What is Zacks Research’s Forecast for PTEN Q2 Earnings?

Patterson-UTI Energy, Inc. (NASDAQ:PTEN) – Zacks Research issued their Q2 2028 earnings per share (EPS) estimates for Patterson-UTI Energy in a report released on Friday, June 26th. Zacks Research analyst Team anticipates that the oil and gas company will post earnings of $0.01 per share for the quarter. Zacks Research currently has a “Hold” rating on the stock. The consensus estimate for Patterson-UTI Energy’s current full-year earnings is ($0.14) per share.

Patterson-UTI Energy (NASDAQ:PTEN) last issued its earnings results on Wednesday, April 22nd. The oil and gas company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.04. The company had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.11 billion. Patterson-UTI Energy had a negative net margin of 2.56% and a negative return on equity of 2.32%. Patterson-UTI Energy’s revenue was down 12.7% on a year-over-year basis.

PTEN has been the topic of a number of other reports. Morgan Stanley increased their price objective on shares of Patterson-UTI Energy from $7.00 to $10.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 15th. Capital One Financial raised shares of Patterson-UTI Energy from an “equal weight” rating to an “overweight” rating and set a $12.00 price objective for the company in a research note on Monday, April 20th. Citigroup lowered their target price on Patterson-UTI Energy from $11.00 to $10.50 and set a “neutral” rating for the company in a report on Monday. Susquehanna raised their price objective on Patterson-UTI Energy from $13.00 to $14.00 and gave the company a “positive” rating in a research report on Wednesday, May 27th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Patterson-UTI Energy in a report on Tuesday, May 26th. Eight investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $12.35.

Patterson-UTI Energy Trading Down 6.6%

NASDAQ:PTEN opened at $8.57 on Thursday. Patterson-UTI Energy has a one year low of $5.10 and a one year high of $13.08. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.63 and a current ratio of 1.84. The firm has a market cap of $3.25 billion, a P/E ratio of -27.64 and a beta of 0.62. The firm has a 50-day simple moving average of $11.30 and a 200-day simple moving average of $9.41.

Patterson-UTI Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 4.7%. The ex-dividend date of this dividend was Monday, June 1st. Patterson-UTI Energy’s payout ratio is currently -129.03%.

Insider Activity at Patterson-UTI Energy

In other Patterson-UTI Energy news, Director Cesar Jaime sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $12.29, for a total transaction of $122,900.00. Following the transaction, the director owned 77,462 shares in the company, valued at approximately $952,007.98. This represents a 11.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Forrest C. Robinson sold 13,670 shares of the firm’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $12.01, for a total transaction of $164,176.70. Following the completion of the transaction, the chief accounting officer directly owned 56,842 shares of the company’s stock, valued at approximately $682,672.42. This represents a 19.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 1,007,844 shares of company stock worth $11,922,302 in the last 90 days. 2.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Patterson-UTI Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PTEN. Magnetar Financial LLC raised its holdings in shares of Patterson-UTI Energy by 728.4% during the third quarter. Magnetar Financial LLC now owns 280,919 shares of the oil and gas company’s stock worth $1,455,000 after purchasing an additional 247,010 shares during the last quarter. Tudor Investment Corp ET AL purchased a new stake in Patterson-UTI Energy in the third quarter valued at $2,206,000. SG Americas Securities LLC boosted its holdings in Patterson-UTI Energy by 141.3% in the fourth quarter. SG Americas Securities LLC now owns 183,804 shares of the oil and gas company’s stock valued at $1,123,000 after purchasing an additional 107,638 shares during the last quarter. Victory Capital Management Inc. grew its position in Patterson-UTI Energy by 4.9% during the 3rd quarter. Victory Capital Management Inc. now owns 2,312,232 shares of the oil and gas company’s stock worth $11,977,000 after purchasing an additional 108,600 shares during the period. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Patterson-UTI Energy during the 3rd quarter worth about $992,000. Hedge funds and other institutional investors own 97.91% of the company’s stock.

More Patterson-UTI Energy News

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

• Positive Sentiment: Zacks Research lifted its earnings estimates for Patterson-UTI Energy across several periods, including Q2, Q3 and Q4 2026, plus FY2026 and FY2027, suggesting slightly better operating expectations ahead.
• Positive Sentiment: A Seeking Alpha piece argued investors may want to keep holding PTEN as geopolitical risk around the Strait of Hormuz reopens, implying potential support from oil-market volatility. Article Title
• Neutral Sentiment: Citi reportedly kept a Neutral/Hold rating on Patterson-UTI Energy, indicating the bank does not see a strong near-term catalyst either way. Article Title
• Neutral Sentiment: Another report said Citi stuck with its Hold rating on PTEN, reinforcing a wait-and-see view from analysts. Article Title
• Negative Sentiment: Citi’s lower price target is the clearest bearish catalyst in the news flow and likely helping explain why PTEN is moving down today.
• Negative Sentiment: An article asking whether PTEN is a good stock to buy now reflects ongoing valuation and earnings concerns rather than a strong bullish thesis. Article Title

About Patterson-UTI Energy

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.