ:PTEN - Free Report) - Stock analysts at Atb Cap Markets dropped their FY2025 earnings per share estimates for shares of Patterson-UTI Energy in a research note issued on Tuesday, July 1st. Atb Cap Markets analyst W. Syed now forecasts that the oil and gas company will earn ($0.18) per share for the year, down from their previous estimate of ($0.17). 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 Q1 2026 earnings at ($0.09) EPS, Q2 2026 earnings at ($0.06) EPS, Q3 2026 earnings at ($0.04) EPS, Q4 2026 earnings at ($0.07) EPS, FY2026 earnings at ($0.26) EPS, Q1 2027 earnings at ($0.05) EPS, Q2 2027 earnings at ($0.02) EPS and FY2027 earnings at ($0.08) EPS.

Patterson-UTI Energy (NASDAQ:PTEN - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The oil and gas company reported $0.00 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.04. The business had revenue of $1.28 billion for the quarter, compared to analysts' expectations of $1.18 billion. Patterson-UTI Energy had a negative return on equity of 0.70% and a negative net margin of 19.78%. The firm's quarterly revenue was down 15.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.15 EPS.

PTEN has been the topic of several other reports. Susquehanna lowered their price target on Patterson-UTI Energy from $9.00 to $8.00 and set a "positive" rating on the stock in a report on Wednesday, June 4th. Citigroup reissued a "neutral" rating and set a $6.50 price target on shares of Patterson-UTI Energy in a report on Monday, May 19th. Morgan Stanley lowered their price target on Patterson-UTI Energy from $9.00 to $7.00 and set an "equal weight" rating on the stock in a report on Friday, May 16th. Barclays lowered their price target on Patterson-UTI Energy from $11.00 to $8.00 and set an "overweight" rating on the stock in a report on Monday, April 28th. Finally, Stifel Nicolaus decreased their target price on Patterson-UTI Energy from $13.00 to $12.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $9.50.

Patterson-UTI Energy Stock Performance

Shares of NASDAQ PTEN traded down $0.14 during midday trading on Friday, hitting $6.17. 9,236,171 shares of the stock traded hands, compared to its average volume of 10,127,221. The firm has a 50-day moving average of $5.97 and a two-hundred day moving average of $7.20. The firm has a market capitalization of $2.38 billion, a P/E ratio of -2.37 and a beta of 1.32. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.40 and a current ratio of 1.61. Patterson-UTI Energy has a one year low of $5.12 and a one year high of $11.27.

Hedge Funds Weigh In On Patterson-UTI Energy

Several institutional investors have recently bought and sold shares of PTEN. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Patterson-UTI Energy by 1,443.0% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,441 shares of the oil and gas company's stock valued at $29,000 after acquiring an additional 3,218 shares in the last quarter. Meeder Asset Management Inc. bought a new stake in shares of Patterson-UTI Energy in the fourth quarter worth about $39,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Patterson-UTI Energy in the fourth quarter worth about $42,000. Smartleaf Asset Management LLC increased its holdings in shares of Patterson-UTI Energy by 43.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 5,660 shares of the oil and gas company's stock worth $46,000 after purchasing an additional 1,717 shares during the last quarter. Finally, State of Wyoming bought a new stake in shares of Patterson-UTI Energy in the first quarter worth about $54,000. 97.91% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Patterson-UTI Energy

In other Patterson-UTI Energy news, Director James Carl Stewart sold 5,500 shares of the company's stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $5.98, for a total value of $32,890.00. Following the completion of the transaction, the director directly owned 999,754 shares in the company, valued at $5,978,528.92. This represents a 0.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 2.30% of the company's stock.

Patterson-UTI Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 5.19%. The ex-dividend date of this dividend was Monday, June 2nd. Patterson-UTI Energy's dividend payout ratio is currently -12.31%.

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.