Zacks Research Brokers Increase Earnings Estimates for PTEN

Patterson-UTI Energy, Inc. (NASDAQ:PTEN) – Stock analysts at Zacks Research increased their Q4 2027 earnings per share estimates for shares of Patterson-UTI Energy in a research report issued to clients and investors on Tuesday, June 2nd. Zacks Research analyst Team now forecasts that the oil and gas company will post earnings of $0.01 per share for the quarter, up from their prior estimate of ($0.01). Zacks Research has a “Strong-Buy” rating on the stock. The consensus estimate for Patterson-UTI Energy’s current full-year earnings is ($0.16) per share. Zacks Research also issued estimates for Patterson-UTI Energy’s Q1 2028 earnings at $0.05 EPS.

Patterson-UTI Energy (NASDAQ:PTEN) last announced its quarterly earnings results on Wednesday, April 22nd. The oil and gas company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.04. The company had revenue of $1.12 billion during 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 for the quarter was down 12.7% compared to the same quarter last year.

Several other analysts have also weighed in on PTEN. The Goldman Sachs Group upped their price objective on Patterson-UTI Energy from $9.00 to $11.00 and gave the company a “buy” rating in a report on Wednesday, April 15th. Barclays upgraded Patterson-UTI Energy from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $10.00 to $15.00 in a report on Thursday, May 7th. Citigroup boosted their target price 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. Morgan Stanley boosted their target price on Patterson-UTI Energy from $7.00 to $10.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 15th. Finally, Bank of America reaffirmed a “buy” rating on shares of Patterson-UTI Energy in a research report on Monday, March 2nd. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $12.10.

Patterson-UTI Energy Trading Up 1.7%

Shares of Patterson-UTI Energy stock opened at $11.73 on Wednesday. The company has a quick ratio of 1.63, a current ratio of 1.84 and a debt-to-equity ratio of 0.39. The firm has a market cap of $4.45 billion, a price-to-earnings ratio of -37.84 and a beta of 0.61. The business has a fifty day simple moving average of $11.26 and a 200-day simple moving average of $8.68. Patterson-UTI Energy has a fifty-two week low of $5.10 and a fifty-two week high of $13.08.

Patterson-UTI Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Monday, June 1st. Patterson-UTI Energy’s payout ratio is presently -129.03%.

Insiders Place Their Bets

In related news, Director Robert Wayne Drummond, Jr. sold 322,699 shares of the company’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $12.04, for a total transaction of $3,885,295.96. Following the transaction, the director directly owned 1,190,248 shares of the company’s stock, valued at approximately $14,330,585.92. The trade was a 21.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Cesar Jaime sold 10,000 shares of the business’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $12.29, for a total value of $122,900.00. Following the completion of the transaction, the director owned 77,462 shares in the company, valued at $952,007.98. This trade represents a 11.43% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 958,949 shares of company stock valued at $11,107,535 over the last ninety days. Corporate insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of PTEN. Sourcerock Group LLC grew its stake 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 purchasing an additional 7,205,652 shares in the last quarter. Holocene Advisors LP grew its stake in Patterson-UTI Energy by 176.6% in the third 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. grew its stake in Patterson-UTI Energy by 110.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 10,559,219 shares of the oil and gas company’s stock valued at $64,517,000 after purchasing an additional 5,551,276 shares in the last quarter. UBS Group AG grew its stake 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 in the last quarter. Finally, Millennium Management LLC grew its stake in 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 purchasing an additional 4,442,700 shares in the last quarter. Hedge funds and other institutional investors own 97.91% of the company’s stock.

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.