Patterson-UTI Energy, Inc. (NASDAQ:PTEN - Free Report) - Zacks Research upped their Q2 2026 earnings per share (EPS) estimates for Patterson-UTI Energy in a note issued to investors on Wednesday, May 6th. Zacks Research analyst Team now expects that the oil and gas company will post earnings of ($0.08) per share for the quarter, up from their prior forecast of ($0.09). Zacks Research has a "Strong-Buy" rating on the stock. The consensus estimate for Patterson-UTI Energy's current full-year earnings is ($0.22) per share. Zacks Research also issued estimates for Patterson-UTI Energy's Q3 2026 earnings at ($0.07) EPS, FY2026 earnings at ($0.30) EPS, Q1 2027 earnings at ($0.12) EPS, Q2 2027 earnings at ($0.05) EPS, Q3 2027 earnings at ($0.05) EPS, Q4 2027 earnings at ($0.01) EPS, FY2027 earnings at ($0.23) EPS, Q1 2028 earnings at $0.04 EPS and FY2028 earnings at $0.02 EPS.
A number of other analysts have also weighed in on the company. Susquehanna upped their price objective on Patterson-UTI Energy from $10.00 to $13.00 and gave the stock a "positive" rating in a research report on Tuesday, April 7th. Citigroup upped their price objective on Patterson-UTI Energy from $9.00 to $11.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 15th. Royal Bank Of Canada upped their price objective on Patterson-UTI Energy from $12.00 to $14.00 and gave the stock an "outperform" rating in a research report on Friday, April 24th. Capital One Financial raised Patterson-UTI Energy from an "equal weight" rating to an "overweight" rating and set a $12.00 price objective on the stock in a research report on Monday, April 20th. Finally, Bank of America reaffirmed a "buy" rating on shares of Patterson-UTI Energy in a research report on Monday, March 2nd. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $11.80.
Check Out Our Latest Report on PTEN
Patterson-UTI Energy Stock Down 1.5%
Shares of NASDAQ PTEN opened at $11.41 on Friday. The firm has a market cap of $4.33 billion, a price-to-earnings ratio of -36.81 and a beta of 0.64. The company has a quick ratio of 1.63, a current ratio of 1.84 and a debt-to-equity ratio of 0.39. Patterson-UTI Energy has a 52-week low of $5.10 and a 52-week high of $12.62. The business's 50 day moving average is $10.39 and its two-hundred day moving average is $7.99.
Patterson-UTI Energy (NASDAQ:PTEN - Get Free Report) last announced its earnings results on Wednesday, April 22nd. The oil and gas company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.10) by $0.04. The company 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%.The company's revenue was down 12.7% on a year-over-year basis.
Patterson-UTI Energy Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be paid a dividend of $0.10 per share. The ex-dividend date is Monday, June 1st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.5%. Patterson-UTI Energy's payout ratio is presently -129.03%.
Insider Buying and Selling
In related news, Director Cesar Jaime sold 10,000 shares of the business's stock in a transaction 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 transaction, the director owned 77,462 shares in the company, valued at approximately $952,007.98. The trade was a 11.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO William Andrew Hendricks, Jr. sold 250,000 shares of the business's stock in a transaction on Friday, May 1st. The stock was sold at an average price of $11.85, for a total transaction of $2,962,500.00. Following the transaction, the chief executive officer owned 2,823,103 shares of the company's stock, valued at approximately $33,453,770.55. The trade was a 8.14% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 808,949 shares of company stock worth $9,387,035. Corporate insiders own 2.20% of the company's stock.
Hedge Funds Weigh In On Patterson-UTI Energy
A number of institutional investors and hedge funds have recently modified their holdings of PTEN. Convergence Investment Partners LLC acquired a new position in Patterson-UTI Energy in the first quarter valued at $1,325,000. Dimensional Fund Advisors LP boosted its stake in Patterson-UTI Energy by 14.9% in the first quarter. Dimensional Fund Advisors LP now owns 21,211,576 shares of the oil and gas company's stock valued at $229,732,000 after acquiring an additional 2,745,872 shares in the last quarter. Assetmark Inc. boosted its stake in Patterson-UTI Energy by 8.1% in the first quarter. Assetmark Inc. now owns 23,797 shares of the oil and gas company's stock valued at $258,000 after acquiring an additional 1,786 shares in the last quarter. Independent Financial Group LLC acquired a new position in Patterson-UTI Energy in the first quarter valued at $408,000. Finally, Sanctuary Advisors LLC acquired a new position in Patterson-UTI Energy in the first quarter valued at $122,000. Institutional investors and hedge funds own 97.91% of the company's stock.
About Patterson-UTI Energy
(
Get Free Report)
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.
Recommended Stories
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.
Before you consider Patterson-UTI Energy, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Patterson-UTI Energy wasn't on the list.
While Patterson-UTI Energy currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering what the next stocks will be that hit it big, with solid fundamentals? Click the link to see which stocks MarketBeat analysts could become the next blockbuster growth stocks.
Get This Free Report
