Patterson-UTI Energy, Inc. (NASDAQ:PTEN) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Patterson-UTI Energy, Inc. (NASDAQ:PTEN) have been assigned an average rating of “Moderate Buy” from the fifteen ratings firms that are presently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $12.30.

Several equities analysts have commented on PTEN shares. The Goldman Sachs Group raised their target price on shares of Patterson-UTI Energy from $11.00 to $13.00 and gave the company a “buy” rating in a report on Thursday. Citigroup raised their target price on shares of Patterson-UTI Energy from $9.00 to $11.00 and gave the company a “neutral” rating in a report on Wednesday, April 15th. Susquehanna lifted their price target on shares of Patterson-UTI Energy from $13.00 to $14.00 and gave the company a “positive” rating in a report on Wednesday, May 27th. Barclays raised shares of Patterson-UTI Energy from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $10.00 to $15.00 in a report on Thursday, May 7th. Finally, Zacks Research raised shares of Patterson-UTI Energy from a “hold” rating to a “strong-buy” rating in a report on Friday, April 10th.

Key Patterson-UTI Energy News

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

• Positive Sentiment: Goldman Sachs increased its price target on Patterson-UTI Energy to $13.00 from $11.00 and reiterated a buy rating, signaling continued confidence in the stock. Article Title
• Positive Sentiment: Zacks Research raised earnings estimates for multiple Patterson-UTI Energy quarters and fiscal years, including FY2026, FY2027, and FY2028, which can support a higher valuation if margins and execution improve.
• Neutral Sentiment: Earlier in the period, Patterson-UTI Energy’s COO sold 150,000 shares, which may attract some attention but does not necessarily indicate a change in the company’s operating outlook.

Insider Activity at Patterson-UTI Energy

In related news, Director Cesar Jaime sold 10,000 shares of Patterson-UTI Energy stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $12.29, for a total transaction of $122,900.00. Following the sale, the director directly owned 77,462 shares in the company, valued at $952,007.98. This trade represents a 11.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William Andrew Hendricks, Jr. sold 250,000 shares of Patterson-UTI Energy stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $11.85, for a total transaction of $2,962,500.00. Following the sale, the chief executive officer owned 2,823,103 shares in the company, valued at approximately $33,453,770.55. This represents a 8.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 958,949 shares of company stock valued at $11,107,535. Company insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Patterson-UTI Energy

Hedge funds have recently added to or reduced their stakes in the business. Quarry LP boosted its position 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 worth $26,000 after buying an additional 3,862 shares during the period. First Horizon Corp boosted its position in Patterson-UTI Energy by 58.5% during the 4th quarter. First Horizon Corp now owns 5,554 shares of the oil and gas company’s stock worth $34,000 after buying an additional 2,049 shares during the period. Rockefeller Capital Management L.P. boosted its position in 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 buying an additional 4,299 shares during the period. Aster Capital Management DIFC Ltd acquired a new stake in Patterson-UTI Energy during the 3rd quarter worth approximately $37,000. Finally, Torren Management LLC acquired a new stake in Patterson-UTI Energy during the 4th quarter worth approximately $44,000. 97.91% of the stock is currently owned by institutional investors and hedge funds.

Patterson-UTI Energy Price Performance

PTEN stock opened at $12.27 on Friday. 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 12 month low of $5.10 and a 12 month high of $13.08. The firm has a market cap of $4.66 billion, a P/E ratio of -39.58 and a beta of 0.61. The company’s 50-day moving average price is $11.33 and its two-hundred day moving average price is $8.81.

Patterson-UTI Energy (NASDAQ:PTEN) last released its earnings results on Wednesday, April 22nd. The oil and gas company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.04. Patterson-UTI Energy had a negative net margin of 2.56% and a negative return on equity of 2.32%. The firm had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.11 billion. The firm’s quarterly revenue was down 12.7% on a year-over-year basis. On average, analysts anticipate that Patterson-UTI Energy will post -0.15 earnings per share for the current fiscal year.

Patterson-UTI Energy Dividend Announcement

The business also recently declared 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. The ex-dividend date of this dividend is Monday, June 1st. This represents a $0.40 annualized dividend and a dividend yield of 3.3%. Patterson-UTI Energy’s payout ratio is -129.03%.

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.