Zacks Research Has Bullish Forecast for PTEN Q2 Earnings

Patterson-UTI Energy, Inc. (NASDAQ:PTEN) – Stock analysts at Zacks Research lifted their Q2 2026 earnings per share estimates for shares of Patterson-UTI Energy in a research report issued on Tuesday, June 2nd. Zacks Research analyst Team now forecasts that the oil and gas company will post earnings per share of ($0.07) for the quarter, up from their prior forecast of ($0.08). Zacks Research currently has a “Strong-Buy” rating on the stock. The consensus estimate for Patterson-UTI Energy’s current full-year earnings is ($0.16) per share. Zacks Research also issued estimates for Patterson-UTI Energy’s Q3 2026 earnings at ($0.06) EPS, Q4 2026 earnings at ($0.07) EPS, FY2026 earnings at ($0.26) EPS, Q1 2027 earnings at ($0.11) EPS, Q2 2027 earnings at ($0.03) EPS, Q3 2027 earnings at ($0.04) EPS, FY2027 earnings at ($0.17) EPS and FY2028 earnings at $0.09 EPS.

A number of other research firms have also recently weighed in on PTEN. Barclays upgraded Patterson-UTI Energy from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $10.00 to $15.00 in a report on Thursday, May 7th. Capital One Financial upgraded Patterson-UTI Energy from an “equal weight” rating to an “overweight” rating and set a $12.00 price target for the company in a report on Monday, April 20th. Bank of America reiterated a “buy” rating on shares of Patterson-UTI Energy in a report on Monday, March 2nd. Piper Sandler increased their price target on Patterson-UTI Energy from $12.00 to $13.00 and gave the stock a “neutral” rating in a report on Wednesday, May 27th. Finally, Morgan Stanley increased their price target on Patterson-UTI Energy from $7.00 to $10.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 15th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, four have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $12.10.

Patterson-UTI Energy Stock Up 2.4%

Shares of PTEN opened at $12.01 on Thursday. The company has a market capitalization of $4.56 billion, a PE ratio of -38.74 and a beta of 0.61. The company has a quick ratio of 1.63, a current ratio of 1.84 and a debt-to-equity ratio of 0.39. Patterson-UTI Energy has a 52-week low of $5.10 and a 52-week high of $13.08. The stock has a fifty day simple moving average of $11.30 and a two-hundred day simple moving average of $8.77.

Patterson-UTI Energy (NASDAQ:PTEN) last issued its earnings results on Wednesday, April 22nd. The oil and gas company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.04. Patterson-UTI Energy had a negative return on equity of 2.32% and a negative net margin of 2.56%.The business had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.11 billion. Patterson-UTI Energy’s revenue for the quarter was down 12.7% compared to the same quarter last year.

Patterson-UTI Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date is Monday, June 1st. Patterson-UTI Energy’s dividend payout ratio (DPR) is -129.03%.

Insider Transactions at Patterson-UTI Energy

In related news, COO James Michael Holcomb sold 150,000 shares of the firm’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $11.47, for a total transaction of $1,720,500.00. Following the completion of the transaction, the chief operating officer directly owned 421,523 shares in the company, valued at $4,834,868.81. This trade represents a 26.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Robert Wayne Drummond, Jr. sold 322,699 shares of the firm’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $12.04, for a total value of $3,885,295.96. Following the transaction, the director owned 1,190,248 shares of the company’s stock, valued at $14,330,585.92. This trade represents a 21.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 958,949 shares of company stock valued at $11,107,535. Insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Patterson-UTI Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its holdings in Patterson-UTI Energy by 14.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 21,211,576 shares of the oil and gas company’s stock valued at $229,732,000 after acquiring an additional 2,745,872 shares during the period. American Century Companies Inc. boosted its holdings in Patterson-UTI Energy by 7.9% during the 3rd quarter. American Century Companies Inc. now owns 15,599,294 shares of the oil and gas company’s stock valued at $80,804,000 after acquiring an additional 1,135,704 shares during the period. State Street Corp boosted its holdings in Patterson-UTI Energy by 0.5% during the 4th quarter. State Street Corp now owns 15,265,086 shares of the oil and gas company’s stock valued at $93,270,000 after acquiring an additional 75,560 shares during the period. Sourcerock Group LLC boosted its holdings in 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 acquiring an additional 7,205,652 shares during the period. Finally, Goldman Sachs Group Inc. boosted its holdings 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 valued at $64,517,000 after acquiring an additional 5,551,276 shares during the period. 97.91% of the stock is currently owned by hedge funds and other institutional investors.

Patterson-UTI Energy News Summary

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

• Positive Sentiment: Zacks Research lifted Patterson-UTI Energy’s earnings estimates for several upcoming quarters and full years, including a sharp improvement in FY2028 EPS, suggesting improving fundamentals and a more constructive outlook for the oilfield services company.
• Positive Sentiment: The firm reaffirmed a Strong-Buy rating, which can reinforce investor confidence in PTEN and support the stock.
• Neutral Sentiment: Despite the higher estimates, Zacks still expects Patterson-UTI Energy to remain unprofitable in the near term, so the revised forecasts do not yet signal a full turnaround.
• Negative Sentiment: Recent insider selling by COO James Michael Holcomb may create some caution among investors, even though the market focus appears to be on the upgraded earnings outlook. Patterson-UTI Energy (NASDAQ:PTEN) COO James Michael Holcomb Sells 150,000 Shares

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.