Zacks Research Issues Pessimistic Forecast for PTEN Earnings

Patterson-UTI Energy, Inc. (NASDAQ:PTEN) – Analysts at Zacks Research decreased their Q1 2027 earnings per share estimates for Patterson-UTI Energy in a research report issued on Wednesday, May 7th. Zacks Research analyst N. Choudhury now expects that the oil and gas company will post earnings of $0.03 per share for the quarter, down from their previous forecast of $0.07. The consensus estimate for Patterson-UTI Energy’s current full-year earnings is ($0.10) per share.

Patterson-UTI Energy (NASDAQ:PTEN) last posted its quarterly earnings results on Wednesday, April 23rd. The oil and gas company reported $0.00 earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.04. Patterson-UTI Energy had a positive return on equity of 0.81% and a negative net margin of 18.00%. The business had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same period in the prior year, the company posted $0.15 EPS. The firm’s revenue for the quarter was down 15.2% compared to the same quarter last year.

PTEN has been the topic of a number of other reports. The Goldman Sachs Group decreased their target price on Patterson-UTI Energy from $11.00 to $8.00 and set a “neutral” rating on the stock in a research report on Thursday, April 10th. Susquehanna lowered their target price on Patterson-UTI Energy from $10.00 to $9.00 and set a “positive” rating for the company in a research report on Monday, April 14th. Stifel Nicolaus reduced their price target on shares of Patterson-UTI Energy from $13.00 to $12.00 and set a “buy” rating on the stock in a research report on Tuesday, April 15th. Morgan Stanley lowered their price objective on shares of Patterson-UTI Energy from $10.00 to $9.00 and set an “equal weight” rating for the company in a research report on Thursday, March 27th. Finally, Barclays reduced their target price on shares of Patterson-UTI Energy from $11.00 to $8.00 and set an “overweight” rating on the stock in a report on Monday, April 28th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Patterson-UTI Energy currently has an average rating of “Moderate Buy” and an average price target of $10.32.

Patterson-UTI Energy Stock Up 2.6 %

Shares of PTEN stock opened at $5.99 on Friday. The company’s fifty day simple moving average is $6.80 and its two-hundred day simple moving average is $7.77. Patterson-UTI Energy has a 52 week low of $5.12 and a 52 week high of $11.70. The stock has a market cap of $2.31 billion, a P/E ratio of -2.43 and a beta of 1.33. The company has a quick ratio of 1.34, a current ratio of 1.54 and a debt-to-equity ratio of 0.35.

Patterson-UTI Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be paid a $0.08 dividend. The ex-dividend date is Monday, June 2nd. This represents a $0.32 dividend on an annualized basis and a yield of 5.34%. Patterson-UTI Energy’s payout ratio is -12.31%.

Insider Transactions at Patterson-UTI Energy

In other news, CEO William Andrew Hendricks, Jr. purchased 25,000 shares of the stock in a transaction that occurred on Wednesday, March 12th. The stock was purchased at an average price of $7.88 per share, for a total transaction of $197,000.00. Following the completion of the acquisition, the chief executive officer now owns 2,482,592 shares of the company’s stock, valued at approximately $19,562,824.96. This trade represents a 1.02 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director James Carl Stewart sold 48,149 shares of Patterson-UTI Energy stock in a transaction on Friday, March 7th. The shares were sold at an average price of $7.42, for a total value of $357,265.58. Following the sale, the director now directly owns 85,475 shares of the company’s stock, valued at approximately $634,224.50. This trade represents a 36.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Pacer Advisors Inc. boosted its stake in shares of Patterson-UTI Energy by 10.6% during the fourth quarter. Pacer Advisors Inc. now owns 22,096,553 shares of the oil and gas company’s stock valued at $182,518,000 after purchasing an additional 2,123,659 shares in the last quarter. Fuller & Thaler Asset Management Inc. increased its holdings in shares of Patterson-UTI Energy by 89.1% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 16,954,738 shares of the oil and gas company’s stock valued at $140,046,000 after acquiring an additional 7,989,877 shares during the period. ARGA Investment Management LP raised its position in shares of Patterson-UTI Energy by 25.2% in the 1st quarter. ARGA Investment Management LP now owns 12,784,573 shares of the oil and gas company’s stock worth $105,089,000 after acquiring an additional 2,569,713 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of Patterson-UTI Energy by 13.5% during the 4th quarter. American Century Companies Inc. now owns 9,636,471 shares of the oil and gas company’s stock worth $79,597,000 after purchasing an additional 1,144,094 shares during the last quarter. Finally, Van ECK Associates Corp boosted its position in Patterson-UTI Energy by 31.2% during the fourth quarter. Van ECK Associates Corp now owns 7,321,667 shares of the oil and gas company’s stock valued at $60,477,000 after purchasing an additional 1,743,241 shares in the last quarter. Hedge funds and other institutional investors own 97.91% of the company’s stock.

About Patterson-UTI Energy

Patterson-UTI Energy, Inc, through its subsidiaries, engages in the provision of contract drilling services to oil and natural gas operators in the United States and internationally. It operates through three segments: Drilling Services, Completion Services, and Drilling Products. The Contract Drilling Services segment provides contract and directional drilling services in onshore oil and natural gas basins, as well as engages in the service and re-certification of equipment for drilling contractors, and provision of electrical controls and automation to the energy, marine and mining industries.