Zacks Research Has Positive Estimate for PTEN Q1 Earnings

Patterson-UTI Energy, Inc. (NASDAQ:PTEN) – Equities research analysts at Zacks Research increased their Q1 2028 earnings estimates for Patterson-UTI Energy in a report released on Wednesday, July 22nd. Zacks Research analyst Team now expects that the oil and gas company will post earnings per share of $0.09 for the quarter, up from their previous forecast of $0.06. Zacks Research has a “Hold” rating on the stock. The consensus estimate for Patterson-UTI Energy’s current full-year earnings is ($0.08) per share.

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

Other research analysts have also issued reports about the company. Morgan Stanley boosted their price target on Patterson-UTI Energy from $7.00 to $10.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 15th. Barclays upgraded Patterson-UTI Energy from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $10.00 to $15.00 in a research note on Thursday, May 7th. Susquehanna reduced their target price on shares of Patterson-UTI Energy from $14.00 to $12.00 and set a “positive” rating for the company in a report on Wednesday, July 8th. Weiss Ratings reissued a “sell (d+)” rating on shares of Patterson-UTI Energy in a research report on Tuesday, May 26th. Finally, Piper Sandler upgraded shares of Patterson-UTI Energy from a “neutral” rating to an “overweight” rating and set a $13.00 price target on the stock in a report on Tuesday, July 14th. Nine investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Patterson-UTI Energy currently has an average rating of “Hold” and an average target price of $12.15.

Patterson-UTI Energy Stock Up 1.8%

Shares of NASDAQ PTEN opened at $10.72 on Thursday. Patterson-UTI Energy has a 12-month low of $5.10 and a 12-month high of $13.08. The stock’s fifty day simple moving average is $10.69 and its two-hundred day simple moving average is $9.79. The stock has a market capitalization of $4.07 billion, a PE ratio of -34.58 and a beta of 0.62. The company has a current ratio of 1.84, a quick ratio of 1.63 and a debt-to-equity ratio of 0.39.

Hedge Funds Weigh In On Patterson-UTI Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PTEN. Lazard Asset Management LLC raised its stake in shares of Patterson-UTI Energy by 6.2% during the 1st quarter. Lazard Asset Management LLC now owns 21,339 shares of the oil and gas company’s stock worth $231,000 after buying an additional 1,255 shares during the period. O Shaughnessy Asset Management LLC grew its stake in Patterson-UTI Energy by 11.4% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 13,901 shares of the oil and gas company’s stock valued at $85,000 after acquiring an additional 1,420 shares during the period. Aster Capital Management DIFC Ltd grew its stake in Patterson-UTI Energy by 21.6% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 8,717 shares of the oil and gas company’s stock valued at $53,000 after acquiring an additional 1,547 shares during the period. Sage Rhino Capital LLC increased its holdings in Patterson-UTI Energy by 6.6% in the 4th quarter. Sage Rhino Capital LLC now owns 25,371 shares of the oil and gas company’s stock worth $155,000 after acquiring an additional 1,575 shares in the last quarter. Finally, Assetmark Inc. increased its holdings in Patterson-UTI Energy by 8.1% in the 1st quarter. Assetmark Inc. now owns 23,797 shares of the oil and gas company’s stock worth $258,000 after acquiring an additional 1,786 shares in the last quarter. Hedge funds and other institutional investors own 97.91% of the company’s stock.

Insider Buying and Selling at Patterson-UTI Energy

In other news, Director Cesar Jaime sold 10,000 shares of Patterson-UTI Energy stock in a transaction on 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 sale, the director directly 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 filing with the SEC, which is accessible through the SEC website. Also, CEO William Andrew Hendricks, Jr. sold 250,000 shares of the business’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $11.85, for a total transaction of $2,962,500.00. Following the sale, the chief executive officer directly owned 2,823,103 shares in the company, valued at $33,453,770.55. This trade represents a 8.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,007,844 shares of company stock worth $11,922,302 in the last three months. 2.20% of the stock is owned by company insiders.

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.