Patterson-UTI Energy (PTEN) to Announce Quarterly Earnings on Wednesday

Patterson-UTI Energy (NASDAQ:PTEN) is anticipated to release its Q2 2026 results after the market closes on Wednesday, July 29th. Analysts expect the company to announce earnings of ($0.03) per share and revenue of $1.1548 billion for the quarter. Individuals can find conference call details on the company’s upcoming Q2 2026 earning report page for the latest details on the call scheduled for Thursday, July 30, 2026 at 10:00 AM ET.

Patterson-UTI Energy (NASDAQ:PTEN) last released its quarterly earnings results on Wednesday, April 22nd. The oil and gas company reported ($0.06) EPS for the quarter, topping the consensus estimate 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 company had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.11 billion. The company’s quarterly revenue was down 12.7% on a year-over-year basis. On average, analysts expect Patterson-UTI Energy to post $-0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Patterson-UTI Energy Trading Up 4.3%

Shares of PTEN stock opened at $10.53 on Wednesday. Patterson-UTI Energy has a 1 year low of $5.10 and a 1 year high of $13.08. 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 stock’s 50 day simple moving average is $10.72 and its two-hundred day simple moving average is $9.76. The company has a market cap of $4.00 billion, a PE ratio of -33.97 and a beta of 0.62.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on PTEN shares. KeyCorp upgraded Patterson-UTI Energy to an “overweight” rating in a report on Wednesday, May 27th. Royal Bank Of Canada boosted their target price 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. Barclays upgraded Patterson-UTI Energy from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $10.00 to $15.00 in a report on Thursday, May 7th. The Goldman Sachs Group boosted their target price on shares of Patterson-UTI Energy from $11.00 to $13.00 and gave the company a “buy” rating in a research note on Thursday, June 4th. Finally, Susquehanna cut their price target on shares of Patterson-UTI Energy from $14.00 to $12.00 and set a “positive” rating on the stock in a report on Wednesday, July 8th. Nine analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Patterson-UTI Energy has an average rating of “Hold” and an average price target of $12.15.

Insider Buying and Selling

In other news, CAO Forrest C. Robinson sold 13,670 shares of Patterson-UTI Energy stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $12.01, for a total value of $164,176.70. Following the transaction, the chief accounting officer owned 56,842 shares of the company’s stock, valued at $682,672.42. The trade was a 19.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Cesar Jaime sold 10,000 shares of Patterson-UTI Energy stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $12.29, for a total transaction of $122,900.00. Following the completion of the transaction, the director directly owned 77,462 shares in the company, valued at $952,007.98. This represents a 11.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 1,007,844 shares of company stock valued at $11,922,302 over the last three months. Corporate insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Patterson-UTI Energy

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Quarry LP grew its holdings in shares of Patterson-UTI Energy by 360.3% during the third quarter. Quarry LP now owns 4,934 shares of the oil and gas company’s stock valued at $26,000 after buying an additional 3,862 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in Patterson-UTI Energy by 494.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 8,621 shares of the oil and gas company’s stock worth $51,000 after acquiring an additional 7,171 shares during the last quarter. Aster Capital Management DIFC Ltd lifted its position in 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 acquiring an additional 1,547 shares during the period. Smartleaf Asset Management LLC lifted its position in Patterson-UTI Energy by 42.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 9,846 shares of the oil and gas company’s stock worth $60,000 after acquiring an additional 2,912 shares during the period. Finally, Qtron Investments LLC purchased a new stake in Patterson-UTI Energy during the 4th quarter valued at about $63,000. 97.91% of the stock is currently owned by institutional investors and hedge funds.

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.