Zacks Research Issues Negative Outlook for PTEN Earnings

Patterson-UTI Energy, Inc. (NASDAQ:PTEN) – Zacks Research reduced their Q1 2027 EPS estimates for shares of Patterson-UTI Energy in a research report issued to clients and investors on Wednesday, May 7th. Zacks Research analyst N. Choudhury now anticipates that the oil and gas company will post earnings per share of $0.03 for the quarter, down from their previous estimate of $0.07. The consensus estimate for Patterson-UTI Energy’s current full-year earnings is ($0.10) per share.

Patterson-UTI Energy (NASDAQ:PTEN) last released its quarterly earnings results on Wednesday, April 23rd. The oil and gas company reported $0.00 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.04. Patterson-UTI Energy had a positive return on equity of 0.81% and a negative net margin of 18.00%. The business had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter last year, the business posted $0.15 earnings per share. The company’s revenue for the quarter was down 15.2% on a year-over-year basis.

A number of other brokerages have also recently issued reports on PTEN. Morgan Stanley cut their price objective on shares of Patterson-UTI Energy from $10.00 to $9.00 and set an “equal weight” rating for the company in a research note on Thursday, March 27th. Barclays reduced their price objective on Patterson-UTI Energy from $11.00 to $8.00 and set an “overweight” rating on the stock in a research note on Monday, April 28th. Susquehanna lowered their target price on Patterson-UTI Energy from $10.00 to $9.00 and set a “positive” rating for the company in a research note on Monday, April 14th. The Goldman Sachs Group decreased their price target on Patterson-UTI Energy from $11.00 to $8.00 and set a “neutral” rating on the stock in a research note on Thursday, April 10th. Finally, Stifel Nicolaus cut their target price on shares of Patterson-UTI Energy from $13.00 to $12.00 and set a “buy” rating on the stock in a report on Tuesday, April 15th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $10.32.

Patterson-UTI Energy Stock Performance

Shares of NASDAQ PTEN opened at $5.99 on Friday. The stock has a market cap of $2.31 billion, a price-to-earnings ratio of -2.43 and a beta of 1.33. The stock’s 50-day moving average is $6.80 and its 200 day moving average is $7.77. The company has a current ratio of 1.54, a quick ratio of 1.34 and a debt-to-equity ratio of 0.35. Patterson-UTI Energy has a 1-year low of $5.12 and a 1-year high of $11.70.

Institutional Investors Weigh In On Patterson-UTI Energy

Hedge funds have recently added to or reduced their stakes in the stock. Pacer Advisors Inc. raised its position in shares of Patterson-UTI Energy by 10.6% in the 4th quarter. Pacer Advisors Inc. now owns 22,096,553 shares of the oil and gas company’s stock worth $182,518,000 after purchasing an additional 2,123,659 shares during the last quarter. Fuller & Thaler Asset Management Inc. raised its holdings in Patterson-UTI Energy by 89.1% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 16,954,738 shares of the oil and gas company’s stock worth $140,046,000 after buying an additional 7,989,877 shares during the last quarter. ARGA Investment Management LP lifted its stake in shares of Patterson-UTI Energy by 25.2% in the first quarter. ARGA Investment Management LP now owns 12,784,573 shares of the oil and gas company’s stock worth $105,089,000 after buying an additional 2,569,713 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Patterson-UTI Energy by 13.5% during the fourth quarter. American Century Companies Inc. now owns 9,636,471 shares of the oil and gas company’s stock valued at $79,597,000 after buying an additional 1,144,094 shares during the last quarter. Finally, Van ECK Associates Corp increased its position in shares of Patterson-UTI Energy by 31.2% during the fourth quarter. Van ECK Associates Corp now owns 7,321,667 shares of the oil and gas company’s stock valued at $60,477,000 after acquiring an additional 1,743,241 shares in the last quarter. 97.91% of the stock is owned by institutional investors.

Insider Buying and Selling at Patterson-UTI Energy

In other Patterson-UTI Energy news, CEO William Andrew Hendricks, Jr. bought 25,000 shares of the firm’s stock in a transaction on Wednesday, March 12th. The stock was acquired at an average price of $7.88 per share, with a total value of $197,000.00. Following the completion of the purchase, the chief executive officer now owns 2,482,592 shares of the company’s stock, valued at approximately $19,562,824.96. This trade represents a 1.02 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robert Wayne Drummond, Jr. sold 230,000 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The stock was 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 owns 1,549,081 shares in the company, valued at $13,771,330.09. The trade was 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.32 annualized dividend and a yield of 5.34%. Patterson-UTI Energy’s payout ratio is -12.31%.

Patterson-UTI Energy Company Profile

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.