Q1 EPS Estimate for Patterson-UTI Energy Raised by Analyst

Patterson-UTI Energy, Inc. (NASDAQ:PTEN) – Stock analysts at Zacks Research raised their Q1 2027 earnings per share estimates for shares of Patterson-UTI Energy in a research note issued to investors on Monday, October 5th. Zacks Research analyst Team now forecasts that the oil and gas company will post earnings of ($0.02) per share for the quarter, up from their prior forecast of ($0.04). Zacks Research has a “Hold” rating on the stock. The consensus estimate for Patterson-UTI Energy’s current full-year earnings is ($0.01) per share. Zacks Research also issued estimates for Patterson-UTI Energy’s Q1 2028 earnings at $0.09 EPS.

A number of other brokerages also recently issued reports on PTEN. JPMorgan Chase & Co. raised shares of Patterson-UTI Energy from an “underweight” rating to a “neutral” rating and set a $12.00 price objective on the stock in a research report on Friday, July 31st. Citigroup cut their target price on shares of Patterson-UTI Energy from $13.50 to $12.50 and set a “neutral” rating on the stock in a research note on Friday, October 2nd. Stifel Nicolaus boosted their price target on shares of Patterson-UTI Energy from $14.00 to $15.00 and gave the company a “buy” rating in a research report on Tuesday, June 16th. Barclays increased their price target on shares of Patterson-UTI Energy from $15.00 to $16.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 5th. Finally, Susquehanna lifted their price objective on Patterson-UTI Energy from $12.00 to $13.00 and gave the company a “positive” rating in a research report on Monday, August 3rd. Nine research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $13.14.

Patterson-UTI Energy Trading Down 1.6%

NASDAQ PTEN opened at $11.23 on Wednesday. Patterson-UTI Energy has a fifty-two week low of $5.24 and a fifty-two week high of $13.39. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.57 and a current ratio of 1.75. The stock has a 50 day simple moving average of $11.59 and a two-hundred day simple moving average of $11.05. The stock has a market cap of $4.28 billion, a P/E ratio of -48.83 and a beta of 0.77.

Hedge Funds Weigh In On Patterson-UTI Energy

Several institutional investors and hedge funds have recently modified their holdings of PTEN. Engineers Gate Manager LP lifted its stake in Patterson-UTI Energy by 1,002.2% during the 2nd quarter. Engineers Gate Manager LP now owns 461,819 shares of the oil and gas company’s stock valued at $4,239,000 after acquiring an additional 419,919 shares during the period. Convergence Investment Partners LLC bought a new stake in shares of Patterson-UTI Energy in the first quarter worth approximately $1,325,000. Quantinno Capital Management LP grew its stake in shares of Patterson-UTI Energy by 163.5% in the first quarter. Quantinno Capital Management LP now owns 503,916 shares of the oil and gas company’s stock worth $5,457,000 after acquiring an additional 312,680 shares during the period. The Manufacturers Life Insurance Company purchased a new position in shares of Patterson-UTI Energy during the second quarter valued at approximately $2,675,000. Finally, Gagnon Securities LLC lifted its position in Patterson-UTI Energy by 69.0% during the fourth quarter. Gagnon Securities LLC now owns 352,777 shares of the oil and gas company’s stock valued at $2,155,000 after purchasing an additional 144,080 shares during the period. 97.91% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Patterson-UTI Energy

In related news, EVP Seth Wexler sold 120,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $12.75, for a total transaction of $1,530,000.00. Following the completion of the transaction, the executive vice president owned 404,582 shares of the company’s stock, valued at $5,158,420.50. This trade represents a 22.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert Wayne Drummond, Jr. sold 198,395 shares of Patterson-UTI Energy stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $12.85, for a total value of $2,549,375.75. Following the transaction, the director owned 928,773 shares of the company’s stock, valued at $11,934,733.05. The trade was a 17.60% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,027,000 shares of company stock valued at $12,698,780 over the last ninety days. Company insiders own 2.20% of the company’s stock.

Patterson-UTI Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Tuesday, September 1st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.6%. Patterson-UTI Energy’s dividend payout ratio (DPR) is currently -173.91%.

Patterson-UTI Energy News Roundup

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

• Positive Sentiment: Zacks Research increased its FY2027 EPS forecast to $0.12 from $0.08 and raised estimates for Q2 2027 and Q4 2027 to $0.05 and $0.06, respectively. These revisions suggest improved expectations for Patterson-UTI Energy’s earnings recovery. Zacks Research earnings estimates
• Neutral Sentiment: Patterson-UTI Energy will hold its third-quarter earnings conference call on October 29, giving investors a forthcoming update on drilling activity, operating conditions and management’s outlook. The announcement itself provided no new financial or operational results. Patterson-UTI Energy third-quarter earnings conference call announcement
• Negative Sentiment: Zacks Research lowered its Q1 2028 EPS estimate to $0.09 from $0.10. It also maintains a “Hold” rating, while the consensus forecast calls for a $0.01 loss per share for the current full year, limiting the positive impact from the higher 2027 projections. PTEN stock earnings forecast update

Patterson-UTI Energy Company Profile

Patterson-UTI Energy, Inc (NASDAQ: PTEN) is an energy services company that provides drilling and well-completion solutions to oil and natural gas exploration and production companies. Its operations support the development of unconventional and conventional wells, primarily in North America.

The company’s drilling services include contract land drilling, directional drilling, and related technologies designed to improve well placement, efficiency, and performance. Patterson-UTI also provides completion services, including pressure pumping, wireline, and other well-completion and production-support services.

Through its drilling products business, Patterson-UTI manufactures and distributes drilling equipment and downhole tools, including drill bits, drilling motors, and related products.