Q2 Earnings Forecast for PTEN Issued By Zacks Research

Patterson-UTI Energy, Inc. (NASDAQ:PTEN) – Analysts at Zacks Research issued their Q2 2026 earnings per share estimates for Patterson-UTI Energy in a report released on Wednesday, July 22nd. Zacks Research analyst Team expects that the oil and gas company will earn ($0.03) per share for the quarter. Zacks Research has a “Hold” rating on the stock. The consensus estimate for Patterson-UTI Energy’s current full-year earnings is ($0.06) per share. Zacks Research also issued estimates for Patterson-UTI Energy’s Q3 2026 earnings at $0.00 EPS, Q4 2026 earnings at ($0.01) EPS, FY2026 earnings at ($0.10) EPS, Q1 2027 earnings at ($0.06) EPS, Q2 2027 earnings at $0.02 EPS, Q3 2027 earnings at $0.01 EPS, Q4 2027 earnings at $0.05 EPS, FY2027 earnings at $0.02 EPS, Q2 2028 earnings at $0.05 EPS and FY2028 earnings at $0.27 EPS.

A number of other equities analysts have also commented on PTEN. KeyCorp raised Patterson-UTI Energy to an “overweight” rating in a research note on Wednesday, May 27th. Stifel Nicolaus raised their price target on shares of Patterson-UTI Energy from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Tuesday, June 16th. 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 on the stock in a research note on Monday, April 20th. Barclays raised shares of Patterson-UTI Energy from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $10.00 to $15.00 in a research note on Thursday, May 7th. Finally, Morgan Stanley boosted their target price on shares of Patterson-UTI Energy from $7.00 to $10.00 and gave the company an “equal weight” rating in a report on Wednesday, April 15th. Nine investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Patterson-UTI Energy currently has an average rating of “Hold” and an average price target of $12.15.

Patterson-UTI Energy Trading Down 3.5%

NASDAQ PTEN opened at $10.34 on Friday. The firm has a market capitalization of $3.93 billion, a PE ratio of -33.35 and a beta of 0.62. The business’s 50-day moving average price is $10.66 and its two-hundred day moving average price is $9.82. The company has a current ratio of 1.84, a quick ratio of 1.63 and a debt-to-equity ratio of 0.39. Patterson-UTI Energy has a 12 month low of $5.10 and a 12 month high of $13.08.

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

Insider Activity at Patterson-UTI Energy

In related news, Director Cesar Jaime sold 10,000 shares of the stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $12.29, for a total transaction of $122,900.00. Following the completion of 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William Andrew Hendricks, Jr. sold 200,000 shares of the firm’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $11.64, for a total transaction of $2,328,000.00. Following the sale, the chief executive officer owned 2,542,474 shares of the company’s stock, valued at $29,594,397.36. This trade represents a 7.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,007,844 shares of company stock valued at $11,922,302 in the last ninety days. Insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Patterson-UTI Energy

Several institutional investors and hedge funds have recently bought and sold shares of the company. Quarry LP lifted its holdings in Patterson-UTI Energy by 360.3% during the third quarter. Quarry LP now owns 4,934 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 3,862 shares during the last quarter. First Horizon Corp increased its stake in shares of Patterson-UTI Energy by 58.5% in the fourth quarter. First Horizon Corp now owns 5,554 shares of the oil and gas company’s stock worth $34,000 after purchasing an additional 2,049 shares in the last quarter. Rockefeller Capital Management L.P. lifted its stake in shares of Patterson-UTI Energy by 187.6% during the 4th quarter. Rockefeller Capital Management L.P. now owns 6,591 shares of the oil and gas company’s stock valued at $40,000 after buying an additional 4,299 shares in the last quarter. Torren Management LLC bought a new position in Patterson-UTI Energy in the 4th quarter worth approximately $44,000. Finally, EverSource Wealth Advisors LLC grew its stake in Patterson-UTI Energy by 494.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 8,621 shares of the oil and gas company’s stock valued at $51,000 after buying an additional 7,171 shares in the last quarter. 97.91% of the stock is owned by institutional investors.

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.