Zacks Research Has Positive Estimate for PTEN Q2 Earnings

Patterson-UTI Energy, Inc. (NASDAQ:PTEN) – Equities research analysts at Zacks Research raised their Q2 2026 earnings estimates for shares of Patterson-UTI Energy in a research report issued on Tuesday, March 17th. 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 ($0.10). 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 Q3 2026 earnings at ($0.08) EPS, Q4 2026 earnings at ($0.09) EPS, FY2026 earnings at ($0.39) EPS, Q1 2027 earnings at ($0.13) EPS, Q3 2027 earnings at ($0.06) EPS, Q4 2027 earnings at ($0.02) EPS, FY2027 earnings at ($0.28) EPS and FY2028 earnings at ($0.12) EPS.

Several other analysts have also issued reports on PTEN. Royal Bank Of Canada increased 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. Bank of America reaffirmed a “buy” rating on shares of Patterson-UTI Energy in a research note on Monday, March 2nd. Stifel Nicolaus upped their price objective on shares of Patterson-UTI Energy from $9.00 to $11.00 and gave the stock a “buy” rating in a research report on Friday, February 6th. The Goldman Sachs Group increased their price objective on shares of Patterson-UTI Energy from $7.00 to $9.00 and gave the stock a “buy” rating in a research note on Wednesday, March 4th. Finally, Citigroup 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 report on Monday, February 9th. Five investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Patterson-UTI Energy has a consensus rating of “Hold” and a consensus target price of $8.11.

Patterson-UTI Energy Trading Down 0.2%

Shares of NASDAQ:PTEN opened at $10.72 on Thursday. The business’s 50 day simple moving average is $8.32 and its 200 day simple moving average is $6.74. Patterson-UTI Energy has a 1 year low of $5.10 and a 1 year high of $11.09. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.64 and a quick ratio of 1.46. The company has a market capitalization of $4.07 billion, a P/E ratio of -42.88 and a beta of 0.71.

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Quarry LP boosted its stake in shares of Patterson-UTI Energy by 360.3% in the 3rd quarter. Quarry LP now owns 4,934 shares of the oil and gas company’s stock valued at $26,000 after purchasing 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 valued at $34,000 after purchasing an additional 2,049 shares during the last quarter. Versant Capital Management Inc lifted its stake in 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 valued at $31,000 after purchasing an additional 3,343 shares during the last quarter. Rockefeller Capital Management L.P. boosted its position in Patterson-UTI Energy by 187.6% in the fourth 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 in the last quarter. Finally, Aster Capital Management DIFC Ltd acquired a new stake in Patterson-UTI Energy in the third quarter valued at approximately $37,000. Institutional investors and hedge funds own 97.91% of the company’s stock.

Insider Buying and Selling at Patterson-UTI Energy

In related news, Director Robert Wayne Drummond, Jr. sold 164,775 shares of the company’s stock in a transaction on Monday, March 16th. The stock was sold at an average price of $10.18, for a total transaction of $1,677,409.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.40% of the stock is currently owned by corporate insiders.

Patterson-UTI Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Monday, March 2nd were issued a dividend of $0.10 per share. This is an increase from Patterson-UTI Energy’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.7%. Patterson-UTI Energy’s payout ratio is presently -160.00%.

Key Headlines Impacting Patterson-UTI Energy

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

• Positive Sentiment: Zacks Research raised multiple quarterly and annual EPS estimates (small trims to expected losses across 2026–2028), signaling modestly improved profitability expectations that can support the stock. Read More.
• Positive Sentiment: Patterson-UTI increased its quarterly dividend to $0.10 (paid Mar. 16), implying a 3.7% yield and providing income support that can attract yield-focused investors. Read More.
• Neutral Sentiment: Analyst coverage remains mixed: several banks have adjusted targets and ratings (Buy/Hold/Sell mix) and the consensus rating is still “Hold” with an average target around $8.11, so upside is not uniformly endorsed. Read More.
• Neutral Sentiment: Large institutional ownership and recent position changes (several funds added shares) show continued institutional interest, which can both stabilize and amplify moves depending on flows. Read More.
• Negative Sentiment: Insider selling: Director Robert Wayne Drummond Jr. sold 164,775 shares on March 16 at about $10.18 each (~$1.68M). Such a sizable director sale can create headline risk and near‑term supply pressure even if for diversification or tax reasons. Read More. Read More.

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.