Zacks Research Brokers Boost Earnings Estimates for PTEN

Patterson-UTI Energy, Inc. (NASDAQ:PTEN) – Equities researchers at Zacks Research increased their Q1 2026 earnings per share (EPS) estimates for shares of Patterson-UTI Energy in a research note issued to investors on Wednesday, February 18th. Zacks Research analyst Team now anticipates that the oil and gas company will earn ($0.12) per share for the quarter, up from their prior forecast of ($0.14). The consensus estimate for Patterson-UTI Energy’s current full-year earnings is ($0.10) per share. Zacks Research also issued estimates for Patterson-UTI Energy’s Q2 2026 earnings at ($0.10) EPS, Q3 2026 earnings at ($0.09) EPS, Q4 2026 earnings at ($0.10) EPS, FY2026 earnings at ($0.40) EPS, Q1 2027 earnings at ($0.14) EPS, Q2 2027 earnings at ($0.07) EPS, Q3 2027 earnings at ($0.07) EPS, Q4 2027 earnings at ($0.03) EPS and FY2027 earnings at ($0.31) EPS.

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

Patterson-UTI Energy Price Performance

Shares of PTEN opened at $8.41 on Friday. The stock has a market cap of $3.19 billion, a P/E ratio of -33.64 and a beta of 0.76. Patterson-UTI Energy has a 1 year low of $5.10 and a 1 year high of $8.90. The stock’s 50-day moving average price is $7.11 and its two-hundred day moving average price is $6.24. 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 (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 business had revenue of $1.15 billion during the quarter, compared to analysts’ expectations 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 firm’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.13) earnings per share.

Patterson-UTI Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 2nd will be given a $0.10 dividend. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $0.40 annualized dividend and a yield of 4.8%. This is an increase from Patterson-UTI Energy’s previous quarterly dividend of $0.08. Patterson-UTI Energy’s payout ratio is presently -128.00%.

Insiders Place Their Bets

In other Patterson-UTI Energy news, Director James Carl Stewart sold 368,254 shares of the stock in a transaction dated Thursday, December 18th. The stock was sold at an average price of $5.87, for a total transaction of $2,161,650.98. Following the completion of the transaction, the director owned 207,000 shares in the company, valued at approximately $1,215,090. This represents a 64.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Sourcerock Group LLC grew its holdings in shares of Patterson-UTI Energy by 109.2% during the second quarter. Sourcerock Group LLC now owns 13,803,775 shares of the oil and gas company’s stock worth $81,856,000 after buying an additional 7,205,652 shares in the last quarter. Holocene Advisors LP boosted its position in 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 worth $47,801,000 after acquiring an additional 5,891,956 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in 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 worth $64,517,000 after acquiring an additional 5,551,276 shares during the last quarter. UBS Group AG grew its stake 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 worth $50,839,000 after acquiring an additional 4,558,445 shares in the last quarter. Finally, Millennium Management LLC raised its holdings in shares of Patterson-UTI Energy by 97.7% in the third 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 during the last quarter. 97.91% of the stock is owned by institutional investors and hedge funds.

Patterson-UTI Energy News Summary

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

• Positive Sentiment: Zacks Research raised several near‑term and multi‑quarter EPS forecasts for PTEN, trimming projected losses across 2026–2027 (examples: FY2026 revised to ($0.40) from ($0.52); FY2027 to ($0.31) from ($0.42); multiple quarterly revisions narrowed losses). The revisions imply improving operational outlook and reduce the magnitude of expected losses. (Zacks research notes, 2/18)
• Positive Sentiment: Zacks issued a new FY2028 estimate (earnings of ($0.14)), indicating the firm now expects a smaller loss further out, which supports a gradually improving earnings trajectory versus prior forecasts. (Zacks research notes, 2/18)
• Neutral Sentiment: Brokerage consensus remains a “Hold” for PTEN, which may limit near‑term upside despite the Zacks upgrades; the brokerage note is summarized here. Patterson-UTI Energy, Inc. (NASDAQ:PTEN) Given Consensus Rating of “Hold” by Brokerages

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.