Q4 EPS Estimate for Patterson-UTI Energy Boosted by Analyst

Key Points

• Zacks Research raised its Q4 2027 EPS estimate for Patterson-UTI Energy to $0.01 from a prior forecast of a $0.01 loss, while maintaining a Strong-Buy rating.
• The company’s most recent earnings beat expectations, reporting a loss of $0.06 per share versus an estimated loss of $0.10, with revenue of $1.12 billion coming in slightly above forecasts.
• Analyst sentiment is broadly positive, with multiple firms upgrading the stock and MarketBeat citing an average rating of Moderate Buy and an average price target of $12.10.

Patterson-UTI Energy, Inc. (NASDAQ:PTEN - Free Report) - Zacks Research upped their Q4 2027 earnings per share (EPS) estimates for shares of Patterson-UTI Energy in a research report issued to clients and investors on Tuesday, June 2nd. Zacks Research analyst Team now anticipates that the oil and gas company will post earnings of $0.01 per share for the quarter, up from their previous forecast of ($0.01). Zacks Research currently has a "Strong-Buy" rating on the stock. The consensus estimate for Patterson-UTI Energy's current full-year earnings is ($0.16) per share. Zacks Research also issued estimates for Patterson-UTI Energy's Q1 2028 earnings at $0.05 EPS.

Patterson-UTI Energy (NASDAQ:PTEN - Get Free Report) last released its quarterly earnings data on Wednesday, April 22nd. The oil and gas company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.04. The business had revenue of $1.12 billion for 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%.Patterson-UTI Energy's quarterly revenue was down 12.7% compared to the same quarter last year.

Several other equities analysts have also commented on the company. KeyCorp raised Patterson-UTI Energy to an "overweight" rating in a research report on Wednesday, May 27th. Barclays raised Patterson-UTI Energy from an "equal weight" rating to an "overweight" rating and boosted their price target for the stock from $10.00 to $15.00 in a research report on Thursday, May 7th. Bank of America reissued a "buy" rating on shares of Patterson-UTI Energy in a research report on Monday, March 2nd. Capital One Financial raised Patterson-UTI Energy from an "equal weight" rating to an "overweight" rating and set a $12.00 price target on the stock in a research report on Monday, April 20th. Finally, Weiss Ratings reissued a "sell (d+)" rating on shares of Patterson-UTI Energy in a research report on Tuesday, May 26th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $12.10.

Patterson-UTI Energy Stock Performance

NASDAQ PTEN opened at $11.73 on Wednesday. The firm has a market capitalization of $4.45 billion, a P/E ratio of -37.84 and a beta of 0.61. Patterson-UTI Energy has a 1-year low of $5.10 and a 1-year high of $13.08. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.84 and a quick ratio of 1.63. The business's 50-day simple moving average is $11.26 and its 200-day simple moving average is $8.68.

Institutional Investors Weigh In On Patterson-UTI Energy

A number of institutional investors have recently made changes to their positions in the company. Alpine Woods Capital Investors LLC bought a new stake in shares of Patterson-UTI Energy in the 1st quarter valued at approximately $243,000. Glenmede Trust Co. NA boosted its position in Patterson-UTI Energy by 199.9% during the 1st quarter. Glenmede Trust Co. NA now owns 35,637 shares of the oil and gas company's stock valued at $386,000 after purchasing an additional 23,755 shares during the period. Bank of America Corp DE boosted its position in Patterson-UTI Energy by 10.9% during the 1st quarter. Bank of America Corp DE now owns 4,855,166 shares of the oil and gas company's stock valued at $52,581,000 after purchasing an additional 475,623 shares during the period. Amundi boosted its position in Patterson-UTI Energy by 646.3% during the 1st quarter. Amundi now owns 110,955 shares of the oil and gas company's stock valued at $1,202,000 after purchasing an additional 96,088 shares during the period. Finally, California State Teachers Retirement System boosted its position in Patterson-UTI Energy by 20.4% during the 1st quarter. California State Teachers Retirement System now owns 425,281 shares of the oil and gas company's stock valued at $4,606,000 after purchasing an additional 72,082 shares during the period. 97.91% of the stock is currently owned by institutional investors.

Insider Transactions at Patterson-UTI Energy

In other news, Director Cesar Jaime sold 10,000 shares of the business's stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $12.29, for a total value of $122,900.00. Following the completion of the sale, the director directly owned 77,462 shares in the company, valued at approximately $952,007.98. The trade was a 11.43% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO James Michael Holcomb sold 150,000 shares of the business'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 value of $1,720,500.00. Following the completion of the sale, the chief operating officer owned 421,523 shares of the company's stock, valued at $4,834,868.81. This trade represents a 26.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 958,949 shares of company stock valued at $11,107,535 over the last 90 days. Insiders own 2.20% of the company's stock.

Patterson-UTI Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date is Monday, June 1st. Patterson-UTI Energy's payout ratio is -129.03%.

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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