Zacks Research Issues Optimistic Estimate for PTEN Earnings

Patterson-UTI Energy, Inc. (NASDAQ:PTEN) – Investment analysts at Zacks Research upped their Q2 2026 earnings estimates for Patterson-UTI Energy in a report released on Tuesday, March 17th. Zacks Research analyst Team now forecasts that the oil and gas company will post earnings of ($0.09) per share for the quarter, up from their prior forecast of ($0.10). 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 ($0.08) EPS, Q4 2026 earnings at ($0.09) EPS, FY2026 earnings at ($0.39) EPS, Q1 2027 earnings at ($0.13) EPS, Q3 2027 earnings at ($0.06) EPS, Q4 2027 earnings at ($0.02) EPS, FY2027 earnings at ($0.28) EPS and FY2028 earnings at ($0.12) EPS.

A number of other research analysts have also weighed in on the company. Piper Sandler increased their price target on Patterson-UTI Energy from $7.00 to $9.00 and gave the stock a “neutral” rating in a research note on Monday, February 9th. Citigroup lifted their price objective on Patterson-UTI Energy from $7.00 to $9.00 and gave the company a “neutral” rating in a research report on Monday, February 9th. Bank of America reiterated a “buy” rating on shares of Patterson-UTI Energy in a research report on Monday, March 2nd. Stifel Nicolaus raised their price target on Patterson-UTI Energy from $9.00 to $11.00 and gave the stock a “buy” rating in a research note on Friday, February 6th. Finally, The Goldman Sachs Group lifted their price target on Patterson-UTI Energy from $7.00 to $9.00 and gave the company a “buy” rating in a report on Wednesday, March 4th. Five investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $8.11.

Patterson-UTI Energy Stock Up 1.8%

PTEN stock opened at $10.91 on Thursday. The company has a 50 day moving average price of $8.40 and a two-hundred day moving average price of $6.78. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.46 and a current ratio of 1.64. The stock has a market capitalization of $4.14 billion, a P/E ratio of -43.66 and a beta of 0.71. Patterson-UTI Energy has a one year low of $5.10 and a one year high of $11.09.

Patterson-UTI Energy (NASDAQ:PTEN) last posted its quarterly earnings data on Wednesday, February 4th. The oil and gas company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.09. Patterson-UTI Energy had a negative net margin of 1.94% and a negative return on equity of 1.50%. The business had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.10 billion. During the same quarter in the previous year, the business posted ($0.13) earnings per share. The company’s revenue was down 1.0% on a year-over-year basis.

Institutional Investors Weigh In On Patterson-UTI Energy

A number of large investors have recently modified their holdings of PTEN. Hsbc Holdings PLC lifted its position in Patterson-UTI Energy by 16.9% during the 4th quarter. Hsbc Holdings PLC now owns 233,137 shares of the oil and gas company’s stock worth $1,418,000 after acquiring an additional 33,645 shares in the last quarter. Rockefeller Capital Management L.P. boosted its holdings in Patterson-UTI Energy by 187.6% in the 4th quarter. Rockefeller Capital Management L.P. now owns 6,591 shares of the oil and gas company’s stock worth $40,000 after acquiring an additional 4,299 shares during the period. Corient Private Wealth LLC grew its position in Patterson-UTI Energy by 50.2% in the fourth quarter. Corient Private Wealth LLC now owns 49,961 shares of the oil and gas company’s stock valued at $305,000 after acquiring an additional 16,709 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its stake in shares of Patterson-UTI Energy by 268,475.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 10,743 shares of the oil and gas company’s stock valued at $66,000 after purchasing an additional 10,739 shares during the period. Finally, Alpine Global Management LLC purchased a new stake in shares of Patterson-UTI Energy during the fourth quarter valued at approximately $188,000. Institutional investors and hedge funds own 97.91% of the company’s stock.

Insider Buying and Selling

In other Patterson-UTI Energy news, Director Robert Wayne Drummond, Jr. sold 164,775 shares of the firm’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $10.18, for a total value of $1,677,409.50. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 2.40% of the stock is owned by company insiders.

Patterson-UTI Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 2nd were issued a $0.10 dividend. The ex-dividend date was Monday, March 2nd. This represents a $0.40 annualized dividend and a yield of 3.7%. This is an increase from Patterson-UTI Energy’s previous quarterly dividend of $0.08. Patterson-UTI Energy’s payout ratio is currently -160.00%.

More Patterson-UTI Energy News

Here are the key news stories impacting Patterson-UTI Energy this week:

• Positive Sentiment: Zacks Research raised multiple quarterly and annual EPS estimates for PTEN, trimming expected losses (examples: FY2026 from ($0.40) to ($0.39); FY2027 from ($0.31) to ($0.28); FY2028 from ($0.14) to ($0.12)). The upgrades signal modestly improved near‑term profitability expectations and likely helped buying interest. MarketBeat: PTEN Research Note
• Positive Sentiment: Dividend increase: PTEN declared a higher quarterly payout (raised from $0.08 to $0.10), creating a ~3.7% yield on the current share price — this supports demand from income-focused investors and can underpin the stock. MarketBeat: Dividend Notice
• Neutral Sentiment: Institutional ownership is high (nearly 98%) with several large funds adjusting positions (Dimensional, American Century, State Street, Goldman Sachs noted as active). Heavy institutional ownership can reduce volatility but also concentrates supply if funds rebalance. MarketBeat: Institutional Holders
• Neutral Sentiment: Analyst coverage remains mixed: recent price-targets and ratings range from sell/underweight to buy/outperform. The consensus remains a “Hold” with an average target near $8, implying limited upside from some desks. MarketBeat: Analyst Summary
• Negative Sentiment: Insider selling: Director Robert Wayne Drummond Jr. sold 164,775 shares on March 16 (~$1.68M at ~$10.18/share). Large director sales can trigger negative headlines and add near‑term supply pressure even if for diversification or tax reasons. SEC Form 4: Insider Sale

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.