Atb Cap Markets Has Bearish Forecast for PTEN Q2 Earnings

Patterson-UTI Energy, Inc. (NASDAQ:PTEN) – Equities researchers at Atb Cap Markets decreased their Q2 2026 earnings per share (EPS) estimates for shares of Patterson-UTI Energy in a report released on Monday, April 28th. Atb Cap Markets analyst W. Syed now expects that the oil and gas company will earn $0.01 per share for the quarter, down from their prior estimate of $0.05. The consensus estimate for Patterson-UTI Energy’s current full-year earnings is ($0.10) per share. Atb Cap Markets also issued estimates for Patterson-UTI Energy’s Q3 2026 earnings at $0.03 EPS, Q4 2026 earnings at $0.00 EPS and Q1 2027 earnings at $0.02 EPS.

A number of other analysts have also recently issued reports on PTEN. Raymond James cut Patterson-UTI Energy from a “strong-buy” rating to a “market perform” rating in a research note on Monday, January 6th. Susquehanna decreased their price target on shares of 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. Stifel Nicolaus decreased their price target on shares of Patterson-UTI Energy from $13.00 to $12.00 and set a “buy” rating for the company in a research note on Tuesday, April 15th. Barclays decreased their price target on shares of Patterson-UTI Energy from $11.00 to $8.00 and set an “overweight” rating for the company in a research note on Monday. Finally, Morgan Stanley decreased their price target 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. One investment analyst has rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Patterson-UTI Energy has a consensus rating of “Moderate Buy” and an average price target of $10.88.

Patterson-UTI Energy Price Performance

NASDAQ PTEN opened at $5.64 on Wednesday. The business has a 50 day simple moving average of $7.10 and a 200 day simple moving average of $7.87. Patterson-UTI Energy has a 52-week low of $5.12 and a 52-week high of $11.70. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.34 and a current ratio of 1.54. The stock has a market cap of $2.18 billion, a price-to-earnings ratio of -2.28 and a beta of 1.60.

Patterson-UTI Energy (NASDAQ:PTEN) last posted its earnings results on Wednesday, April 23rd. The oil and gas company reported $0.00 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $1.18 billion. During the same period in the prior year, the business earned $0.15 EPS. Patterson-UTI Energy’s revenue for the quarter was down 15.2% compared to the same quarter last year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Victory Capital Management Inc. grew its stake in Patterson-UTI Energy by 30.2% in the 4th quarter. Victory Capital Management Inc. now owns 1,146,750 shares of the oil and gas company’s stock valued at $9,472,000 after buying an additional 265,714 shares during the last quarter. Versor Investments LP grew its stake in Patterson-UTI Energy by 53.0% in the 4th quarter. Versor Investments LP now owns 175,900 shares of the oil and gas company’s stock valued at $1,453,000 after buying an additional 60,900 shares during the last quarter. Ieq Capital LLC grew its stake in Patterson-UTI Energy by 262.6% in the 4th quarter. Ieq Capital LLC now owns 43,618 shares of the oil and gas company’s stock valued at $360,000 after buying an additional 31,589 shares during the last quarter. Schroder Investment Management Group acquired a new position in Patterson-UTI Energy in the 4th quarter valued at about $511,000. Finally, Van ECK Associates Corp grew its stake in Patterson-UTI Energy by 31.2% in 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 buying an additional 1,743,241 shares during the last quarter. Institutional investors and hedge funds own 97.91% of the company’s stock.

Insider Activity

In other news, Director Robert Wayne Drummond, Jr. sold 230,000 shares of the 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 transaction, the director now directly owns 1,549,081 shares of the company’s stock, valued at $13,771,330.09. This represents a 12.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction of $357,265.58. Following the sale, the director now directly owns 85,475 shares of the company’s stock, valued at $634,224.50. The trade was a 36.03 % decrease in their position. The disclosure for this sale can be found here. 2.30% of the stock is currently owned by insiders.

Patterson-UTI Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 5.67%. The ex-dividend date is Monday, June 2nd. Patterson-UTI Energy’s payout ratio is presently -12.31%.

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.