Q2 EPS Estimate for Patterson-UTI Energy Boosted by Analyst

Key Points

• Zacks Research raised Patterson-UTI Energy’s Q2 2027 EPS forecast to $0.03 from $0.02 and maintains a “Strong Buy” rating. Analysts collectively rate the stock “Moderate Buy,” with an average price target of $12.95.
• PTEN shares opened at $11.02, compared with a 52-week range of $5.10 to $13.08. Institutional investors and hedge funds own approximately 97.91% of the company.
• Patterson-UTI announced a quarterly dividend of $0.10 per share, equivalent to $0.40 annually and a 3.6% yield. However, insiders sold 363,670 shares worth about $4.21 million over the past three months.

Patterson-UTI Energy, Inc. (NASDAQ:PTEN - Free Report) - Equities researchers at Zacks Research increased their Q2 2027 EPS estimates for Patterson-UTI Energy in a research report issued on Wednesday, August 12th. Zacks Research analyst Team now forecasts that the oil and gas company will earn $0.03 per share for the quarter, up from their previous forecast of $0.02. Zacks Research has a "Strong-Buy" rating on the stock. The consensus estimate for Patterson-UTI Energy's current full-year earnings is ($0.04) per share. Zacks Research also issued estimates for Patterson-UTI Energy's FY2027 earnings at $0.04 EPS and Q2 2028 earnings at $0.09 EPS.

PTEN has been the subject of several other reports. Royal Bank Of Canada upped their target price on Patterson-UTI Energy from $14.00 to $15.00 and gave the company an "outperform" rating in a report on Friday, May 29th. JPMorgan Chase & Co. raised shares of Patterson-UTI Energy from an "underweight" rating to a "neutral" rating and set a $12.00 target price on the stock in a research report on Friday, July 31st. Piper Sandler upgraded shares of Patterson-UTI Energy from a "neutral" rating to an "overweight" rating and set a $13.00 price target for the company in a research report on Tuesday, July 14th. Barclays lifted their price objective on shares of Patterson-UTI Energy from $15.00 to $16.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 5th. Finally, Capital One Financial raised shares of Patterson-UTI Energy from an "equal weight" rating to an "overweight" rating and set a $12.00 target price on the stock in a research note on Monday, April 20th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $12.95.

Patterson-UTI Energy Price Performance

Shares of NASDAQ:PTEN opened at $11.02 on Thursday. The company has a market capitalization of $4.20 billion, a PE ratio of -47.91 and a beta of 0.63. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.57 and a current ratio of 1.75. The stock has a fifty day moving average of $10.11 and a 200-day moving average of $10.12. Patterson-UTI Energy has a one year low of $5.10 and a one year high of $13.08.

Hedge Funds Weigh In On Patterson-UTI Energy

A number of hedge funds have recently modified their holdings of the stock. Quarry LP boosted 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 purchasing an additional 3,862 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Patterson-UTI Energy during the 2nd quarter valued at about $32,000. First Horizon Corp grew its stake in shares of Patterson-UTI Energy by 58.5% in the 4th quarter. First Horizon Corp now owns 5,554 shares of the oil and gas company's stock valued at $34,000 after buying an additional 2,049 shares in the last quarter. Rockefeller Capital Management L.P. increased its holdings in Patterson-UTI Energy by 187.6% in the fourth quarter. Rockefeller Capital Management L.P. now owns 6,591 shares of the oil and gas company's stock worth $40,000 after buying an additional 4,299 shares during the last quarter. Finally, Torren Management LLC bought a new position in Patterson-UTI Energy during the fourth quarter valued at approximately $44,000. 97.91% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Patterson-UTI Energy

In related news, COO James Michael Holcomb sold 150,000 shares of the firm's stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $11.47, for a total transaction of $1,720,500.00. Following the completion of the sale, the chief operating officer directly owned 421,523 shares in the company, valued at approximately $4,834,868.81. This trade represents a 26.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO William Andrew Hendricks, Jr. sold 200,000 shares of the business's stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 2,542,474 shares in the company, valued at $29,594,397.36. The trade was a 7.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 363,670 shares of company stock valued at $4,212,677 over the last three months. 2.20% of the stock is owned by corporate insiders.

Patterson-UTI Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be issued a $0.10 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.6%. Patterson-UTI Energy's dividend payout ratio is currently -173.91%.

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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