What is Zacks Research’s Forecast for PTEN FY2028 Earnings?

Patterson-UTI Energy, Inc. (NASDAQ:PTEN) – Analysts at Zacks Research issued their FY2028 earnings per share estimates for Patterson-UTI Energy in a report issued on Wednesday, February 18th. Zacks Research analyst Team forecasts that the oil and gas company will earn ($0.14) per share for the year. The consensus estimate for Patterson-UTI Energy’s current full-year earnings is ($0.10) per share.

Several other brokerages have also recently commented on PTEN. Weiss Ratings reiterated a “sell (d-)” rating on shares of Patterson-UTI Energy in a research report on Monday, December 29th. Wall Street Zen raised shares of Patterson-UTI Energy from a “sell” rating to a “hold” rating in a research note on Saturday, October 25th. Stifel Nicolaus upped their price objective on Patterson-UTI Energy from $9.00 to $11.00 and gave the stock a “buy” rating in a research report on Friday, February 6th. Royal Bank Of Canada upped their target price on Patterson-UTI Energy from $8.00 to $9.00 and gave the stock an “outperform” rating in a report on Friday, February 6th. Finally, Piper Sandler raised their target price on shares of Patterson-UTI Energy from $7.00 to $9.00 and gave the company a “neutral” rating in a research note on Monday, February 9th. Three investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $8.00.

Patterson-UTI Energy Stock Up 4.0%

Shares of NASDAQ PTEN opened at $8.50 on Thursday. The firm has a market capitalization of $3.23 billion, a PE ratio of -34.00 and a beta of 0.76. The company has a current ratio of 1.64, a quick ratio of 1.46 and a debt-to-equity ratio of 0.38. Patterson-UTI Energy has a 1 year low of $5.10 and a 1 year high of $9.03. The firm’s 50-day moving average is $7.07 and its 200-day moving average is $6.22.

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

Institutional Trading of Patterson-UTI Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quarry LP increased its position 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 worth $26,000 after acquiring an additional 3,862 shares in the last quarter. First Horizon Corp boosted its holdings in Patterson-UTI Energy by 58.5% during the 4th quarter. First Horizon Corp now owns 5,554 shares of the oil and gas company’s stock worth $34,000 after acquiring an additional 2,049 shares during the last quarter. Versant Capital Management Inc grew its stake in shares of Patterson-UTI Energy by 127.3% in the 3rd quarter. Versant Capital Management Inc now owns 5,970 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 3,343 shares in the last quarter. Aster Capital Management DIFC Ltd purchased a new stake in shares of Patterson-UTI Energy in the third quarter valued at about $37,000. Finally, Torren Management LLC bought a new position in shares of Patterson-UTI Energy during the fourth quarter valued at about $44,000. 97.91% of the stock is owned by institutional investors.

Insider Buying and Selling at Patterson-UTI Energy

In other Patterson-UTI Energy news, Director James Carl Stewart sold 368,254 shares of the firm’s stock in a transaction on Thursday, December 18th. The shares were sold at an average price of $5.87, for a total value of $2,161,650.98. Following the completion of the sale, the director directly owned 207,000 shares in the company, valued at approximately $1,215,090. This trade represents a 64.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.40% of the stock is owned by corporate insiders.

Patterson-UTI Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 2nd will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 4.7%. The ex-dividend date is Monday, March 2nd. This is a positive change from Patterson-UTI Energy’s previous quarterly dividend of $0.08. Patterson-UTI Energy’s dividend payout ratio is currently -128.00%.

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.