PTEN Stock Earnings Estimates Increased by Zacks Research

Patterson-UTI Energy, Inc. (NASDAQ:PTEN) – Investment analysts at Zacks Research increased their Q1 2027 earnings estimates for shares of Patterson-UTI Energy in a report released on Monday, October 5th. Zacks Research analyst Team now expects that the oil and gas company will earn ($0.02) per share for the quarter, up from their prior forecast of ($0.04). 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 2028 earnings at $0.09 EPS.

A number of other research firms have also recently issued reports on PTEN. Citigroup reduced their price objective on Patterson-UTI Energy from $13.50 to $12.50 and set a “neutral” rating for the company in a research report on Friday, October 2nd. Susquehanna raised their price target on Patterson-UTI Energy from $12.00 to $13.00 and gave the stock a “positive” rating in a research note on Monday, August 3rd. UBS Group started coverage on Patterson-UTI Energy in a report on Friday, October 2nd. They set a “neutral” rating and a $13.00 price target for the company. Weiss Ratings reissued a “sell (d+)” rating on shares of Patterson-UTI Energy in a research note on Friday, August 21st. Finally, JPMorgan Chase & Co. upgraded Patterson-UTI Energy from an “underweight” rating to a “neutral” rating and set a $12.00 price objective on the stock in a report on Friday, July 31st. Nine research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $13.14.

Patterson-UTI Energy Trading Up 2.2%

Patterson-UTI Energy stock opened at $11.48 on Wednesday. Patterson-UTI Energy has a 12 month low of $5.24 and a 12 month high of $13.39. The company has a quick ratio of 1.57, a current ratio of 1.75 and a debt-to-equity ratio of 0.40. The stock has a market cap of $4.38 billion, a P/E ratio of -49.91 and a beta of 0.77. The company’s fifty day simple moving average is $11.62 and its 200-day simple moving average is $11.05.

Institutional Trading of Patterson-UTI Energy

Large investors have recently modified their holdings of the company. Lazard Asset Management LLC grew its holdings in shares of Patterson-UTI Energy by 6.2% during the first quarter. Lazard Asset Management LLC now owns 21,339 shares of the oil and gas company’s stock worth $231,000 after buying an additional 1,255 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in Patterson-UTI Energy by 39.7% in the third quarter. Farther Finance Advisors LLC now owns 6,096 shares of the oil and gas company’s stock valued at $67,000 after acquiring an additional 1,732 shares during the last quarter. Assetmark Inc. lifted its stake in Patterson-UTI Energy by 8.1% in the 1st quarter. Assetmark Inc. now owns 23,797 shares of the oil and gas company’s stock valued at $258,000 after purchasing an additional 1,786 shares during the last quarter. DGS Capital Management LLC boosted its stake in shares of Patterson-UTI Energy by 15.2% during the 1st quarter. DGS Capital Management LLC now owns 17,744 shares of the oil and gas company’s stock worth $192,000 after acquiring an additional 2,338 shares during the period. Finally, Gamco Investors INC. ET AL boosted its position in Patterson-UTI Energy by 5.0% during the first quarter. Gamco Investors INC. ET AL now owns 56,415 shares of the oil and gas company’s stock worth $611,000 after purchasing an additional 2,690 shares during the period. 97.91% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CEO William Andrew Hendricks, Jr. sold 250,000 shares of Patterson-UTI Energy stock in a transaction that occurred on Friday, September 18th. The shares were sold at an average price of $11.91, for a total value of $2,977,500.00. Following the transaction, the chief executive officer owned 2,042,474 shares of the company’s stock, valued at $24,325,865.34. This trade represents a 10.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Seth Wexler sold 120,000 shares of Patterson-UTI Energy stock in a transaction that occurred 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 completion of the transaction, the executive vice president directly owned 404,582 shares in the company, valued at approximately $5,158,420.50. This represents a 22.88% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,027,000 shares of company stock valued at $12,698,780 in the last quarter. Company insiders own 2.20% of the company’s stock.

Patterson-UTI Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend was Tuesday, September 1st. Patterson-UTI Energy’s dividend payout ratio (DPR) is presently -173.91%.

Patterson-UTI Energy Company Profile

Patterson-UTI Energy, Inc (NASDAQ: PTEN) is an energy services company that provides drilling and well-completion solutions to oil and natural gas exploration and production companies. Its operations support the development of unconventional and conventional wells, primarily in North America.

The company’s drilling services include contract land drilling, directional drilling, and related technologies designed to improve well placement, efficiency, and performance. Patterson-UTI also provides completion services, including pressure pumping, wireline, and other well-completion and production-support services.

Through its drilling products business, Patterson-UTI manufactures and distributes drilling equipment and downhole tools, including drill bits, drilling motors, and related products.