Zacks Research Issues Optimistic Estimate for PTEN Earnings

Patterson-UTI Energy, Inc. (NASDAQ:PTEN) – Equities researchers at Zacks Research increased their Q2 2026 earnings per share (EPS) estimates for shares of Patterson-UTI Energy in a note issued to investors on Wednesday, February 19th. Zacks Research analyst N. Choudhury now forecasts that the oil and gas company will post earnings of $0.04 per share for the quarter, up from their previous estimate 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.

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

Patterson-UTI Energy Price Performance

PTEN stock opened at $8.34 on Friday. The company has a current ratio of 1.54, a quick ratio of 1.34 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $3.22 billion, a PE ratio of -3.38 and a beta of 2.06. Patterson-UTI Energy has a 12-month low of $7.15 and a 12-month high of $12.65. The business’s fifty day moving average price is $8.46 and its 200 day moving average price is $8.36.

Institutional Trading of Patterson-UTI Energy

Several institutional investors and hedge funds have recently made changes to their positions in the company. WFA Asset Management Corp purchased a new stake in Patterson-UTI Energy during the 4th quarter valued at approximately $27,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Patterson-UTI Energy by 1,443.0% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,441 shares of the oil and gas company’s stock valued at $29,000 after acquiring an additional 3,218 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in Patterson-UTI Energy during the 4th quarter valued at approximately $39,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Patterson-UTI Energy during the 4th quarter valued at approximately $42,000. Finally, Smartleaf Asset Management LLC raised its stake in Patterson-UTI Energy by 43.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 5,660 shares of the oil and gas company’s stock valued at $46,000 after acquiring an additional 1,717 shares during the last quarter. 97.91% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Patterson-UTI Energy

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

Patterson-UTI Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.32 annualized dividend and a dividend yield of 3.84%. Patterson-UTI Energy’s dividend payout ratio is currently -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.