Zacks Research Has Positive Outlook of PTEN FY2026 Earnings

Patterson-UTI Energy, Inc. (NASDAQ:PTEN) – Research analysts at Zacks Research raised their FY2026 earnings per share (EPS) estimates for Patterson-UTI Energy in a report issued on Thursday, September 10th. Zacks Research analyst Team now forecasts that the oil and gas company will post earnings of ($0.03) per share for the year, up from their prior estimate of ($0.05). Zacks Research has a “Hold” rating on the stock. The consensus estimate for Patterson-UTI Energy’s current full-year earnings is ($0.01) per share. Zacks Research also issued estimates for Patterson-UTI Energy’s Q1 2027 earnings at ($0.04) EPS and Q4 2027 earnings at $0.05 EPS.

A number of other analysts also recently issued reports on the stock. Citigroup increased their price target on shares of Patterson-UTI Energy from $10.50 to $13.50 and gave the stock a “neutral” rating in a report on Friday, September 4th. Barclays lifted their price objective on shares of Patterson-UTI Energy from $15.00 to $16.00 and gave the company an “overweight” rating in a report on Wednesday, August 5th. Stifel Nicolaus upped their price objective on shares of Patterson-UTI Energy from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Tuesday, June 16th. Susquehanna increased their target price on shares of Patterson-UTI Energy from $12.00 to $13.00 and gave the stock a “positive” rating in a research note on Monday, August 3rd. Finally, KeyCorp upgraded Patterson-UTI Energy to an “overweight” rating in a research report on Wednesday, May 27th. Nine analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $13.25.

Patterson-UTI Energy Price Performance

NASDAQ:PTEN opened at $12.42 on Monday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.75 and a quick ratio of 1.57. The firm has a market cap of $4.74 billion, a price-to-earnings ratio of -54.00 and a beta of 0.66. The company has a 50 day moving average price of $11.05 and a 200-day moving average price of $10.82. Patterson-UTI Energy has a 1-year low of $5.10 and a 1-year high of $13.39.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of PTEN. Sequoia Financial Advisors LLC boosted its holdings in Patterson-UTI Energy by 107.2% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 22,147 shares of the oil and gas company’s stock worth $203,000 after buying an additional 11,458 shares during the last quarter. Tidal Investments LLC raised its holdings in shares of Patterson-UTI Energy by 11.5% during the second quarter. Tidal Investments LLC now owns 166,271 shares of the oil and gas company’s stock valued at $1,526,000 after acquiring an additional 17,189 shares during the last quarter. Engineers Gate Manager LP lifted its position in shares of Patterson-UTI Energy by 1,002.2% in the second quarter. Engineers Gate Manager LP now owns 461,819 shares of the oil and gas company’s stock valued at $4,239,000 after acquiring an additional 419,919 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new position in shares of Patterson-UTI Energy in the second quarter valued at approximately $96,000. Finally, Allworth Financial LP lifted its stake in shares of Patterson-UTI Energy by 172.4% in the second quarter. Allworth Financial LP now owns 7,417 shares of the oil and gas company’s stock worth $68,000 after buying an additional 4,694 shares in the last quarter. Institutional investors and hedge funds own 97.91% of the company’s stock.

Insider Activity at Patterson-UTI Energy

In other Patterson-UTI Energy news, CEO William Andrew Hendricks, Jr. sold 250,000 shares of the stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $12.93, for a total transaction of $3,232,500.00. Following the transaction, the chief executive officer directly owned 2,292,474 shares of the company’s stock, valued at $29,641,688.82. This trade represents a 9.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Seth Wexler sold 120,000 shares of the stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $12.75, for a total transaction of $1,530,000.00. Following the transaction, the executive vice president directly owned 404,582 shares in the company, valued at approximately $5,158,420.50. The trade was a 22.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 777,000 shares of company stock worth $9,721,280 in the last quarter. 2.20% of the stock is owned by insiders.

Patterson-UTI Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be paid a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $0.40 dividend on an annualized basis and a yield of 3.2%. Patterson-UTI Energy’s dividend payout ratio (DPR) is currently -173.91%.

About Patterson-UTI Energy

Patterson-UTI Energy, Inc (NASDAQ: PTEN) is an energy-services company that provides drilling, completion, and production-related services to oil and natural gas operators. Its operations support the development of unconventional and other onshore energy resources, primarily in North America.

The company’s offerings include contract land drilling, pressure pumping, well completion services, directional drilling, downhole tools, and related drilling technologies. Patterson-UTI also provides equipment, technical services, and other solutions used throughout the well-construction and completion process.

Patterson-UTI traces its history to the late 1970s and expanded its service platform through acquisitions and strategic combinations.