Analysts Issue Forecasts for PTEN FY2028 Earnings

Patterson-UTI Energy, Inc. (NASDAQ:PTEN) – Zacks Research issued their FY2028 EPS estimates for shares of Patterson-UTI Energy in a research report issued on Wednesday, February 18th. Zacks Research analyst Team forecasts that the oil and gas company will post earnings of ($0.14) per share for the year. The consensus estimate for Patterson-UTI Energy’s current full-year earnings is ($0.10) per share.

A number of other research firms also recently issued reports on PTEN. Stifel Nicolaus raised their price target on Patterson-UTI Energy from $9.00 to $11.00 and gave the stock a “buy” rating in a research note on Friday, February 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Patterson-UTI Energy in a research report on Monday, December 29th. JPMorgan Chase & Co. reissued an “underweight” rating and set a $6.00 price objective (down from $7.00) on shares of Patterson-UTI Energy in a research report on Wednesday, December 10th. Wall Street Zen upgraded shares of Patterson-UTI Energy from a “sell” rating to a “hold” rating in a research note on Saturday, October 25th. Finally, Royal Bank Of Canada increased their target price on shares of Patterson-UTI Energy from $8.00 to $9.00 and gave the stock an “outperform” rating in a research note on Friday, February 6th. Three equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Patterson-UTI Energy presently has an average rating of “Hold” and a consensus target price of $8.00.

Patterson-UTI Energy Stock Performance

Shares of PTEN stock opened at $8.17 on Thursday. The stock’s 50-day moving average is $7.02 and its two-hundred day moving average is $6.21. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.46 and a current ratio of 1.64. Patterson-UTI Energy has a 1 year low of $5.10 and a 1 year high of $9.19. The firm has a market cap of $3.10 billion, a price-to-earnings ratio of -32.68 and a beta of 0.76.

Patterson-UTI Energy (NASDAQ:PTEN) last announced its quarterly earnings results on Wednesday, February 4th. The oil and gas company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.09. Patterson-UTI Energy had a negative net margin of 1.94% and a negative return on equity of 1.50%. The firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same period last year, the business earned ($0.13) EPS. Patterson-UTI Energy’s revenue for the quarter was down 1.0% compared to the same quarter last year.

Hedge Funds Weigh In On Patterson-UTI Energy

Large investors have recently made changes to their positions in the stock. Sourcerock Group LLC increased its holdings in Patterson-UTI Energy by 109.2% in the second quarter. Sourcerock Group LLC now owns 13,803,775 shares of the oil and gas company’s stock valued at $81,856,000 after buying an additional 7,205,652 shares in the last quarter. Holocene Advisors LP increased its stake in Patterson-UTI Energy by 176.6% in the 3rd quarter. Holocene Advisors LP now owns 9,228,022 shares of the oil and gas company’s stock valued at $47,801,000 after purchasing an additional 5,891,956 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in Patterson-UTI Energy by 110.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 10,559,219 shares of the oil and gas company’s stock worth $64,517,000 after purchasing an additional 5,551,276 shares in the last quarter. UBS Group AG grew its holdings in Patterson-UTI Energy by 121.2% in the fourth quarter. UBS Group AG now owns 8,320,544 shares of the oil and gas company’s stock valued at $50,839,000 after purchasing an additional 4,558,445 shares during the last quarter. Finally, Millennium Management LLC increased its position in shares of Patterson-UTI Energy by 97.7% in the third quarter. Millennium Management LLC now owns 8,989,351 shares of the oil and gas company’s stock valued at $46,565,000 after buying an additional 4,442,700 shares in the last quarter. Hedge funds and other institutional investors own 97.91% of the company’s stock.

Insider Activity at Patterson-UTI Energy

In other Patterson-UTI Energy news, Director James Carl Stewart sold 368,254 shares of the stock in a transaction on Thursday, December 18th. The stock was sold at an average price of $5.87, for a total value of $2,161,650.98. Following the completion of the transaction, the director owned 207,000 shares in the company, valued at approximately $1,215,090. This represents a 64.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.40% of the stock is owned by corporate insiders.

Patterson-UTI Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 2nd will be paid a dividend of $0.10 per share. This is a positive change from Patterson-UTI Energy’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 4.9%. Patterson-UTI Energy’s dividend payout ratio (DPR) is currently -128.00%.

Patterson-UTI Energy Company Profile

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.