Q2 Earnings Estimate for PTEN Issued By Zacks Research

Key Points

• Zacks Research issued a Q2 2028 EPS estimate of $0.01 per share for Patterson-UTI Energy and kept a Hold rating on the stock. The consensus full-year earnings estimate remains ($0.14) per share.
• Analyst sentiment is mixed overall, with a consensus rating of Hold and an average price target of $12.35. Recent moves included Goldman Sachs and RBC raising targets, while Citi lowered its target and Weiss Ratings reiterated a sell rating.
• PTEN recently reported a smaller-than-expected loss in its last quarter, but revenue still fell 12.7% year over year. The company also paid a $0.10 quarterly dividend, which annualizes to a 4.7% yield.

Patterson-UTI Energy, Inc. (NASDAQ:PTEN - Free Report) - Investment analysts at Zacks Research issued their Q2 2028 earnings per share estimates for Patterson-UTI Energy in a research report issued to clients and investors on Friday, June 26th. Zacks Research analyst Team forecasts that the oil and gas company will earn $0.01 per share for the quarter. Zacks Research has a "Hold" rating on the stock. The consensus estimate for Patterson-UTI Energy's current full-year earnings is ($0.14) per share.

Several other research analysts have also commented on PTEN. The Goldman Sachs Group lifted their price objective on shares of Patterson-UTI Energy from $11.00 to $13.00 and gave the stock a "buy" rating in a research note on Thursday, June 4th. Morgan Stanley increased their target price on shares of Patterson-UTI Energy from $7.00 to $10.00 and gave the company an "equal weight" rating in a research note on Wednesday, April 15th. Royal Bank Of Canada raised their target price on shares of Patterson-UTI Energy from $14.00 to $15.00 and gave the stock an "outperform" rating in a report on Friday, May 29th. Citigroup dropped their price target on shares of Patterson-UTI Energy from $11.00 to $10.50 and set a "neutral" rating for the company in a research note on Monday. Finally, Weiss Ratings reiterated a "sell (d+)" rating on shares of Patterson-UTI Energy in a report on Tuesday, May 26th. Eight analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $12.35.

Patterson-UTI Energy Stock Performance

NASDAQ:PTEN opened at $8.57 on Thursday. The stock's fifty day moving average is $11.30 and its 200 day moving average is $9.41. Patterson-UTI Energy has a fifty-two week low of $5.10 and a fifty-two week high of $13.08. The firm has a market capitalization of $3.25 billion, a PE ratio of -27.64 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 (NASDAQ:PTEN - Get Free Report) last posted its quarterly earnings data on Wednesday, April 22nd. The oil and gas company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.04. The business had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.11 billion. Patterson-UTI Energy had a negative return on equity of 2.32% and a negative net margin of 2.56%.The firm's revenue was down 12.7% compared to the same quarter last year.

Patterson-UTI Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 4.7%. The ex-dividend date of this dividend was Monday, June 1st. Patterson-UTI Energy's dividend payout ratio is -129.03%.

Insiders Place Their Bets

In other news, CEO William Andrew Hendricks, Jr. sold 200,000 shares of the business's stock in a transaction on Friday, June 5th. The shares were sold at an average price of $11.64, for a total transaction of $2,328,000.00. Following the completion of the sale, the chief executive officer directly owned 2,542,474 shares of the company's stock, valued at approximately $29,594,397.36. The trade was a 7.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert Wayne Drummond, Jr. sold 61,475 shares of the company's stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $12.02, for a total transaction of $738,929.50. Following the completion of the transaction, the director owned 1,128,773 shares in the company, valued at approximately $13,567,851.46. The trade was a 5.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 1,007,844 shares of company stock valued at $11,922,302. Insiders own 2.20% of the company's stock.

Institutional Investors Weigh In On Patterson-UTI Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PTEN. Sourcerock Group LLC grew its stake in Patterson-UTI Energy by 109.2% in the 2nd quarter. Sourcerock Group LLC now owns 13,803,775 shares of the oil and gas company's stock worth $81,856,000 after acquiring an additional 7,205,652 shares in the last quarter. Holocene Advisors LP raised its stake in shares of Patterson-UTI Energy by 176.6% during the third quarter. Holocene Advisors LP now owns 9,228,022 shares of the oil and gas company's stock valued at $47,801,000 after acquiring an additional 5,891,956 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Patterson-UTI Energy by 110.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 10,559,219 shares of the oil and gas company's stock valued at $64,517,000 after acquiring an additional 5,551,276 shares in the last quarter. UBS Group AG boosted its holdings in shares of Patterson-UTI Energy by 121.2% in the fourth quarter. UBS Group AG now owns 8,320,544 shares of the oil and gas company's stock valued at $50,839,000 after purchasing an additional 4,558,445 shares during the period. Finally, Millennium Management LLC boosted its holdings in shares of Patterson-UTI Energy by 97.7% in the third quarter. Millennium Management LLC now owns 8,989,351 shares of the oil and gas company's stock valued at $46,565,000 after purchasing an additional 4,442,700 shares during the period. Institutional investors own 97.91% of the company's stock.

Key Stories Impacting Patterson-UTI Energy

Here are the key news stories impacting Patterson-UTI Energy this week:

• Positive Sentiment: Zacks Research lifted its earnings estimates for Patterson-UTI Energy across several periods, including Q2, Q3 and Q4 2026, plus FY2026 and FY2027, suggesting slightly better operating expectations ahead.
• Positive Sentiment: A Seeking Alpha piece argued investors may want to keep holding PTEN as geopolitical risk around the Strait of Hormuz reopens, implying potential support from oil-market volatility. Article Title
• Neutral Sentiment: Citi reportedly kept a Neutral/Hold rating on Patterson-UTI Energy, indicating the bank does not see a strong near-term catalyst either way. Article Title
• Neutral Sentiment: Another report said Citi stuck with its Hold rating on PTEN, reinforcing a wait-and-see view from analysts. Article Title
• Negative Sentiment: Citi’s lower price target is the clearest bearish catalyst in the news flow and likely helping explain why PTEN is moving down today.
• Negative Sentiment: An article asking whether PTEN is a good stock to buy now reflects ongoing valuation and earnings concerns rather than a strong bullish thesis. Article Title

About Patterson-UTI Energy

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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