Patterson-UTI Energy (NASDAQ:PTEN) Upgraded at Capital One Financial

Capital One Financial upgraded shares of Patterson-UTI Energy (NASDAQ:PTEN) from an equal weight rating to an overweight rating in a report issued on Monday, Marketbeat Ratings reports. The firm currently has $12.00 price target on the oil and gas company’s stock.

A number of other equities research analysts have also issued reports on PTEN. Royal Bank Of Canada raised their price target on Patterson-UTI Energy from $8.00 to $9.00 and gave the stock an “outperform” rating in a research note on Friday, February 6th. Piper Sandler upped their price target on shares of Patterson-UTI Energy from $9.00 to $10.00 and gave the stock a “neutral” rating in a report on Wednesday, April 15th. Morgan Stanley upped their price target on shares of Patterson-UTI Energy from $7.00 to $10.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 15th. Bank of America restated a “buy” rating on shares of Patterson-UTI Energy in a report on Monday, March 2nd. Finally, Zacks Research upgraded shares of Patterson-UTI Energy from a “hold” rating to a “strong-buy” rating in a report on Friday, April 10th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $9.90.

Patterson-UTI Energy Stock Performance

Shares of NASDAQ:PTEN opened at $10.81 on Monday. The company has a market capitalization of $4.10 billion, a price-to-earnings ratio of -43.24 and a beta of 0.57. Patterson-UTI Energy has a 12 month low of $5.10 and a 12 month high of $11.75. The firm’s 50-day moving average is $9.76 and its 200 day moving average is $7.60. The company has a current ratio of 1.64, a quick ratio of 1.46 and a debt-to-equity ratio of 0.38.

Patterson-UTI Energy (NASDAQ:PTEN) last issued its quarterly earnings results on Wednesday, April 22nd. The oil and gas company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.04. Patterson-UTI Energy had a negative return on equity of 1.50% and a negative net margin of 1.94%.The firm had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.11 billion. Patterson-UTI Energy’s quarterly revenue was down 12.7% compared to the same quarter last year. Research analysts predict that Patterson-UTI Energy will post -0.31 EPS for the current year.

Patterson-UTI Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 2nd were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 3.7%. The ex-dividend date was Monday, March 2nd. This is a positive change from Patterson-UTI Energy’s previous quarterly dividend of $0.08. Patterson-UTI Energy’s dividend payout ratio (DPR) is currently -160.00%.

Insider Transactions at Patterson-UTI Energy

In other Patterson-UTI Energy news, Director Robert Wayne Drummond, Jr. sold 164,775 shares of the stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $10.18, for a total transaction of $1,677,409.50. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Patterson-UTI Energy

A number of large investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP raised its stake in Patterson-UTI Energy by 8.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 18,465,704 shares of the oil and gas company’s stock worth $112,825,000 after buying an additional 1,465,102 shares in the last quarter. American Century Companies Inc. boosted its position in Patterson-UTI Energy by 7.9% during the third quarter. American Century Companies Inc. now owns 15,599,294 shares of the oil and gas company’s stock valued at $80,804,000 after purchasing an additional 1,135,704 shares in the last quarter. State Street Corp boosted its position in Patterson-UTI Energy by 0.5% during the fourth quarter. State Street Corp now owns 15,265,086 shares of the oil and gas company’s stock valued at $93,270,000 after purchasing an additional 75,560 shares in the last quarter. Sourcerock Group LLC boosted its position 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 valued at $81,856,000 after purchasing an additional 7,205,652 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in Patterson-UTI Energy by 110.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 10,559,219 shares of the oil and gas company’s stock valued at $64,517,000 after purchasing an additional 5,551,276 shares in the last quarter. Institutional investors own 97.91% of the company’s stock.

Key Headlines Impacting Patterson-UTI Energy

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

• Positive Sentiment: Q1 results beat expectations: PTEN reported EPS of ($0.06) vs. a consensus loss of ($0.10) and revenue that topped estimates — a surprise beat that helped calm near-term earnings concerns. Patterson-UTI (PTEN) Reports Q1 Loss, Beats Revenue Estimates
• Positive Sentiment: Analyst upgrade: Capital One raised PTEN to “Overweight,” prompting buying and a gap-up move ahead of the print. Analyst upgrades often drive short-term inflows and supported the rally. Capital One Financial Upgrades Patterson-UTI Energy (NASDAQ:PTEN) to “Overweight”
• Positive Sentiment: Pre-earnings momentum: Investors accumulated shares into the report, lifting the stock in the sessions ahead of results as energy-sector momentum and resilient-stock narratives attracted demand. Patterson-UTI (PTEN) Climbs 8% as Q1 Earnings Loom
• Neutral Sentiment: Sector tailwinds: Broad energy-stock momentum helped lift PTEN alongside peers, a macro factor that can amplify company-specific moves but doesn’t change underlying fundamentals. Energy Stock Momentum Ignites Broader Market Buzz
• Negative Sentiment: Underlying fundamentals remain soft: Revenue declined ~12.7% YoY and the company remains unprofitable on the quarter (negative net margin and negative ROE), with analysts still expecting a full‑year negative EPS — risks that could cap upside absent sustained profit recovery. Compared to Estimates, Patterson-UTI (PTEN) Q1 Earnings: A Look at Key Metrics
• Negative Sentiment: Macroeconomic/geo-risk watch: Commentary around geopolitical impacts on drilling demand was noted by market commentary — a reminder that commodity and activity risk can quickly reverse sentiment in the E&P services sector. Patterson-UTI (PTEN) Climbs 8% as Q1 Earnings Loom

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.