What is Zacks Research’s Estimate for PTEN FY2028 Earnings?

Patterson-UTI Energy, Inc. (NASDAQ:PTEN) – Equities researchers at Zacks Research issued their FY2028 earnings per share estimates for Patterson-UTI Energy in a note issued to investors on Wednesday, February 18th. Zacks Research analyst Team anticipates that the oil and gas company will earn ($0.14) per share for the year. The consensus estimate for Patterson-UTI Energy’s current full-year earnings is ($0.10) per share.

PTEN has been the subject of several other reports. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $6.00 target price (down from $7.00) on shares of Patterson-UTI Energy in a research note on Wednesday, December 10th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Patterson-UTI Energy in a research report on Monday, December 29th. Royal Bank Of Canada upped their price objective on Patterson-UTI Energy from $8.00 to $9.00 and gave the stock an “outperform” rating in a report on Friday, February 6th. Citigroup upped their price target on Patterson-UTI Energy from $7.00 to $9.00 and gave the stock a “neutral” rating in a research note on Monday, February 9th. Finally, Wall Street Zen upgraded Patterson-UTI Energy from a “sell” rating to a “hold” rating in a report on Saturday, October 25th. Three research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Patterson-UTI Energy currently has an average rating of “Hold” and an average price target of $8.00.

Patterson-UTI Energy Stock Performance

Shares of PTEN opened at $8.17 on Thursday. Patterson-UTI Energy has a 1 year low of $5.10 and a 1 year high of $9.19. The company’s 50 day simple moving average is $7.02 and its 200 day simple moving average is $6.21. The company has a market capitalization of $3.10 billion, a price-to-earnings ratio of -32.68 and a beta of 0.76. 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 (NASDAQ:PTEN) last posted its quarterly earnings data on Wednesday, February 4th. The oil and gas company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.09. Patterson-UTI Energy had a negative return on equity of 1.50% and a negative net margin of 1.94%.The firm had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter last year, the business posted ($0.13) EPS. The firm’s quarterly revenue was down 1.0% compared to the same quarter last year.

Patterson-UTI Energy Increases Dividend

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

Insider Buying and Selling at Patterson-UTI Energy

In related news, Director James Carl Stewart sold 368,254 shares of the firm’s stock in a transaction on Thursday, December 18th. The shares were sold at an average price of $5.87, for a total transaction of $2,161,650.98. Following the completion of the sale, the director directly owned 207,000 shares of the company’s stock, valued at approximately $1,215,090. This trade represents a 64.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Quarry LP increased its holdings in 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 worth $26,000 after purchasing an additional 3,862 shares during the last quarter. Versant Capital Management Inc increased its stake in shares of Patterson-UTI Energy by 127.3% in the third quarter. Versant Capital Management Inc now owns 5,970 shares of the oil and gas company’s stock worth $31,000 after buying an additional 3,343 shares during the last quarter. First Horizon Corp raised its holdings in Patterson-UTI Energy by 58.5% in the fourth quarter. First Horizon Corp now owns 5,554 shares of the oil and gas company’s stock valued at $34,000 after acquiring an additional 2,049 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new position in Patterson-UTI Energy during the 3rd quarter valued at $37,000. Finally, Torren Management LLC acquired a new position in Patterson-UTI Energy during the 4th quarter worth $44,000. Institutional investors and hedge funds 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.