Patterson-UTI Energy (PTEN) Projected to Announce Earnings on Wednesday

Key Points

• Patterson-UTI Energy is expected to report Q2 2026 earnings after the market closes on Wednesday, July 29, with analysts forecasting a loss of $0.03 per share on revenue of $1.1548 billion.
• The company’s last quarter beat expectations, posting EPS of -$0.06 versus estimates of -$0.10 and revenue of $1.12 billion, though sales were still down 12.7% year over year.
• Wall Street sentiment is mixed but improving, with several firms raising price targets and ratings; the stock currently carries an average Hold rating and an average target price of $12.15.

Patterson-UTI Energy (NASDAQ:PTEN - Get Free Report) will likely be posting its Q2 2026 results after the market closes on Wednesday, July 29th. Analysts expect the company to post earnings of ($0.03) per share and revenue of $1.1548 billion for the quarter. Investors may visit the the company's upcoming Q2 2026 earning report page for the latest details on the call scheduled for Thursday, July 30, 2026 at 10:00 AM ET.

Patterson-UTI Energy (NASDAQ:PTEN - Get Free Report) last issued its quarterly earnings data on Wednesday, April 22nd. The oil and gas company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.04. Patterson-UTI Energy had a negative return on equity of 2.32% and a negative net margin of 2.56%.The company had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.11 billion. The business's revenue was down 12.7% compared to the same quarter last year. On average, analysts expect Patterson-UTI Energy to post $-0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Patterson-UTI Energy Stock Up 4.3%

Shares of NASDAQ:PTEN opened at $10.53 on Wednesday. The firm has a market capitalization of $4.00 billion, a PE ratio of -33.97 and a beta of 0.62. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.63 and a current ratio of 1.84. Patterson-UTI Energy has a 52-week low of $5.10 and a 52-week high of $13.08. The firm has a fifty day moving average of $10.72 and a 200 day moving average of $9.76.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Morgan Stanley increased their target price on Patterson-UTI Energy from $7.00 to $10.00 and gave the company an "equal weight" rating in a report on Wednesday, April 15th. Piper Sandler raised Patterson-UTI Energy from a "neutral" rating to an "overweight" rating and set a $13.00 price objective for the company in a research note on Tuesday, July 14th. Barclays raised shares of Patterson-UTI Energy from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $10.00 to $15.00 in a research note on Thursday, May 7th. Weiss Ratings restated a "sell (d+)" rating on shares of Patterson-UTI Energy in a report on Tuesday, May 26th. Finally, Citigroup decreased their price objective on shares of Patterson-UTI Energy from $11.00 to $10.50 and set a "neutral" rating for the company in a report on Monday, June 29th. Nine research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, Patterson-UTI Energy currently has an average rating of "Hold" and an average target price of $12.15.

Insiders Place Their Bets

In other news, CEO William Andrew Hendricks, Jr. sold 250,000 shares of the firm's stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $11.85, for a total transaction of $2,962,500.00. Following the sale, the chief executive officer owned 2,823,103 shares of the company's stock, valued at $33,453,770.55. This trade represents a 8.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Robert Wayne Drummond, Jr. sold 322,699 shares of Patterson-UTI Energy stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $12.04, for a total transaction of $3,885,295.96. Following the completion of the sale, the director directly owned 1,190,248 shares of the company's stock, valued at approximately $14,330,585.92. This trade represents a 21.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,007,844 shares of company stock worth $11,922,302 in the last three months. Corporate insiders own 2.20% of the company's stock.

Institutional Investors Weigh In On Patterson-UTI Energy

Large investors have recently made changes to their positions in the company. Quarry LP grew its position in Patterson-UTI Energy by 360.3% during the third quarter. Quarry LP now owns 4,934 shares of the oil and gas company's stock valued at $26,000 after buying an additional 3,862 shares during the period. EverSource Wealth Advisors LLC raised its position in shares of Patterson-UTI Energy by 494.6% during the second quarter. EverSource Wealth Advisors LLC now owns 8,621 shares of the oil and gas company's stock valued at $51,000 after buying an additional 7,171 shares during the last quarter. Aster Capital Management DIFC Ltd lifted its holdings in shares of Patterson-UTI Energy by 21.6% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 8,717 shares of the oil and gas company's stock worth $53,000 after buying an additional 1,547 shares in the last quarter. Glenmede Investment Management LP purchased a new position in shares of Patterson-UTI Energy in the third quarter worth $55,000. Finally, Ritter Alpha LP purchased a new position in Patterson-UTI Energy during the third quarter valued at $55,000. 97.91% of the stock is currently owned by institutional investors.

Patterson-UTI Energy Company Profile

Patterson-UTI Energy provides a comprehensive suite of onshore contract drilling and pressure pumping services to exploration and production companies in North America. The company's core offerings include land-based drilling rigs, directional drilling, hydraulic fracturing services, downhole tool rental and well-servicing equipment. By integrating drilling and completion capabilities, Patterson-UTI Energy offers operators a streamlined solution designed to improve operational efficiency and well performance.

Headquartered in Houston, Texas, Patterson-UTI Energy traces its origins to its founding in 1978 and was later incorporated in Delaware in 1996.

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