Q2 Earnings Forecast for PTEN Issued By Zacks Research

Patterson-UTI Energy, Inc. (NASDAQ:PTEN) – Equities researchers at Zacks Research issued their Q2 2026 earnings estimates for Patterson-UTI Energy in a research report issued on Wednesday, July 22nd. Zacks Research analyst Team expects that the oil and gas company will post earnings of ($0.03) per share for the quarter. Zacks Research has a “Hold” rating on the stock. The consensus estimate for Patterson-UTI Energy’s current full-year earnings is ($0.06) per share. Zacks Research also issued estimates for Patterson-UTI Energy’s Q3 2026 earnings at $0.00 EPS, Q4 2026 earnings at ($0.01) EPS, FY2026 earnings at ($0.10) EPS, Q1 2027 earnings at ($0.06) EPS, Q2 2027 earnings at $0.02 EPS, Q3 2027 earnings at $0.01 EPS, Q4 2027 earnings at $0.05 EPS, FY2027 earnings at $0.02 EPS, Q2 2028 earnings at $0.05 EPS and FY2028 earnings at $0.27 EPS.

Several other research analysts also recently weighed in on the company. Citigroup reduced their target price on Patterson-UTI Energy from $11.00 to $10.50 and set a “neutral” rating for the company in a research note on Monday, June 29th. Capital One Financial raised shares of Patterson-UTI Energy from an “equal weight” rating to an “overweight” rating and set a $12.00 price target on the stock in a research note on Monday, April 20th. Barclays raised shares of Patterson-UTI Energy from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $10.00 to $15.00 in a report on Thursday, May 7th. Piper Sandler raised shares of Patterson-UTI Energy from a “neutral” rating to an “overweight” rating and set a $13.00 price objective on the stock in a report on Tuesday, July 14th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Patterson-UTI Energy in a research report on Tuesday, May 26th. Nine investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $12.15.

Patterson-UTI Energy Stock Performance

Shares of PTEN stock opened at $10.20 on Friday. The company has a current ratio of 1.84, a quick ratio of 1.63 and a debt-to-equity ratio of 0.39. Patterson-UTI Energy has a 12-month low of $5.10 and a 12-month high of $13.08. The business’s 50 day moving average is $10.61 and its two-hundred day moving average is $9.82. The company has a market capitalization of $3.87 billion, a P/E ratio of -32.90 and a beta of 0.62.

Patterson-UTI Energy (NASDAQ:PTEN) last posted its earnings results on Wednesday, April 22nd. The oil and gas company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.04. The firm had revenue of $1.12 billion for the quarter, compared to analysts’ expectations 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 for the quarter was down 12.7% compared to the same quarter last year.

Hedge Funds Weigh In On Patterson-UTI Energy

Several hedge funds and other institutional investors have recently modified their holdings of PTEN. Quarry LP grew its stake in Patterson-UTI Energy by 360.3% during the 3rd quarter. Quarry LP now owns 4,934 shares of the oil and gas company’s stock valued at $26,000 after acquiring an additional 3,862 shares in the last quarter. First Horizon Corp lifted its stake in Patterson-UTI Energy by 58.5% in the 4th quarter. First Horizon Corp now owns 5,554 shares of the oil and gas company’s stock worth $34,000 after purchasing an additional 2,049 shares in the last quarter. Rockefeller Capital Management L.P. boosted its holdings 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 worth $40,000 after purchasing an additional 4,299 shares during the last quarter. Torren Management LLC purchased a new stake in shares of Patterson-UTI Energy in the fourth quarter valued at approximately $44,000. Finally, EverSource Wealth Advisors LLC grew its position in shares of Patterson-UTI Energy by 494.6% in the second quarter. EverSource Wealth Advisors LLC now owns 8,621 shares of the oil and gas company’s stock valued at $51,000 after purchasing an additional 7,171 shares in the last quarter. 97.91% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Patterson-UTI Energy

In related news, CEO William Andrew Hendricks, Jr. sold 200,000 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $11.64, for a total transaction of $2,328,000.00. Following the completion of the sale, the chief executive officer directly owned 2,542,474 shares in the company, valued at approximately $29,594,397.36. The trade was a 7.29% 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 the SEC website. Also, Director Robert Wayne Drummond, Jr. sold 61,475 shares of the stock in a transaction on Monday, May 4th. The shares were sold at an average price of $12.02, for a total value of $738,929.50. Following the completion of the transaction, the director directly owned 1,128,773 shares of the company’s stock, valued at approximately $13,567,851.46. This represents a 5.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 1,007,844 shares of company stock valued at $11,922,302. Insiders own 2.20% of the company’s stock.

Patterson-UTI Energy News Roundup

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

Patterson-UTI Energy Company Profile

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.