Equities Analysts Offer Predictions for PTEN Q4 Earnings

Patterson-UTI Energy, Inc. (NASDAQ:PTEN - Free Report) - Equities researchers at Capital One Financial dropped their Q4 2024 earnings per share estimates for Patterson-UTI Energy in a report released on Wednesday, November 20th. Capital One Financial analyst D. Becker now forecasts that the oil and gas company will post earnings of ($0.10) per share for the quarter, down from their previous estimate of ($0.04). The consensus estimate for Patterson-UTI Energy's current full-year earnings is $0.12 per share. Capital One Financial also issued estimates for Patterson-UTI Energy's Q1 2025 earnings at ($0.08) EPS, Q2 2025 earnings at ($0.04) EPS, Q3 2025 earnings at ($0.03) EPS, Q4 2025 earnings at ($0.06) EPS and FY2025 earnings at ($0.20) EPS.

Other analysts also recently issued research reports about the company. Morgan Stanley dropped their price objective on Patterson-UTI Energy from $12.00 to $10.00 and set an "equal weight" rating on the stock in a research note on Monday, September 16th. Royal Bank of Canada cut their price objective on shares of Patterson-UTI Energy from $12.00 to $11.00 and set an "outperform" rating on the stock in a research report on Friday, October 25th. StockNews.com downgraded shares of Patterson-UTI Energy from a "hold" rating to a "sell" rating in a research report on Saturday, October 12th. Stifel Nicolaus cut their price target on shares of Patterson-UTI Energy from $15.00 to $14.00 and set a "buy" rating on the stock in a report on Friday, October 11th. Finally, ATB Capital lowered their target price on shares of Patterson-UTI Energy from $12.00 to $11.00 and set an "outperform" rating on the stock in a research report on Wednesday, September 4th. One analyst has rated the stock with a sell rating, three have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Patterson-UTI Energy presently has an average rating of "Moderate Buy" and a consensus target price of $11.88.

Patterson-UTI Energy Stock Performance

Shares of NASDAQ PTEN traded up $0.33 during midday trading on Friday, reaching $8.69. 8,091,627 shares of the company traded hands, compared to its average volume of 7,199,787. The stock has a 50-day moving average price of $8.09 and a 200 day moving average price of $9.30. The company has a market cap of $3.39 billion, a price-to-earnings ratio of -3.82 and a beta of 2.12. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.52 and a quick ratio of 1.32. Patterson-UTI Energy has a 52 week low of $7.38 and a 52 week high of $12.65.

Patterson-UTI Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a dividend of $0.08 per share. The ex-dividend date is Monday, December 2nd. This represents a $0.32 annualized dividend and a dividend yield of 3.68%. Patterson-UTI Energy's dividend payout ratio (DPR) is presently -14.61%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. CANADA LIFE ASSURANCE Co increased its holdings in shares of Patterson-UTI Energy by 25.4% in the first quarter. CANADA LIFE ASSURANCE Co now owns 497,262 shares of the oil and gas company's stock valued at $5,931,000 after purchasing an additional 100,626 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Patterson-UTI Energy by 3.5% during the first quarter. Vanguard Group Inc. now owns 46,595,620 shares of the oil and gas company's stock worth $556,352,000 after acquiring an additional 1,554,020 shares during the last quarter. UniSuper Management Pty Ltd acquired a new position in shares of Patterson-UTI Energy during the first quarter valued at $990,000. Natixis bought a new position in Patterson-UTI Energy in the first quarter valued at about $617,000. Finally, Vaughan Nelson Investment Management L.P. increased its position in Patterson-UTI Energy by 6.4% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 3,261,662 shares of the oil and gas company's stock worth $33,791,000 after purchasing an additional 197,555 shares during the period. 97.91% of the stock is owned by institutional investors and hedge funds.

About Patterson-UTI Energy

Patterson-UTI Energy, Inc, through its subsidiaries, engages in the provision of contract drilling services to oil and natural gas operators in the United States and internationally. It operates through three segments: Drilling Services, Completion Services, and Drilling Products. The Contract Drilling Services segment provides contract and directional drilling services in onshore oil and natural gas basins, as well as engages in the service and re-certification of equipment for drilling contractors, and provision of electrical controls and automation to the energy, marine and mining industries.