Zacks Research Analysts Raise Earnings Estimates for PTEN

Patterson-UTI Energy, Inc. (NASDAQ:PTEN) – Equities research analysts at Zacks Research raised their Q2 2026 earnings per share estimates for shares of Patterson-UTI Energy in a research note issued on Wednesday, February 19th. Zacks Research analyst N. Choudhury now forecasts that the oil and gas company will post earnings per share of $0.04 for the quarter, up from their prior forecast of $0.02. The consensus estimate for Patterson-UTI Energy’s current full-year earnings is ($0.10) per share. Zacks Research also issued estimates for Patterson-UTI Energy’s Q3 2026 earnings at $0.06 EPS, Q4 2026 earnings at $0.05 EPS and FY2027 earnings at $0.58 EPS.

Several other research analysts also recently weighed in on PTEN. Royal Bank of Canada reduced their target price on Patterson-UTI Energy from $12.00 to $11.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Citigroup cut their price target on shares of Patterson-UTI Energy from $11.00 to $10.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Raymond James downgraded shares of Patterson-UTI Energy from a “strong-buy” rating to a “market perform” rating in a report on Monday, January 6th. The Goldman Sachs Group raised shares of Patterson-UTI Energy from a “neutral” rating to a “buy” rating and cut their target price for the stock from $11.00 to $10.00 in a research note on Friday, December 13th. Finally, Stifel Nicolaus reduced their price target on shares of Patterson-UTI Energy from $14.00 to $13.00 and set a “buy” rating for the company in a research report on Monday, January 6th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $11.63.

Patterson-UTI Energy Stock Performance

NASDAQ PTEN opened at $8.83 on Friday. The company has a quick ratio of 1.34, a current ratio of 1.54 and a debt-to-equity ratio of 0.35. Patterson-UTI Energy has a twelve month low of $7.15 and a twelve month high of $12.65. The stock has a 50-day moving average of $8.44 and a 200 day moving average of $8.37.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in PTEN. Atria Investments Inc increased its stake in Patterson-UTI Energy by 3.7% during the fourth quarter. Atria Investments Inc now owns 34,831 shares of the oil and gas company’s stock worth $288,000 after acquiring an additional 1,252 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in Patterson-UTI Energy by 31.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 5,678 shares of the oil and gas company’s stock valued at $47,000 after buying an additional 1,358 shares during the period. Avantax Advisory Services Inc. lifted its position in Patterson-UTI Energy by 10.1% in the fourth quarter. Avantax Advisory Services Inc. now owns 15,698 shares of the oil and gas company’s stock valued at $130,000 after buying an additional 1,436 shares during the last quarter. CIBC Asset Management Inc boosted its stake in Patterson-UTI Energy by 7.2% during the third quarter. CIBC Asset Management Inc now owns 22,336 shares of the oil and gas company’s stock worth $171,000 after buying an additional 1,501 shares during the period. Finally, Summit Investment Advisors Inc. increased its position in shares of Patterson-UTI Energy by 4.1% during the fourth quarter. Summit Investment Advisors Inc. now owns 40,711 shares of the oil and gas company’s stock valued at $336,000 after acquiring an additional 1,596 shares during the last quarter. 97.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Patterson-UTI Energy

In other Patterson-UTI Energy news, Director James Carl Stewart sold 80,000 shares of Patterson-UTI Energy stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $7.36, for a total transaction of $588,800.00. Following the transaction, the director now directly owns 32,438 shares of the company’s stock, valued at $238,743.68. The trade was a 71.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert Wayne Drummond, Jr. sold 230,000 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $8.89, for a total transaction of $2,044,700.00. Following the completion of the sale, the director now directly owns 1,549,081 shares of the company’s stock, valued at approximately $13,771,330.09. This trade represents a 12.93 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.30% of the company’s stock.

Patterson-UTI Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be given a $0.08 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.32 dividend on an annualized basis and a dividend yield of 3.62%. Patterson-UTI Energy’s dividend payout ratio (DPR) is presently -12.96%.

About Patterson-UTI Energy

Patterson-UTI Energy, Inc, through its subsidiaries, engages in the provision of contract drilling services to oil and natural gas operators in the United States and internationally. It operates through three segments: Drilling Services, Completion Services, and Drilling Products. The Contract Drilling Services segment provides contract and directional drilling services in onshore oil and natural gas basins, as well as engages in the service and re-certification of equipment for drilling contractors, and provision of electrical controls and automation to the energy, marine and mining industries.