Patterson-UTI Energy (NASDAQ:PTEN) Upgraded by Zacks Research to “Strong-Buy” Rating

Zacks Research upgraded shares of Patterson-UTI Energy (NASDAQ:PTEN) from a hold rating to a strong-buy rating in a research report released on Wednesday,Zacks.com reports.

PTEN has been the topic of several other reports. Royal Bank Of Canada lifted their price target on shares of Patterson-UTI Energy from $14.00 to $15.00 and gave the stock an “outperform” rating in a report on Friday, May 29th. The Goldman Sachs Group boosted their target price on Patterson-UTI Energy from $11.00 to $13.00 and gave the stock a “buy” rating in a research note on Thursday, June 4th. Barclays raised Patterson-UTI Energy from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $10.00 to $15.00 in a research report on Thursday, May 7th. Capital One Financial upgraded Patterson-UTI Energy from an “equal weight” rating to an “overweight” rating and set a $12.00 price target on the stock in a research note on Monday, April 20th. Finally, Citigroup cut their price objective on shares of Patterson-UTI Energy from $11.00 to $10.50 and set a “neutral” rating on the stock in a report on Monday, June 29th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Patterson-UTI Energy presently has an average rating of “Moderate Buy” and an average price target of $12.15.

Patterson-UTI Energy Stock Up 5.6%

Patterson-UTI Energy stock opened at $9.85 on Wednesday. The firm has a market cap of $3.74 billion, a P/E ratio of -42.83 and a beta of 0.62. 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 twelve month low of $5.10 and a twelve month high of $13.08. The business has a fifty day moving average of $10.37 and a two-hundred day moving average of $9.92.

Patterson-UTI Energy (NASDAQ:PTEN) last announced its earnings results on Wednesday, July 29th. The oil and gas company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.01). The firm had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.15 billion. Patterson-UTI Energy had a negative return on equity of 1.67% and a negative net margin of 1.92%.The business’s revenue for the quarter was up .7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.13) earnings per share. On average, analysts forecast that Patterson-UTI Energy will post -0.06 earnings per share for the current fiscal year.

Patterson-UTI Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 4.1%. The ex-dividend date is Tuesday, September 1st. Patterson-UTI Energy’s payout ratio is presently -129.03%.

Insider Activity

In related news, COO James Michael Holcomb sold 150,000 shares of the business’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $11.47, for a total transaction of $1,720,500.00. Following the completion of the transaction, the chief operating officer directly owned 421,523 shares in the company, valued at $4,834,868.81. The trade was a 26.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Forrest C. Robinson sold 13,670 shares of the stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $12.01, for a total value of $164,176.70. Following the sale, the chief accounting officer directly owned 56,842 shares in the company, valued at $682,672.42. This represents a 19.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 435,145 shares of company stock valued at $5,074,506 over the last quarter. Insiders own 2.20% of the company’s stock.

Institutional Trading of Patterson-UTI Energy

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Quarry LP raised its position in Patterson-UTI Energy by 360.3% during the third quarter. Quarry LP now owns 4,934 shares of the oil and gas company’s stock valued at $26,000 after acquiring an additional 3,862 shares in the last quarter. First Horizon Corp boosted its position in Patterson-UTI Energy by 58.5% in the 4th quarter. First Horizon Corp now owns 5,554 shares of the oil and gas company’s stock worth $34,000 after purchasing an additional 2,049 shares in the last quarter. Rockefeller Capital Management L.P. grew its stake in shares of Patterson-UTI Energy by 187.6% during the 4th quarter. Rockefeller Capital Management L.P. now owns 6,591 shares of the oil and gas company’s stock worth $40,000 after purchasing an additional 4,299 shares during the period. Torren Management LLC acquired a new stake in shares of Patterson-UTI Energy during the 4th quarter worth approximately $44,000. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of Patterson-UTI Energy by 494.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 8,621 shares of the oil and gas company’s stock valued at $51,000 after purchasing an additional 7,171 shares in the last quarter. 97.91% of the stock is owned by institutional investors and hedge funds.

Patterson-UTI Energy News Summary

Here are the key news stories impacting Patterson-UTI Energy this week:

• Positive Sentiment: Second-quarter revenue totaled $1.23 billion, exceeding analysts’ estimate of $1.15 billion and increasing approximately 0.7% year over year. The sales outperformance is the primary reason for the stock’s advance. Patterson-UTI posts better-than-expected sales in Q2 CY2026
• Positive Sentiment: Reported earnings improved from a loss of $0.13 per share in the year-ago quarter to a loss of $0.05 per share. Some adjusted-earnings coverage characterized results as break-even, ahead of the consensus expectation for a $0.03 loss, suggesting better underlying performance than last year. Patterson-UTI reports break-even earnings for Q2
• Positive Sentiment: Patterson-UTI declared a quarterly dividend of $0.10 per share, payable September 15 to shareholders of record September 1. The dividend represents an annualized yield of roughly 4.2%, which may support income-focused investor interest.
• Neutral Sentiment: The company’s results were mixed across key metrics, with revenue well above expectations but profitability still pressured. Investors will likely look for details on drilling activity, pricing, margins and management’s outlook in the earnings materials and conference call. Patterson-UTI earnings conference call
• Negative Sentiment: GAAP EPS of negative $0.05 missed the consensus estimate of negative $0.04 by $0.01. Patterson-UTI also reported a negative net margin of 2.56% and negative return on equity of 2.32%, indicating that the business remains unprofitable despite the revenue beat. Patterson-UTI second-quarter earnings

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.