Zacks Research Analysts Boost Earnings Estimates for PTEN

Patterson-UTI Energy, Inc. (NASDAQ:PTEN - Free Report) - Equities research analysts at Zacks Research increased their Q2 2025 earnings per share estimates for shares of Patterson-UTI Energy in a research report issued to clients and investors on Wednesday, May 7th. Zacks Research analyst N. Choudhury now forecasts that the oil and gas company will earn ($0.05) per share for the quarter, up from their prior estimate of ($0.06). The consensus estimate for Patterson-UTI Energy's current full-year earnings is ($0.10) per share. Zacks Research also issued estimates for Patterson-UTI Energy's Q3 2025 earnings at ($0.03) EPS, Q4 2025 earnings at ($0.05) EPS, FY2025 earnings at ($0.13) EPS, Q1 2026 earnings at ($0.03) EPS, Q2 2026 earnings at $0.02 EPS, Q3 2026 earnings at $0.04 EPS, Q4 2026 earnings at $0.02 EPS, FY2026 earnings at $0.05 EPS and FY2027 earnings at $0.37 EPS.

Patterson-UTI Energy (NASDAQ:PTEN - Get Free Report) last released its earnings results on Wednesday, April 23rd. The oil and gas company reported $0.00 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.04) by $0.04. The firm had revenue of $1.28 billion during the quarter, compared to analysts' expectations of $1.18 billion. Patterson-UTI Energy had a positive return on equity of 0.81% and a negative net margin of 18.00%. The company's revenue was down 15.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.15 EPS.

A number of other research firms also recently weighed in on PTEN. Morgan Stanley decreased their price target on Patterson-UTI Energy from $10.00 to $9.00 and set an "equal weight" rating for the company in a research note on Thursday, March 27th. Stifel Nicolaus dropped their target price on shares of Patterson-UTI Energy from $13.00 to $12.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. Barclays dropped their target price on shares of Patterson-UTI Energy from $11.00 to $8.00 and set an "overweight" rating on the stock in a report on Monday, April 28th. The Goldman Sachs Group dropped their target price on shares of Patterson-UTI Energy from $11.00 to $8.00 and set a "neutral" rating on the stock in a report on Thursday, April 10th. Finally, Susquehanna dropped their target price on shares of Patterson-UTI Energy from $10.00 to $9.00 and set a "positive" rating on the stock in a report on Monday, April 14th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $10.32.

Patterson-UTI Energy Stock Up 0.8%

Shares of PTEN stock traded up $0.05 during trading on Monday, reaching $6.37. The company's stock had a trading volume of 15,722,151 shares, compared to its average volume of 9,307,561. The business has a fifty day moving average price of $6.76 and a 200-day moving average price of $7.74. The company has a quick ratio of 1.34, a current ratio of 1.54 and a debt-to-equity ratio of 0.35. The company has a market cap of $2.46 billion, a price-to-earnings ratio of -2.58 and a beta of 1.33. Patterson-UTI Energy has a one year low of $5.12 and a one year high of $11.70.

Hedge Funds Weigh In On Patterson-UTI Energy

A number of hedge funds have recently made changes to their positions in the stock. WFA Asset Management Corp bought a new stake in Patterson-UTI Energy during the fourth quarter valued at $27,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Patterson-UTI Energy by 1,443.0% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,441 shares of the oil and gas company's stock valued at $29,000 after acquiring an additional 3,218 shares in the last quarter. Meeder Asset Management Inc. bought a new position in Patterson-UTI Energy in the fourth quarter worth approximately $39,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Patterson-UTI Energy in the fourth quarter worth approximately $42,000. Finally, Smartleaf Asset Management LLC increased its position in shares of Patterson-UTI Energy by 43.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 5,660 shares of the oil and gas company's stock worth $46,000 after acquiring an additional 1,717 shares in the last quarter. 97.91% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director James Carl Stewart sold 5,500 shares of the stock in a transaction on Friday, May 9th. The stock was sold at an average price of $5.98, for a total value of $32,890.00. Following the completion of the transaction, the director now directly owns 999,754 shares in the company, valued at approximately $5,978,528.92. This represents a 0.55% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William Andrew Hendricks, Jr. bought 25,000 shares of Patterson-UTI Energy stock in a transaction on Wednesday, March 12th. The shares were acquired at an average cost of $7.88 per share, for a total transaction of $197,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 2,482,592 shares in the company, valued at approximately $19,562,824.96. The trade was a 1.02% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 283,649 shares of company stock worth $2,434,856 over the last three months. Insiders own 2.40% of the company's stock.

Patterson-UTI Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 5.02%. The ex-dividend date is Monday, June 2nd. Patterson-UTI Energy's payout ratio is presently -12.31%.

About Patterson-UTI Energy

Patterson-UTI Energy, Inc, through its subsidiaries, engages in the provision of contract drilling services to oil and natural gas operators in the United States and internationally. It operates through three segments: Drilling Services, Completion Services, and Drilling Products. The Contract Drilling Services segment provides contract and directional drilling services in onshore oil and natural gas basins, as well as engages in the service and re-certification of equipment for drilling contractors, and provision of electrical controls and automation to the energy, marine and mining industries.