Q2 EPS Estimate for Patterson-UTI Energy Boosted by Analyst

Key Points

• Zacks Research raised its Q2 2026 EPS estimate for Patterson-UTI Energy to a loss of $0.06 per share from $0.07, reflecting slightly improved expectations for the company’s near-term results. The firm kept a Hold rating on the stock.
• PTEN recently beat earnings expectations, reporting a loss of $0.06 per share versus the consensus estimate of a $0.10 loss, while revenue came in at $1.12 billion, slightly above estimates. However, revenue still fell 12.7% year over year.
• Analyst sentiment remains mixed, with recent price-target changes ranging from bullish upgrades to a Citigroup target cut to $10.50. MarketBeat data shows an average Hold rating and a consensus price target of $12.35.

Patterson-UTI Energy, Inc. (NASDAQ:PTEN - Free Report) - Equities research analysts at Zacks Research increased their Q2 2026 earnings per share estimates for shares of Patterson-UTI Energy in a note issued to investors on Friday, June 26th. Zacks Research analyst Team now expects that the oil and gas company will earn ($0.06) per share for the quarter, up from their prior estimate of ($0.07). Zacks Research currently has a "Hold" rating on the stock. The consensus estimate for Patterson-UTI Energy's current full-year earnings is ($0.14) per share. Zacks Research also issued estimates for Patterson-UTI Energy's Q3 2026 earnings at ($0.04) EPS, Q4 2026 earnings at ($0.06) EPS, FY2026 earnings at ($0.22) EPS, Q1 2027 earnings at ($0.09) EPS, Q2 2027 earnings at ($0.02) EPS, Q3 2027 earnings at ($0.03) EPS and FY2027 earnings at ($0.12) EPS.

Patterson-UTI Energy (NASDAQ:PTEN - Get Free Report) last released its earnings results on Wednesday, April 22nd. The oil and gas company reported ($0.06) EPS for the quarter, beating analysts' consensus estimates 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 the consensus estimate of $1.11 billion. The company's revenue for the quarter was down 12.7% on a year-over-year basis.

Several other brokerages also recently issued reports on PTEN. Stifel Nicolaus lifted their price objective on Patterson-UTI Energy from $14.00 to $15.00 and gave the stock a "buy" rating in a research report on Tuesday, June 16th. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Patterson-UTI Energy in a research report on Tuesday, May 26th. Piper Sandler lifted their price target on shares of Patterson-UTI Energy from $12.00 to $13.00 and gave the company a "neutral" rating in a report on Wednesday, May 27th. Bank of America reissued a "buy" rating on shares of Patterson-UTI Energy in a research note on Monday, March 2nd. Finally, KeyCorp upgraded Patterson-UTI Energy to an "overweight" rating in a report on Wednesday, May 27th. Eight equities research analysts have rated the stock with a Buy rating, five have given 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 an average price target of $12.35.

Patterson-UTI Energy Stock Down 0.4%

Patterson-UTI Energy stock opened at $9.55 on Tuesday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.63 and a current ratio of 1.84. The stock's fifty day moving average is $11.33 and its two-hundred day moving average is $9.37. 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 $3.63 billion, a price-to-earnings ratio of -30.81 and a beta of 0.61.

Institutional Investors Weigh In On Patterson-UTI Energy

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Royal Bank of Canada increased its holdings in Patterson-UTI Energy by 23.7% in the first quarter. Royal Bank of Canada now owns 169,995 shares of the oil and gas company's stock valued at $1,397,000 after buying an additional 32,622 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings 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 valued at $1,904,000 after acquiring an additional 10,142 shares during the period. Goldman Sachs Group Inc. boosted its stake in Patterson-UTI Energy by 4.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,747,463 shares of the oil and gas company's stock valued at $39,024,000 after purchasing an additional 220,422 shares during the period. United Services Automobile Association bought a new position in Patterson-UTI Energy in the 1st quarter worth approximately $176,000. Finally, 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 valued at $7,106,000 after purchasing an additional 30,217 shares during the period. Institutional investors own 97.91% of the company's stock.

Insider Buying and Selling at Patterson-UTI Energy

In other Patterson-UTI Energy news, CEO William Andrew Hendricks, Jr. sold 250,000 shares of the company's stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $11.85, for a total value of $2,962,500.00. Following the completion of the transaction, the chief executive officer directly owned 2,823,103 shares of the company's stock, valued at $33,453,770.55. This represents a 8.14% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Forrest C. Robinson sold 13,670 shares of the firm's stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $12.01, for a total value of $164,176.70. Following the sale, the chief accounting officer owned 56,842 shares of the company's stock, valued at approximately $682,672.42. This trade represents a 19.39% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 1,007,844 shares of company stock worth $11,922,302. Corporate insiders own 2.20% of the company's stock.

Patterson-UTI Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend was Monday, June 1st. Patterson-UTI Energy's dividend payout ratio (DPR) is currently -129.03%.

Trending Headlines about Patterson-UTI Energy

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

• Positive Sentiment: Zacks Research lifted earnings estimates for Patterson-UTI Energy across multiple periods, including FY2026, FY2027, Q2 2026, Q3 2026, Q4 2026, Q1 2027, Q2 2027, and Q3 2027, suggesting analysts see slightly better profit trends ahead. PTEN estimates update
• Neutral Sentiment: Zacks Research kept a Hold rating on Patterson-UTI Energy, indicating its improved estimates were not enough to turn the firm more bullish. PTEN rating update
• Negative Sentiment: Citigroup lowered its price target on Patterson-UTI Energy to $10.50 from $11.00 and kept a neutral stance, signaling more limited upside than before. Citigroup target cut
• Neutral Sentiment: An article titled “Is Patterson-UTI Energy, Inc. (PTEN) A Good Stock To Buy Now?” also circulated, but it appears to be more of a general commentary piece than a direct company-specific catalyst. Yahoo Finance article

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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