What is Zacks Research’s Estimate for PTEN Q3 Earnings?

Patterson-UTI Energy, Inc. (NASDAQ:PTEN) – Equities researchers at Zacks Research decreased their Q3 2026 earnings per share estimates for shares of Patterson-UTI Energy in a research note issued to investors on Thursday, May 29th. Zacks Research analyst N. Choudhury now anticipates that the oil and gas company will post earnings per share of $0.02 for the quarter, down from their previous estimate of $0.04. 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 FY2026 earnings at $0.04 EPS, Q1 2027 earnings at ($0.01) EPS and FY2027 earnings at $0.28 EPS.

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

Other research analysts have also issued reports about the company. Susquehanna cut their price objective on Patterson-UTI Energy from $10.00 to $9.00 and set a “positive” rating on the stock in a research report on Monday, April 14th. Barclays cut their price objective on Patterson-UTI Energy from $11.00 to $8.00 and set an “overweight” rating on the stock in a research report on Monday, April 28th. Morgan Stanley cut their price objective on Patterson-UTI Energy from $9.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Friday, May 16th. JPMorgan Chase & Co. cut their price objective on Patterson-UTI Energy from $9.00 to $7.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 28th. Finally, The Goldman Sachs Group cut their price objective on Patterson-UTI Energy from $11.00 to $8.00 and set a “neutral” rating on the stock in a research report on Thursday, April 10th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $9.58.

Patterson-UTI Energy Trading Down 0.2%

Shares of PTEN opened at $5.51 on Monday. 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 firm has a market capitalization of $2.13 billion, a P/E ratio of -2.23 and a beta of 1.33. The stock’s fifty day simple moving average is $6.13 and its 200 day simple moving average is $7.52. Patterson-UTI Energy has a twelve month low of $5.12 and a twelve month high of $11.27.

Patterson-UTI Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be paid 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 dividend yield of 5.81%. Patterson-UTI Energy’s dividend payout ratio is presently -12.31%.

Insider Activity

In related news, Director James Carl Stewart sold 48,149 shares of Patterson-UTI Energy stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $7.42, for a total value of $357,265.58. Following the completion of the transaction, the director now directly owns 85,475 shares in the company, valued at approximately $634,224.50. This trade represents a 36.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William Andrew Hendricks, Jr. purchased 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The stock was purchased 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 directly owns 2,482,592 shares of the company’s stock, valued at approximately $19,562,824.96. This represents a 1.02% increase in their position. The disclosure for this purchase can be found here. Insiders own 2.40% of the company’s stock.

Hedge Funds Weigh In On Patterson-UTI Energy

A number of hedge funds have recently bought and sold shares of the company. Fuller & Thaler Asset Management Inc. grew its stake 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 purchasing an additional 7,989,877 shares in the last quarter. ARGA Investment Management LP raised its position in shares of Patterson-UTI Energy by 25.2% during the 1st quarter. ARGA Investment Management LP now owns 12,784,573 shares of the oil and gas company’s stock worth $105,089,000 after purchasing an additional 2,569,713 shares during the period. American Century Companies Inc. lifted its holdings in shares of Patterson-UTI Energy by 21.6% in the 1st quarter. American Century Companies Inc. now owns 11,717,431 shares of the oil and gas company’s stock worth $96,317,000 after purchasing an additional 2,080,960 shares during the last quarter. Van ECK Associates Corp boosted its position in Patterson-UTI Energy by 31.2% during the 4th 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 purchasing an additional 1,743,241 shares during the period. Finally, Norges Bank acquired a new position in Patterson-UTI Energy during the 4th quarter valued at approximately $52,817,000. 97.91% of the stock is currently owned by institutional investors and hedge funds.

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.