Q2 EPS Estimate for Patterson-UTI Energy Raised by Analyst

Patterson-UTI Energy, Inc. (NASDAQ:PTEN - Free Report) - Research analysts at Zacks Research boosted their Q2 2026 earnings per share estimates for Patterson-UTI Energy in a research report issued on Wednesday, February 19th. Zacks Research analyst N. Choudhury now anticipates that the oil and gas company will earn $0.04 per share for the quarter, up from their prior estimate of $0.02. The consensus estimate for Patterson-UTI Energy's current full-year earnings is ($0.10) per share. Zacks Research also issued estimates for Patterson-UTI Energy's Q3 2026 earnings at $0.06 EPS, Q4 2026 earnings at $0.05 EPS and FY2027 earnings at $0.58 EPS.

PTEN has been the topic of a number of other reports. Citigroup cut their target price on shares of Patterson-UTI Energy from $11.00 to $10.00 and set a "buy" rating on the stock in a research note on Thursday, October 31st. Raymond James lowered shares of Patterson-UTI Energy from a "strong-buy" rating to a "market perform" rating in a report on Monday, January 6th. The Goldman Sachs Group upgraded shares of Patterson-UTI Energy from a "neutral" rating to a "buy" rating and lowered their target price for the stock from $11.00 to $10.00 in a research note on Friday, December 13th. Finally, Stifel Nicolaus cut their price target on Patterson-UTI Energy from $14.00 to $13.00 and set a "buy" rating on the stock in a research note on Monday, January 6th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $11.63.

Patterson-UTI Energy Stock Down 1.9 %

NASDAQ PTEN traded down $0.16 during trading hours on Friday, hitting $8.11. 9,257,949 shares of the company were exchanged, compared to its average volume of 9,040,112. The company has a quick ratio of 1.34, a current ratio of 1.54 and a debt-to-equity ratio of 0.35. The firm has a market cap of $3.13 billion, a price-to-earnings ratio of -3.28 and a beta of 2.07. The company has a 50 day moving average of $8.47 and a two-hundred day moving average of $8.35. Patterson-UTI Energy has a 52-week low of $7.15 and a 52-week high of $12.65.

Patterson-UTI Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 3.95%. The ex-dividend date is Monday, March 3rd. Patterson-UTI Energy's payout ratio is currently -12.96%.

Insider Activity

In other Patterson-UTI Energy news, Director Robert Wayne Drummond, Jr. sold 230,000 shares of the company's stock in a transaction on Friday, February 14th. The shares were sold at an average price of $8.89, for a total transaction of $2,044,700.00. Following the completion of the transaction, the director now owns 1,549,081 shares in the company, valued at approximately $13,771,330.09. This represents a 12.93 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James Carl Stewart sold 80,000 shares of Patterson-UTI Energy stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $7.36, for a total transaction of $588,800.00. Following the completion of the sale, the director now directly owns 32,438 shares in the company, valued at approximately $238,743.68. The trade was a 71.15 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.30% of the company's stock.

Institutional Investors Weigh In On Patterson-UTI Energy

Hedge funds have recently added to or reduced their stakes in the company. Mackenzie Financial Corp raised its stake in shares of Patterson-UTI Energy by 172.7% during the 4th quarter. Mackenzie Financial Corp now owns 69,366 shares of the oil and gas company's stock worth $573,000 after buying an additional 43,927 shares in the last quarter. Neo Ivy Capital Management acquired a new position in Patterson-UTI Energy during the fourth quarter worth $364,000. Vise Technologies Inc. raised its position in Patterson-UTI Energy by 93.6% in the fourth quarter. Vise Technologies Inc. now owns 43,315 shares of the oil and gas company's stock worth $358,000 after acquiring an additional 20,945 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Patterson-UTI Energy by 9.6% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 834,275 shares of the oil and gas company's stock valued at $6,891,000 after acquiring an additional 73,184 shares during the period. Finally, iSAM Funds UK Ltd purchased a new stake in shares of Patterson-UTI Energy during the 4th quarter worth $886,000. Institutional investors and hedge funds own 97.91% of the company's stock.

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.