What is Zacks Research's Estimate for PTEN Q2 Earnings?

Key Points

• Zacks Research expects Patterson-UTI Energy (NASDAQ: PTEN) to report Q2 2026 EPS of -$0.03 and currently rates the stock Hold.
• The company’s most recent quarterly results beat expectations, posting -$0.06 EPS versus the consensus of -$0.10, while revenue came in at $1.12 billion, slightly above estimates.
• Analyst sentiment is mixed but leaning neutral: recent target-price changes ranged from $12 to $15, and MarketBeat shows a consensus Hold rating with a $12.15 average price target.

Patterson-UTI Energy, Inc. (NASDAQ:PTEN - Free Report) - Research analysts at Zacks Research issued their Q2 2026 earnings per share estimates for Patterson-UTI Energy in a note issued to investors on Wednesday, July 22nd. Zacks Research analyst Team forecasts that the oil and gas company will post earnings per share of ($0.03) for the quarter. Zacks Research currently has a "Hold" rating on the stock. The consensus estimate for Patterson-UTI Energy's current full-year earnings is ($0.06) per share. Zacks Research also issued estimates for Patterson-UTI Energy's Q3 2026 earnings at $0.00 EPS, Q4 2026 earnings at ($0.01) EPS, FY2026 earnings at ($0.10) EPS, Q1 2027 earnings at ($0.06) EPS, Q2 2027 earnings at $0.02 EPS, Q3 2027 earnings at $0.01 EPS, Q4 2027 earnings at $0.05 EPS, FY2027 earnings at $0.02 EPS, Q2 2028 earnings at $0.05 EPS and FY2028 earnings at $0.27 EPS.

Patterson-UTI Energy (NASDAQ:PTEN - Get Free Report) last announced its quarterly earnings data on Wednesday, April 22nd. The oil and gas company reported ($0.06) EPS for the quarter, topping analysts' consensus estimates of ($0.10) by $0.04. Patterson-UTI Energy had a negative net margin of 2.56% and a negative return on equity of 2.32%. The business had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.11 billion. The business's quarterly revenue was down 12.7% on a year-over-year basis.

A number of other analysts also recently issued reports on PTEN. Royal Bank Of Canada lifted their target price on Patterson-UTI Energy from $14.00 to $15.00 and gave the company an "outperform" rating in a research report on Friday, May 29th. Barclays raised shares of Patterson-UTI Energy from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $10.00 to $15.00 in a research note on Thursday, May 7th. 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 note on Tuesday, July 14th. KeyCorp raised shares of Patterson-UTI Energy to an "overweight" rating in a report on Wednesday, May 27th. Finally, Susquehanna reduced their price target on Patterson-UTI Energy from $14.00 to $12.00 and set a "positive" rating for the company in a report on Wednesday, July 8th. Nine research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $12.15.

Patterson-UTI Energy Stock Down 3.5%

Patterson-UTI Energy stock opened at $10.34 on Friday. The company has a current ratio of 1.84, a quick ratio of 1.63 and a debt-to-equity ratio of 0.39. Patterson-UTI Energy has a 1-year low of $5.10 and a 1-year high of $13.08. The company has a fifty day simple moving average of $10.66 and a 200 day simple moving average of $9.82. The company has a market cap of $3.93 billion, a P/E ratio of -33.35 and a beta of 0.62.

Institutional Trading of Patterson-UTI Energy

A number of hedge funds and other institutional investors have recently modified their holdings of PTEN. Quarry LP boosted its holdings in shares of 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 acquiring an additional 3,862 shares in the last quarter. First Horizon Corp increased its holdings in 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 worth $34,000 after purchasing 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 4th quarter. Rockefeller Capital Management L.P. now owns 6,591 shares of the oil and gas company's stock worth $40,000 after purchasing an additional 4,299 shares in the last quarter. Torren Management LLC bought a new position in Patterson-UTI Energy in the fourth quarter valued at about $44,000. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Patterson-UTI Energy by 494.6% during the second quarter. EverSource Wealth Advisors LLC now owns 8,621 shares of the oil and gas company's stock valued at $51,000 after purchasing an additional 7,171 shares in the last quarter. Institutional investors own 97.91% of the company's stock.

Insider Activity

In other news, Director Cesar Jaime sold 10,000 shares of the company's stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $12.29, for a total transaction of $122,900.00. Following the completion of the sale, the director owned 77,462 shares of the company's stock, valued at approximately $952,007.98. This represents a 11.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO William Andrew Hendricks, Jr. sold 200,000 shares of the stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $11.64, for a total transaction of $2,328,000.00. Following the sale, the chief executive officer owned 2,542,474 shares in the company, valued at $29,594,397.36. This represents a 7.29% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 1,007,844 shares of company stock valued at $11,922,302. Company insiders own 2.20% of the company's stock.

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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