What is Zacks Research’s Forecast for PTEN Q2 Earnings?

Patterson-UTI Energy, Inc. (NASDAQ:PTEN) – Zacks Research issued their Q2 2026 earnings per share (EPS) estimates for Patterson-UTI Energy in a report issued on Wednesday, July 22nd. Zacks Research analyst Team expects that the oil and gas company will post earnings of ($0.03) per share for the quarter. Zacks Research currently has a “Hold” rating on the stock. The consensus estimate for Patterson-UTI Energy’s current full-year earnings is ($0.06) per share. Zacks Research also issued estimates for Patterson-UTI Energy’s Q3 2026 earnings at $0.00 EPS, Q4 2026 earnings at ($0.01) EPS, FY2026 earnings at ($0.10) EPS, Q1 2027 earnings at ($0.06) EPS, Q2 2027 earnings at $0.02 EPS, Q3 2027 earnings at $0.01 EPS, Q4 2027 earnings at $0.05 EPS, FY2027 earnings at $0.02 EPS, Q2 2028 earnings at $0.05 EPS and FY2028 earnings at $0.27 EPS.

A number of other equities research analysts have also commented on PTEN. Susquehanna decreased their price target on Patterson-UTI Energy from $14.00 to $12.00 and set a “positive” rating on the stock in a research report on Wednesday, July 8th. Royal Bank Of Canada lifted their price objective on Patterson-UTI Energy from $14.00 to $15.00 and gave the company an “outperform” rating in a research report on Friday, May 29th. Capital One Financial raised Patterson-UTI Energy from an “equal weight” rating to an “overweight” rating and set a $12.00 price objective on the stock in a research note on Monday, April 20th. Citigroup decreased their target price on Patterson-UTI Energy from $11.00 to $10.50 and set a “neutral” rating on the stock in a report on Monday, June 29th. Finally, The Goldman Sachs Group lifted their price target on Patterson-UTI Energy from $11.00 to $13.00 and gave the company a “buy” rating in a report on Thursday, June 4th. Nine equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $12.15.

Patterson-UTI Energy Stock Performance

Patterson-UTI Energy stock opened at $10.20 on Friday. Patterson-UTI Energy has a 12 month low of $5.10 and a 12 month high of $13.08. The company has a fifty day moving average price of $10.61 and a two-hundred day moving average price of $9.82. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.84 and a quick ratio of 1.63. The company has a market cap of $3.87 billion, a PE ratio of -32.90 and a beta of 0.62.

Patterson-UTI Energy (NASDAQ:PTEN) last issued its quarterly earnings data on Wednesday, April 22nd. The oil and gas company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.04. Patterson-UTI Energy had a negative return on equity of 2.32% and a negative net margin of 2.56%.The firm had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.11 billion. The business’s revenue for the quarter was down 12.7% on a year-over-year basis.

Insider Activity at Patterson-UTI Energy

In other news, CEO William Andrew Hendricks, Jr. sold 250,000 shares of the firm’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $11.85, for a total value of $2,962,500.00. Following the transaction, the chief executive officer owned 2,823,103 shares of the company’s stock, valued at approximately $33,453,770.55. This trade represents a 8.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert Wayne Drummond, Jr. sold 322,699 shares of Patterson-UTI Energy stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $12.04, for a total transaction of $3,885,295.96. Following the sale, the director owned 1,190,248 shares of the company’s stock, valued at approximately $14,330,585.92. This represents a 21.33% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 1,007,844 shares of company stock worth $11,922,302. Insiders own 2.20% of the company’s stock.

Institutional Trading of Patterson-UTI Energy

A number of institutional investors and hedge funds have recently modified their holdings of PTEN. Lazard Asset Management LLC boosted its stake in Patterson-UTI Energy by 6.2% in the 1st quarter. Lazard Asset Management LLC now owns 21,339 shares of the oil and gas company’s stock worth $231,000 after purchasing an additional 1,255 shares during the period. O Shaughnessy Asset Management LLC grew its stake in Patterson-UTI Energy by 11.4% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 13,901 shares of the oil and gas company’s stock valued at $85,000 after purchasing an additional 1,420 shares in the last quarter. Aster Capital Management DIFC Ltd increased its position in shares of Patterson-UTI Energy by 21.6% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 8,717 shares of the oil and gas company’s stock worth $53,000 after purchasing an additional 1,547 shares during the last quarter. Sage Rhino Capital LLC increased its position in shares of Patterson-UTI Energy by 6.6% during the 4th quarter. Sage Rhino Capital LLC now owns 25,371 shares of the oil and gas company’s stock worth $155,000 after purchasing an additional 1,575 shares during the last quarter. Finally, Assetmark Inc. raised its stake in shares of Patterson-UTI Energy by 8.1% during the 1st quarter. Assetmark Inc. now owns 23,797 shares of the oil and gas company’s stock worth $258,000 after purchasing an additional 1,786 shares in the last quarter. 97.91% of the stock is owned by institutional investors.

Patterson-UTI Energy News Roundup

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

• Positive Sentiment: Zacks Research raised several longer-term earnings forecasts for Patterson-UTI Energy, including FY2027, FY2028, and multiple 2027–2028 quarterly estimates, suggesting improving profitability expectations over time. PTEN analyst estimate updates
• Positive Sentiment: Analysts also lifted near-term estimates for Q3 2026, Q4 2026, Q1 2027, Q2 2027, Q3 2027 and Q4 2027, which may signal that cost controls and operating leverage are expected to help earnings recover. PTEN estimate revisions
• Neutral Sentiment: The company is set to report Q2 results on July 29, and current expectations call for a narrower loss as lower operating costs offset weaker revenue. PTEN earnings preview
• Negative Sentiment: Despite the estimate increases, Zacks still keeps a Hold rating, and near-term forecasts remain negative for FY2026 and the current full year, which may be limiting investor enthusiasm. PTEN hold rating and forecasts

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.