Research Analysts Set Expectations for PTEN Q3 Earnings

Key Points

• Zacks expects Patterson-UTI Energy to report Q3 2026 EPS of $0.02, while forecasting a full-year loss of $0.04 per share and a FY2026 loss of $0.05.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and $12.95 average price target; Zacks rates the stock “Strong Buy,” despite near-term losses.
• Patterson-UTI Energy declared a quarterly dividend of $0.10, equivalent to $0.40 annually and a 3.7% yield; shares recently opened at $10.90.

Patterson-UTI Energy, Inc. (NASDAQ:PTEN - Free Report) - Zacks Research issued their Q3 2026 earnings per share estimates for shares of Patterson-UTI Energy in a report issued on Wednesday, August 12th. Zacks Research analyst Team forecasts that the oil and gas company will post earnings of $0.02 per share for the quarter. 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 FY2026 earnings at ($0.05) EPS, Q1 2027 earnings at ($0.05) EPS, Q3 2027 earnings at $0.02 EPS, Q4 2027 earnings at $0.04 EPS and FY2028 earnings at $0.38 EPS.

A number of other research analysts have also weighed in on the company. The Goldman Sachs Group upped their price objective on Patterson-UTI Energy from $11.00 to $13.00 and gave the stock a "buy" rating in a report on Thursday, June 4th. 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. JPMorgan Chase & Co. raised shares of Patterson-UTI Energy from an "underweight" rating to a "neutral" rating and set a $12.00 price target on the stock in a research note on Friday, July 31st. Citigroup cut their price target on Patterson-UTI Energy from $11.00 to $10.50 and set a "neutral" rating for the company in a report on Monday, June 29th. Finally, KeyCorp upgraded shares of Patterson-UTI Energy to an "overweight" rating in a report on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $12.95.

Patterson-UTI Energy Price Performance

Shares of NASDAQ PTEN opened at $10.90 on Friday. The company has a market cap of $4.16 billion, a PE ratio of -47.39 and a beta of 0.63. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.75 and a quick ratio of 1.57. Patterson-UTI Energy has a 1-year low of $5.10 and a 1-year high of $13.08. The stock has a fifty day moving average price of $10.09 and a 200 day moving average price of $10.15.

Patterson-UTI Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend is Tuesday, September 1st. Patterson-UTI Energy's payout ratio is currently -173.91%.

Insider Buying and Selling

In related news, CAO Forrest C. Robinson sold 13,670 shares of the business's stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $12.01, for a total transaction of $164,176.70. Following the completion of the transaction, the chief accounting officer owned 56,842 shares in the company, valued at $682,672.42. The trade was a 19.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO James Michael Holcomb sold 150,000 shares of the business's stock in a transaction 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 transaction, the chief operating officer directly owned 421,523 shares of the company's stock, valued at approximately $4,834,868.81. This trade represents a 26.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 363,670 shares of company stock worth $4,212,677 over the last quarter. 2.20% of the stock is owned by company insiders.

Institutional Trading of Patterson-UTI Energy

A number of institutional investors have recently made changes to their positions in PTEN. Quarry LP boosted its stake in Patterson-UTI Energy by 360.3% during the 3rd 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 in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Patterson-UTI Energy in the second quarter worth approximately $32,000. First Horizon Corp raised its stake in Patterson-UTI Energy by 58.5% during the 4th quarter. First Horizon Corp now owns 5,554 shares of the oil and gas company's stock valued at $34,000 after purchasing an additional 2,049 shares during the period. Rockefeller Capital Management L.P. raised its position in Patterson-UTI Energy by 187.6% during the fourth quarter. Rockefeller Capital Management L.P. now owns 6,591 shares of the oil and gas company's stock valued at $40,000 after buying an additional 4,299 shares during the period. Finally, Torren Management LLC acquired a new stake in shares of Patterson-UTI Energy during the fourth quarter worth approximately $44,000. 97.91% of the stock is owned by institutional investors and hedge funds.

Patterson-UTI Energy News Summary

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

• Positive Sentiment: Zacks raised its FY2026 EPS forecast to a loss of $0.05 from a loss of $0.10, while increasing its FY2027 estimate to $0.04 from $0.02 and FY2028 to $0.38 from $0.27. These upgrades indicate analysts expect a stronger earnings recovery over time. Patterson-UTI Energy analyst estimates
• Positive Sentiment: Quarterly estimates also improved: Q1 2027 EPS was raised to a loss of $0.05 from a loss of $0.06, Q3 2027 increased to $0.02 from $0.01, Q2 2027 rose to $0.03 from $0.02, and Q2 2028 advanced to $0.09 from $0.05. Patterson-UTI Energy quarterly earnings estimates
• Neutral Sentiment: Analyst coverage gives PTEN a consensus “Moderate Buy” recommendation, while Zacks specifically rates the shares “Strong-Buy.” The overall sentiment is supportive, but the current full-year consensus still calls for a $0.04-per-share loss. Patterson-UTI Energy consensus recommendation
• Negative Sentiment: Zacks trimmed its Q4 2027 EPS forecast to $0.04 from $0.05. In addition, Zacks expects a $0.05-per-share loss for FY2026 and a $0.05 loss in Q1 2027, underscoring continued near-term earnings pressure despite the longer-term upgrades. Patterson-UTI Energy revised earnings estimates

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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