Zacks Research Issues Optimistic Outlook for PTEN Earnings

Patterson-UTI Energy, Inc. (NASDAQ:PTEN) – Investment analysts at Zacks Research upped their Q2 2026 earnings estimates for Patterson-UTI Energy in a research note issued to investors on Wednesday, May 6th. Zacks Research analyst Team now forecasts that the oil and gas company will earn ($0.08) per share for the quarter, up from their previous forecast of ($0.09). Zacks Research has a “Strong-Buy” rating on the stock. The consensus estimate for Patterson-UTI Energy’s current full-year earnings is ($0.22) per share. Zacks Research also issued estimates for Patterson-UTI Energy’s Q3 2026 earnings at ($0.07) EPS, FY2026 earnings at ($0.30) EPS, Q1 2027 earnings at ($0.12) EPS, Q2 2027 earnings at ($0.05) EPS, Q3 2027 earnings at ($0.05) EPS, Q4 2027 earnings at ($0.01) EPS, FY2027 earnings at ($0.23) EPS, Q1 2028 earnings at $0.04 EPS and FY2028 earnings at $0.02 EPS.

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

A number of other equities research analysts have also recently commented on PTEN. Capital One Financial raised shares of Patterson-UTI Energy from an “equal weight” rating to an “overweight” rating and set a $12.00 target price for the company in a report on Monday, April 20th. Royal Bank Of Canada upped their target price on shares of Patterson-UTI Energy from $12.00 to $14.00 and gave the company an “outperform” rating in a report on Friday, April 24th. Stifel Nicolaus upped their target price 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. Susquehanna upped their target price on shares of Patterson-UTI Energy from $10.00 to $13.00 and gave the company a “positive” rating in a report on Tuesday, April 7th. Finally, Piper Sandler upped their target price on shares of Patterson-UTI Energy from $10.00 to $12.00 and gave the company a “neutral” rating in a report on Monday, April 27th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $11.80.

Patterson-UTI Energy Stock Performance

NASDAQ PTEN opened at $11.41 on Friday. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.84 and a quick ratio of 1.63. Patterson-UTI Energy has a 1 year low of $5.10 and a 1 year high of $12.62. The company has a market capitalization of $4.33 billion, a PE ratio of -36.81 and a beta of 0.64. The company has a fifty day moving average of $10.39 and a two-hundred day moving average of $7.99.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in PTEN. Convergence Investment Partners LLC purchased a new position in Patterson-UTI Energy in the first quarter valued at about $1,325,000. Dimensional Fund Advisors LP increased its holdings in Patterson-UTI Energy by 14.9% in the first quarter. Dimensional Fund Advisors LP now owns 21,211,576 shares of the oil and gas company’s stock valued at $229,732,000 after buying an additional 2,745,872 shares in the last quarter. Assetmark Inc. increased its holdings in Patterson-UTI Energy by 8.1% in the first quarter. Assetmark Inc. now owns 23,797 shares of the oil and gas company’s stock valued at $258,000 after buying an additional 1,786 shares in the last quarter. Independent Financial Group LLC purchased a new position in Patterson-UTI Energy in the first quarter valued at about $408,000. Finally, Sanctuary Advisors LLC purchased a new position in Patterson-UTI Energy in the first quarter valued at about $122,000. 97.91% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Robert Wayne Drummond, Jr. sold 322,699 shares of the stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $12.04, for a total transaction of $3,885,295.96. Following the completion of the transaction, the director directly owned 1,190,248 shares of the company’s stock, valued at $14,330,585.92. This represents a 21.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Cesar Jaime sold 10,000 shares of the 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 transaction, the director directly owned 77,462 shares of the company’s stock, valued at $952,007.98. This represents a 11.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 808,949 shares of company stock valued at $9,387,035 over the last ninety days. Corporate insiders own 2.20% of the company’s stock.

Patterson-UTI Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be issued a dividend of $0.10 per share. 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 currently -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.