Zacks Research Brokers Lift Earnings Estimates for PTEN

Patterson-UTI Energy, Inc. (NASDAQ:PTEN) – Investment analysts at Zacks Research lifted their Q1 2028 earnings estimates for shares of Patterson-UTI Energy in a note issued to investors on Wednesday, July 22nd. Zacks Research analyst Team now forecasts that the oil and gas company will earn $0.09 per share for the quarter, up from their prior forecast of $0.06. 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.

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

PTEN has been the subject of a number of other reports. Capital One Financial raised shares of Patterson-UTI Energy from an “equal weight” rating to an “overweight” rating and set a $12.00 price objective for the company in a research report on Monday, April 20th. Stifel Nicolaus lifted their target price on shares of Patterson-UTI Energy from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Tuesday, June 16th. Barclays upgraded Patterson-UTI Energy from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $10.00 to $15.00 in a research note on Thursday, May 7th. Royal Bank Of Canada increased their price target 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. Finally, KeyCorp upgraded Patterson-UTI Energy to an “overweight” rating in a report on Wednesday, May 27th. Nine 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 company has an average rating of “Hold” and a consensus target price of $12.15.

Patterson-UTI Energy Stock Down 1.4%

PTEN opened at $10.20 on Thursday. Patterson-UTI Energy has a fifty-two week low of $5.10 and a fifty-two week high of $13.08. The firm has a market capitalization of $3.87 billion, a P/E ratio of -32.90 and a beta of 0.62. The company’s 50-day moving average is $10.61 and its 200 day moving average is $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.

Insider Buying and Selling at Patterson-UTI Energy

In other Patterson-UTI Energy news, CAO Forrest C. Robinson sold 13,670 shares of Patterson-UTI Energy stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $12.01, for a total value of $164,176.70. Following the sale, the chief accounting officer owned 56,842 shares of the company’s stock, valued at approximately $682,672.42. The trade was a 19.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO James Michael Holcomb sold 150,000 shares of the business’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $11.47, for a total transaction of $1,720,500.00. Following the completion of the transaction, the chief operating officer owned 421,523 shares in the company, valued at approximately $4,834,868.81. The trade was a 26.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,007,844 shares of company stock valued at $11,922,302 in the last three months. 2.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Patterson-UTI Energy

Several institutional investors have recently bought and sold shares of PTEN. Quarry LP increased its position in Patterson-UTI Energy by 360.3% in the third quarter. Quarry LP now owns 4,934 shares of the oil and gas company’s stock worth $26,000 after buying an additional 3,862 shares during the last quarter. First Horizon Corp raised its stake in shares of Patterson-UTI Energy by 58.5% in the fourth quarter. First Horizon Corp now owns 5,554 shares of the oil and gas company’s stock valued at $34,000 after buying an additional 2,049 shares during the period. Rockefeller Capital Management L.P. lifted its position in shares of Patterson-UTI Energy by 187.6% during the 4th quarter. Rockefeller Capital Management L.P. now owns 6,591 shares of the oil and gas company’s stock valued at $40,000 after buying an additional 4,299 shares during the last quarter. Torren Management LLC purchased a new position in shares of Patterson-UTI Energy during the 4th quarter valued at $44,000. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Patterson-UTI Energy by 494.6% during 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 period. Hedge funds and other institutional investors own 97.91% of the company’s stock.

Patterson-UTI Energy News Summary

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.