Q2 EPS Forecast for Patterson-UTI Energy Boosted by Analyst

Patterson-UTI Energy, Inc. (NASDAQ:PTEN) – Zacks Research lifted their Q2 2027 earnings per share estimates for shares of Patterson-UTI Energy in a report released on Wednesday, August 12th. Zacks Research analyst Team now forecasts that the oil and gas company will earn $0.03 per share for the quarter, up from their previous estimate of $0.02. Zacks Research currently has a “Strong-Buy” rating on the stock. The consensus estimate for Patterson-UTI Energy’s current full-year earnings is ($0.04) per share. Zacks Research also issued estimates for Patterson-UTI Energy’s FY2027 earnings at $0.04 EPS and Q2 2028 earnings at $0.09 EPS.

A number of other equities research analysts have also recently issued reports on the company. KeyCorp raised Patterson-UTI Energy to an “overweight” rating in a research report on Wednesday, May 27th. Weiss Ratings reissued a “sell (d+)” rating on shares of Patterson-UTI Energy in a research report on Tuesday, May 26th. Capital One Financial upgraded shares of Patterson-UTI Energy from an “equal weight” rating to an “overweight” rating and set a $12.00 price objective for the company in a research note on Monday, April 20th. Susquehanna upped their price objective on shares of Patterson-UTI Energy from $12.00 to $13.00 and gave the stock a “positive” rating in a report on Monday, August 3rd. Finally, The Goldman Sachs Group raised their target price on shares of Patterson-UTI Energy from $11.00 to $13.00 and gave the company a “buy” rating in a research note on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Patterson-UTI Energy presently has an average rating of “Moderate Buy” and a consensus price target of $12.95.

Patterson-UTI Energy Stock Down 0.4%

Shares of PTEN stock opened at $11.02 on Thursday. The stock’s 50 day simple moving average is $10.11 and its 200 day simple moving average is $10.12. Patterson-UTI Energy has a twelve month low of $5.10 and a twelve month high of $13.08. 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 company has a market capitalization of $4.20 billion, a price-to-earnings ratio of -47.91 and a beta of 0.63.

Patterson-UTI Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be paid a dividend of $0.10 per share. The ex-dividend date is Tuesday, September 1st. This represents a $0.40 annualized dividend and a yield of 3.6%. Patterson-UTI Energy’s dividend payout ratio is presently -173.91%.

Insider Buying and Selling at Patterson-UTI Energy

In other news, CEO William Andrew Hendricks, Jr. sold 200,000 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $11.64, for a total transaction of $2,328,000.00. Following the completion of the transaction, the chief executive officer directly owned 2,542,474 shares in the company, valued at $29,594,397.36. The trade was a 7.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO James Michael Holcomb sold 150,000 shares of the stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $11.47, for a total value of $1,720,500.00. Following the completion of the sale, the chief operating officer directly owned 421,523 shares of the company’s stock, valued at $4,834,868.81. This represents a 26.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 363,670 shares of company stock valued at $4,212,677 in the last 90 days. 2.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Patterson-UTI Energy

Several large investors have recently bought and sold shares of PTEN. BlackRock Inc. bought a new stake in Patterson-UTI Energy in the 2nd quarter valued at $577,234,000. Dimensional Fund Advisors LP increased its holdings in shares of Patterson-UTI Energy by 14.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 21,211,576 shares of the oil and gas company’s stock worth $229,732,000 after purchasing an additional 2,745,872 shares during the period. State Street Corp raised its position in shares of 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 buying an additional 75,560 shares during the last quarter. Sourcerock Group LLC raised its position in shares of 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 buying an additional 7,205,652 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Patterson-UTI Energy by 110.8% in 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 buying an additional 5,551,276 shares during the period. 97.91% of the stock is currently owned by institutional investors and hedge funds.

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.