Brokerages Set Patterson-UTI Energy, Inc. (NASDAQ:PTEN) Target Price at $12.40

Patterson-UTI Energy, Inc. (NASDAQ:PTEN) has been assigned an average rating of “Hold” from the fifteen brokerages that are covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $12.35.

PTEN has been the topic of several recent analyst reports. KeyCorp raised shares of Patterson-UTI Energy to an “overweight” rating in a research note on Wednesday, May 27th. Citigroup lowered their price target on Patterson-UTI Energy from $11.00 to $10.50 and set a “neutral” rating on the stock in a report on Monday. Susquehanna increased their price objective on Patterson-UTI Energy from $13.00 to $14.00 and gave the stock a “positive” rating in a research note on Wednesday, May 27th. Zacks Research lowered Patterson-UTI Energy from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 15th. Finally, The Goldman Sachs Group lifted their target price on Patterson-UTI Energy from $11.00 to $13.00 and gave the company a “buy” rating in a research note on Thursday, June 4th.

Insider Activity

In other news, Director Robert Wayne Drummond, Jr. sold 322,699 shares of the business’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $12.04, for a total transaction of $3,885,295.96. Following the transaction, the director directly owned 1,190,248 shares in the company, valued at $14,330,585.92. The trade was a 21.33% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO James Michael Holcomb sold 150,000 shares of Patterson-UTI Energy stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $11.47, for a total value of $1,720,500.00. Following the sale, the chief operating officer directly owned 421,523 shares of the company’s stock, valued at approximately $4,834,868.81. The trade was a 26.25% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 1,007,844 shares of company stock valued at $11,922,302 in the last three months. 2.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Patterson-UTI Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in PTEN. Royal Bank of Canada lifted its holdings in shares of Patterson-UTI Energy by 23.7% during the 1st quarter. Royal Bank of Canada now owns 169,995 shares of the oil and gas company’s stock valued at $1,397,000 after buying an additional 32,622 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Patterson-UTI Energy by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 231,637 shares of the oil and gas company’s stock worth $1,904,000 after buying an additional 10,142 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Patterson-UTI Energy by 4.9% during the first quarter. Goldman Sachs Group Inc. now owns 4,747,463 shares of the oil and gas company’s stock valued at $39,024,000 after acquiring an additional 220,422 shares in the last quarter. United Services Automobile Association acquired a new stake in Patterson-UTI Energy in the first quarter valued at approximately $176,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Patterson-UTI Energy by 3.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 864,492 shares of the oil and gas company’s stock valued at $7,106,000 after acquiring an additional 30,217 shares during the last quarter. 97.91% of the stock is owned by hedge funds and other institutional investors.

Trending Headlines about Patterson-UTI Energy

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

• Positive Sentiment: Zacks Research lifted its earnings estimates for Patterson-UTI Energy across several periods, including Q2, Q3 and Q4 2026, plus FY2026 and FY2027, suggesting slightly better operating expectations ahead.
• Positive Sentiment: A Seeking Alpha piece argued investors may want to keep holding PTEN as geopolitical risk around the Strait of Hormuz reopens, implying potential support from oil-market volatility. Article Title
• Neutral Sentiment: Citi reportedly kept a Neutral/Hold rating on Patterson-UTI Energy, indicating the bank does not see a strong near-term catalyst either way. Article Title
• Neutral Sentiment: Another report said Citi stuck with its Hold rating on PTEN, reinforcing a wait-and-see view from analysts. Article Title
• Negative Sentiment: Citi’s lower price target is the clearest bearish catalyst in the news flow and likely helping explain why PTEN is moving down today.
• Negative Sentiment: An article asking whether PTEN is a good stock to buy now reflects ongoing valuation and earnings concerns rather than a strong bullish thesis. Article Title

Patterson-UTI Energy Price Performance

NASDAQ PTEN opened at $8.57 on Thursday. The stock’s 50-day moving average price is $11.30 and its two-hundred day moving average price is $9.41. The company has a current ratio of 1.84, a quick ratio of 1.63 and a debt-to-equity ratio of 0.39. The company has a market cap of $3.25 billion, a PE ratio of -27.64 and a beta of 0.62. Patterson-UTI Energy has a 1 year low of $5.10 and a 1 year high of $13.08.

Patterson-UTI Energy (NASDAQ:PTEN) last announced its earnings results on Wednesday, April 22nd. The oil and gas company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.04. The company had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.11 billion. Patterson-UTI Energy had a negative net margin of 2.56% and a negative return on equity of 2.32%. The firm’s revenue was down 12.7% on a year-over-year basis. On average, analysts predict that Patterson-UTI Energy will post -0.14 EPS for the current year.

Patterson-UTI Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 4.7%. The ex-dividend date was Monday, June 1st. Patterson-UTI Energy’s dividend payout ratio (DPR) is currently -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.