Patterson-UTI Energy, Inc. (NASDAQ:PTEN) Receives $11.30 Consensus Price Target from Brokerages

Patterson-UTI Energy, Inc. (NASDAQ:PTEN) has been given an average rating of “Moderate Buy” by the fourteen brokerages that are covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $11.80.

Several research analysts recently weighed in on PTEN shares. Citigroup lifted their price target on Patterson-UTI Energy from $9.00 to $11.00 and gave the company a “neutral” rating in a research report on Wednesday, April 15th. Barclays raised shares of Patterson-UTI Energy from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $10.00 to $15.00 in a research note on Thursday. Zacks Research upgraded shares of Patterson-UTI Energy from a “hold” rating to a “strong-buy” rating in a report on Friday, April 10th. Stifel Nicolaus boosted their price objective on shares of Patterson-UTI Energy from $11.00 to $14.00 and gave the company a “buy” rating in a report on Friday, April 24th. Finally, Piper Sandler raised their price target on Patterson-UTI Energy from $10.00 to $12.00 and gave the stock a “neutral” rating in a research report on Monday, April 27th.

Insider Transactions at Patterson-UTI Energy

In other news, Director Cesar Jaime sold 10,000 shares of Patterson-UTI Energy stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $12.29, for a total transaction of $122,900.00. Following the sale, the director owned 77,462 shares in the company, valued at approximately $952,007.98. The trade was a 11.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert Wayne Drummond, Jr. sold 61,475 shares of the firm’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $12.02, for a total transaction of $738,929.50. Following the transaction, the director owned 1,128,773 shares in the company, valued at approximately $13,567,851.46. This trade represents a 5.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 808,949 shares of company stock valued at $9,387,035. Corporate insiders own 2.20% of the company’s stock.

Institutional Trading of Patterson-UTI Energy

A number of hedge funds have recently added to or reduced their stakes in PTEN. Sourcerock Group LLC grew its holdings in Patterson-UTI Energy by 109.2% during the second quarter. Sourcerock Group LLC now owns 13,803,775 shares of the oil and gas company’s stock worth $81,856,000 after acquiring an additional 7,205,652 shares during the period. Holocene Advisors LP lifted its position in shares of Patterson-UTI Energy by 176.6% during the 3rd quarter. Holocene Advisors LP now owns 9,228,022 shares of the oil and gas company’s stock valued at $47,801,000 after acquiring an additional 5,891,956 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of Patterson-UTI Energy by 110.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 10,559,219 shares of the oil and gas company’s stock worth $64,517,000 after acquiring an additional 5,551,276 shares in the last quarter. UBS Group AG grew its holdings in shares of Patterson-UTI Energy by 121.2% in the 4th quarter. UBS Group AG now owns 8,320,544 shares of the oil and gas company’s stock worth $50,839,000 after acquiring an additional 4,558,445 shares during the period. Finally, Millennium Management LLC increased its position in shares of Patterson-UTI Energy by 97.7% in the third quarter. Millennium Management LLC now owns 8,989,351 shares of the oil and gas company’s stock valued at $46,565,000 after buying an additional 4,442,700 shares in the last quarter. 97.91% of the stock is owned by institutional investors and hedge funds.

Key Patterson-UTI Energy News

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

• Positive Sentiment: Zacks Research raised earnings estimates across multiple periods, including FY2026-FY2028, and now sees PTEN reaching positive EPS by FY2028. The firm also keeps a Strong-Buy rating, which is a bullish signal for investors. Zacks estimate revisions
• Positive Sentiment: Barclays upgraded Patterson-UTI Energy from equal weight to overweight and lifted its price target to $15, suggesting analysts see further upside from recent levels. Barclays upgrade
• Neutral Sentiment: PTEN reported April drilling activity of 88 average U.S. rigs operating. This indicates steady operations, but it is mostly a routine update and does not by itself change the earnings outlook. Drilling activity report
• Negative Sentiment: Director Cesar Jaime sold 10,000 shares on May 5, which can weigh on sentiment because insider selling sometimes raises questions about management confidence. SEC filing

Patterson-UTI Energy Stock Performance

Shares of Patterson-UTI Energy stock opened at $11.42 on Wednesday. The firm’s 50 day simple moving average is $10.39 and its two-hundred day simple moving average is $7.99. The firm has a market capitalization of $4.34 billion, a price-to-earnings ratio of -36.84 and a beta of 0.64. Patterson-UTI Energy has a 12-month low of $5.10 and a 12-month high of $12.62. 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 (NASDAQ:PTEN) last announced its quarterly earnings data 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 firm had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.11 billion. Patterson-UTI Energy had a negative return on equity of 2.32% and a negative net margin of 2.56%.Patterson-UTI Energy’s revenue was down 12.7% on a year-over-year basis. Analysts predict that Patterson-UTI Energy will post -0.21 EPS for the current year.

Patterson-UTI Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend is Monday, June 1st. Patterson-UTI Energy’s dividend payout ratio is -129.03%.

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.