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

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

PTEN traded down $0.09 on Friday, hitting $5.94. The company's stock had a trading volume of 7,550,679 shares, compared to its average volume of 10,158,078. The company's 50 day simple moving average is $6.06 and its 200-day simple moving average is $7.10. The company has a quick ratio of 1.40, a current ratio of 1.61 and a debt-to-equity ratio of 0.36. Patterson-UTI Energy has a 12 month low of $5.12 and a 12 month high of $11.07. The firm has a market cap of $2.29 billion, a P/E ratio of -2.28 and a beta of 1.32.

Patterson-UTI Energy Dividend Announcement

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 $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 5.39%. The ex-dividend date was Monday, June 2nd. Patterson-UTI Energy's payout ratio is presently -12.31%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on PTEN shares. Barclays decreased their price objective on shares of Patterson-UTI Energy from $11.00 to $8.00 and set an "overweight" rating on the stock in a research report on Monday, April 28th. The Goldman Sachs Group dropped their price objective on shares of Patterson-UTI Energy from $11.00 to $8.00 and set a "neutral" rating on the stock in a research note on Thursday, April 10th. Morgan Stanley dropped their price objective on shares of Patterson-UTI Energy from $9.00 to $7.00 and set an "equal weight" rating on the stock in a research note on Friday, May 16th. JPMorgan Chase & Co. dropped their target price on shares of Patterson-UTI Energy from $9.00 to $7.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 28th. Finally, Piper Sandler began coverage on shares of Patterson-UTI Energy in a research note on Tuesday. They issued a "neutral" rating and a $7.00 target price on the stock. One analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $8.77.

Insider Activity at Patterson-UTI Energy

In related news, Director James Carl Stewart sold 5,500 shares of Patterson-UTI Energy stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $5.98, for a total transaction of $32,890.00. Following the completion of the transaction, the director directly owned 999,754 shares of the company's stock, valued at approximately $5,978,528.92. The trade was a 0.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.40% of the company's stock.

Institutional Investors Weigh In On Patterson-UTI Energy

Large investors have recently modified their holdings of the business. United Services Automobile Association purchased a new stake in Patterson-UTI Energy during the 1st quarter worth approximately $176,000. Royal Bank of Canada boosted its holdings in 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. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in 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 in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in 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 acquiring an additional 30,217 shares during the period. Finally, Goldman Sachs Group Inc. raised its position in 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 acquiring an additional 220,422 shares during the period. Institutional investors own 97.91% of the company's stock.

Patterson-UTI Energy Company Profile

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.