Patterson-UTI Energy (NASDAQ:PTEN) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

Patterson-UTI Energy (NASDAQ:PTEN) had its target price hoisted by Stifel Nicolaus from $11.00 to $14.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the oil and gas company’s stock. Stifel Nicolaus’ target price suggests a potential upside of 23.57% from the stock’s current price.

Other equities analysts have also issued reports about the company. Susquehanna boosted their target price on Patterson-UTI Energy from $10.00 to $13.00 and gave the stock a “positive” rating in a research report on Tuesday, April 7th. Capital One Financial upgraded Patterson-UTI Energy from an “equal weight” rating to an “overweight” rating and set a $12.00 target price for the company in a research report on Monday, April 20th. Citigroup boosted their target price on Patterson-UTI Energy from $9.00 to $11.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 15th. The Goldman Sachs Group boosted their target price on Patterson-UTI Energy from $9.00 to $11.00 and gave the stock a “buy” rating in a research report on Wednesday, April 15th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Patterson-UTI Energy in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $10.70.

Patterson-UTI Energy Price Performance

Shares of PTEN stock opened at $11.33 on Friday. The firm has a market cap of $4.30 billion, a price-to-earnings ratio of -36.55 and a beta of 0.57. Patterson-UTI Energy has a 12 month low of $5.10 and a 12 month high of $11.75. The stock has a 50-day moving average price of $9.88 and a 200 day moving average price of $7.67. The company has a quick ratio of 1.46, a current ratio of 1.84 and a debt-to-equity ratio of 0.39.

Patterson-UTI Energy (NASDAQ:PTEN) last posted its earnings results on Wednesday, April 22nd. The oil and gas company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.04. The company had revenue of $1.12 billion during the quarter, compared to analyst estimates 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 firm’s revenue was down 12.7% compared to the same quarter last year. Research analysts expect that Patterson-UTI Energy will post -0.31 EPS for the current year.

Insider Buying and Selling at Patterson-UTI Energy

In other news, Director Robert Wayne Drummond, Jr. sold 164,775 shares of Patterson-UTI Energy stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $10.18, for a total transaction of $1,677,409.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 2.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Patterson-UTI Energy

Several institutional investors have recently modified their holdings of PTEN. Sourcerock Group LLC lifted its holdings in shares of Patterson-UTI Energy by 109.2% during the 2nd quarter. Sourcerock Group LLC now owns 13,803,775 shares of the oil and gas company’s stock valued at $81,856,000 after purchasing an additional 7,205,652 shares in the last quarter. Holocene Advisors LP lifted its holdings in shares of Patterson-UTI Energy by 176.6% during the 3rd quarter. Holocene Advisors LP now owns 9,228,022 shares of the oil and gas company’s stock valued at $47,801,000 after purchasing an additional 5,891,956 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Patterson-UTI Energy by 110.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 10,559,219 shares of the oil and gas company’s stock valued at $64,517,000 after purchasing an additional 5,551,276 shares in the last quarter. UBS Group AG lifted its holdings in shares of Patterson-UTI Energy by 121.2% during the 4th quarter. UBS Group AG now owns 8,320,544 shares of the oil and gas company’s stock valued at $50,839,000 after purchasing an additional 4,558,445 shares in the last quarter. Finally, Millennium Management LLC lifted its holdings in shares of Patterson-UTI Energy by 97.7% during the 3rd quarter. Millennium Management LLC now owns 8,989,351 shares of the oil and gas company’s stock valued at $46,565,000 after purchasing an additional 4,442,700 shares in the last quarter. Institutional investors own 97.91% of the company’s stock.

Key Stories Impacting Patterson-UTI Energy

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

• Positive Sentiment: Q1 results beat estimates: PTEN reported a narrower-than-expected loss (‑$0.06 vs. consensus ‑$0.10) and revenue roughly $1.12B, driven by stronger Drilling and Completion segments — a near-term operational beat that supports sentiment. Patterson-UTI Energy Q1 Earnings & Revenues Beat Estimates
• Positive Sentiment: Analyst upgrades/price-target lifts: Royal Bank of Canada and Stifel Nicolaus raised PTEN’s target to $14 and assigned Outperform/Buy ratings, signaling ~23% upside vs. the current price and helping lift investor expectations. Benzinga coverage of upgrades
• Positive Sentiment: Dividend reinstated: PTEN announced a quarterly dividend of $0.10/share (record June 1; pay June 15), implying a roughly 3.6% yield — increases appeal for income-focused holders. (Company announcement)
• Neutral Sentiment: Earnings-call color: Management discussed an activity rebound and “disciplined” operational moves; read the call transcript and analyst highlights for guidance cadence and capex/contract commentary. PTEN Q1 2026 Earnings Call Transcript
• Neutral Sentiment: Sector context: Coverage comparing PTEN to peers (e.g., Bloom Energy) shows mixed relative performance this year — useful for positioning but not a direct company catalyst. Sector comparison
• Negative Sentiment: Underlying weakness remains: Revenue was down ~12.7% year-over-year and the company still reported a slight net loss and negative margins/ROE — fundamentals that could pressure valuation absent sustained demand improvement. Compared to Estimates: Key Metrics

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.