Zacks Research Issues Optimistic Outlook for PTEN Earnings

Patterson-UTI Energy, Inc. (NASDAQ:PTEN) – Zacks Research raised their Q4 2026 EPS estimates for Patterson-UTI Energy in a report issued on Thursday, September 10th. Zacks Research analyst Team now expects that the oil and gas company will post earnings per share of $0.00 for the quarter, up from their prior estimate of ($0.01). Zacks Research has a “Hold” rating on the stock. The consensus estimate for Patterson-UTI Energy’s current full-year earnings is ($0.02) per share. Zacks Research also issued estimates for Patterson-UTI Energy’s Q2 2027 earnings at $0.04 EPS, Q3 2027 earnings at $0.03 EPS, FY2027 earnings at $0.08 EPS, Q1 2028 earnings at $0.10 EPS, Q2 2028 earnings at $0.10 EPS and FY2028 earnings at $0.41 EPS.

Several other equities research analysts have also recently issued reports on PTEN. Stifel Nicolaus boosted their price target on Patterson-UTI Energy from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Tuesday, June 16th. The Goldman Sachs Group raised their price objective 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. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Patterson-UTI Energy in a report on Friday, August 21st. Royal Bank Of Canada upped their target price on Patterson-UTI Energy from $14.00 to $15.00 and gave the company an “outperform” rating in a research report on Friday, May 29th. Finally, Barclays raised their price target on Patterson-UTI Energy from $15.00 to $16.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 5th. Nine analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $13.25.

Patterson-UTI Energy Stock Performance

Shares of NASDAQ:PTEN opened at $12.90 on Friday. Patterson-UTI Energy has a 12-month low of $5.10 and a 12-month high of $13.39. The company’s 50 day moving average price is $10.89 and its two-hundred day moving average price is $10.76. The firm has a market cap of $4.92 billion, a PE ratio of -56.09 and a beta of 0.66. The company has a quick ratio of 1.57, a current ratio of 1.75 and a debt-to-equity ratio of 0.40.

Institutional Inflows and Outflows

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

Insiders Place Their Bets

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

Patterson-UTI Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 3.1%. The ex-dividend date is Tuesday, September 1st. Patterson-UTI Energy’s payout ratio is currently -173.91%.

Trending Headlines about Patterson-UTI Energy

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

• Positive Sentiment: Zacks Research raised multiple earnings estimates. The firm increased its FY2027 EPS forecast from $0.04 to $0.08 and its FY2028 estimate from $0.38 to $0.41. It also lifted estimates for Q4 2026, Q2 and Q3 2027, and Q1 and Q2 2028. The revisions suggest analysts expect improving profitability as Patterson-UTI’s drilling and completion businesses recover.
• Positive Sentiment: August drilling activity remained substantial. Patterson-UTI averaged 101 revenue-earning U.S. rigs in August and 100 rigs during the two months ended August 31. Consistent rig activity supports revenue generation and could provide operating leverage if utilization and pricing improve. Patterson-UTI Averaged 101 August Rigs
• Neutral Sentiment: The analyst rating remains “Hold.” Despite the higher forward estimates, Zacks still rates PTEN as a Hold. The company is expected to post a current-year loss of approximately $0.02 per share, while the revised FY2027 and FY2028 forecasts point to a gradual return to profitability rather than an immediate earnings rebound.
• Neutral Sentiment: Rig-count data does not confirm margin improvement. The August activity update did not provide day rates, contract duration, utilization by rig class, or margins, leaving uncertainty about how effectively the fleet is converting activity into profits. Patterson-UTI Highlights Q3 Rig Activity and Fleet Strategy

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.