Patterson-UTI Energy (PTEN) to Release Quarterly Earnings on Wednesday

Patterson-UTI Energy (NASDAQ:PTEN - Get Free Report) is expected to be releasing its Q2 2025 earnings data after the market closes on Wednesday, July 23rd. Analysts expect Patterson-UTI Energy to post earnings of ($0.03) per share and revenue of $1.24 billion for the quarter.

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

Shares of PTEN traded up $0.13 during midday trading on Thursday, reaching $6.05. The stock had a trading volume of 3,390,189 shares, compared to its average volume of 10,125,149. The firm has a 50 day simple moving average of $6.06 and a 200-day simple moving average of $7.13. Patterson-UTI Energy has a one year low of $5.12 and a one year high of $11.27. The firm has a market cap of $2.33 billion, a PE ratio of -2.32 and a beta of 1.32. The company has a current ratio of 1.61, a quick ratio of 1.40 and a debt-to-equity ratio of 0.36.

Patterson-UTI Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 5.29%. The ex-dividend date was Monday, June 2nd. Patterson-UTI Energy's dividend payout ratio (DPR) is presently -12.31%.

Wall Street Analyst Weigh In

Several analysts recently commented on PTEN shares. Barclays reduced their target price 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, April 28th. Susquehanna reduced their target price on shares of Patterson-UTI Energy from $9.00 to $8.00 and set a "positive" rating for the company in a report on Wednesday, June 4th. Citigroup reaffirmed a "neutral" rating and set a $6.50 target price on shares of Patterson-UTI Energy in a report on Monday, May 19th. Piper Sandler started coverage on shares of Patterson-UTI Energy in a report on Tuesday. They issued a "neutral" rating and a $7.00 price objective for the company. Finally, Stifel Nicolaus cut their price objective on shares of Patterson-UTI Energy from $13.00 to $12.00 and set a "buy" rating for the company in a report on Wednesday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $8.77.

Insider Activity at Patterson-UTI Energy

In other news, Director James Carl Stewart sold 5,500 shares of the business's stock in a transaction that occurred on Friday, May 9th. The shares were 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 approximately $5,978,528.92. The trade was a 0.55% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.40% of the company's stock.

Hedge Funds Weigh In On Patterson-UTI Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Patterson-UTI Energy by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 231,637 shares of the oil and gas company's stock worth $1,904,000 after buying an additional 10,142 shares during the last quarter. United Services Automobile Association acquired a new position in shares of Patterson-UTI Energy during the first quarter worth $176,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Patterson-UTI Energy by 3.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 864,492 shares of the oil and gas company's stock worth $7,106,000 after buying an additional 30,217 shares in the last quarter. Royal Bank of Canada increased its holdings in shares of Patterson-UTI Energy by 23.7% during the first quarter. Royal Bank of Canada now owns 169,995 shares of the oil and gas company's stock worth $1,397,000 after buying an additional 32,622 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Patterson-UTI Energy by 4.9% during the first quarter. Goldman Sachs Group Inc. now owns 4,747,463 shares of the oil and gas company's stock worth $39,024,000 after buying an additional 220,422 shares in the last quarter. Institutional investors own 97.91% of the company's stock.

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.