Zacks Research Has Optimistic Outlook of PTEN Q4 Earnings

Patterson-UTI Energy, Inc. (NASDAQ:PTEN) – Equities research analysts at Zacks Research lifted their Q4 2026 earnings per share estimates for shares of Patterson-UTI Energy in a report issued on Thursday, September 10th. Zacks Research analyst Team now forecasts that the oil and gas company will post earnings of $0.00 per share for the quarter, up from their previous estimate of ($0.01). Zacks Research currently has a “Hold” rating on the stock. The consensus estimate for Patterson-UTI Energy’s current full-year earnings is ($0.02) per share. Zacks Research also issued estimates for Patterson-UTI Energy’s Q2 2027 earnings at $0.04 EPS, Q3 2027 earnings at $0.03 EPS, FY2027 earnings at $0.08 EPS, Q1 2028 earnings at $0.10 EPS, Q2 2028 earnings at $0.10 EPS and FY2028 earnings at $0.41 EPS.

A number of other analysts have also commented on the company. KeyCorp upgraded Patterson-UTI Energy to an “overweight” rating in a report on Wednesday, May 27th. Barclays lifted their target price on Patterson-UTI Energy from $15.00 to $16.00 and gave the company an “overweight” rating in a research report on Wednesday, August 5th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Patterson-UTI Energy in a research report on Friday, August 21st. The Goldman Sachs Group lifted their price objective on shares of Patterson-UTI Energy from $11.00 to $13.00 and gave the company a “buy” rating in a report on Thursday, June 4th. Finally, JPMorgan Chase & Co. upgraded shares of Patterson-UTI Energy from an “underweight” rating to a “neutral” rating and set a $12.00 target price for the company in a report on Friday, July 31st. Nine analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $13.25.

Patterson-UTI Energy Trading Down 0.2%

Shares of NASDAQ:PTEN opened at $12.90 on Friday. The firm has a market cap of $4.92 billion, a price-to-earnings ratio of -56.09 and a beta of 0.66. Patterson-UTI Energy has a 12 month low of $5.10 and a 12 month high of $13.39. The company’s fifty day simple moving average is $10.89 and its 200 day simple moving average is $10.76. The company has a quick ratio of 1.57, a current ratio of 1.75 and a debt-to-equity ratio of 0.40.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. BlackRock Inc. acquired a new stake in Patterson-UTI Energy during the 2nd quarter valued at $577,234,000. Sourcerock Group LLC increased its holdings in shares of Patterson-UTI Energy by 109.2% in the second quarter. Sourcerock Group LLC now owns 13,803,775 shares of the oil and gas company’s stock valued at $81,856,000 after purchasing an additional 7,205,652 shares during the last quarter. Webs Creek Capital Management LP bought a new position in shares of Patterson-UTI Energy in the second quarter valued at about $53,729,934. Bank of America Corp DE bought a new position in shares of Patterson-UTI Energy in the second quarter valued at about $52,132,000. Finally, Goldman Sachs Group Inc. lifted its stake in shares of 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 worth $64,517,000 after buying an additional 5,551,276 shares during the last quarter. 97.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Patterson-UTI Energy news, Director Robert Wayne Drummond, Jr. sold 198,395 shares of the company’s stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $12.85, for a total transaction of $2,549,375.75. Following the sale, the director directly owned 928,773 shares of the company’s stock, valued at approximately $11,934,733.05. This represents a 17.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO William Andrew Hendricks, Jr. sold 250,000 shares of the stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $12.93, for a total transaction of $3,232,500.00. Following the completion of the sale, the chief executive officer owned 2,292,474 shares of the company’s stock, valued at approximately $29,641,688.82. This represents a 9.83% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 777,000 shares of company stock worth $9,721,280. 2.20% of the stock is owned by corporate insiders.

Patterson-UTI Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend is Tuesday, September 1st. Patterson-UTI Energy’s dividend payout ratio is presently -173.91%.

Patterson-UTI Energy News Summary

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

• Positive Sentiment: Zacks Research raised multiple earnings estimates. The firm increased its FY2027 EPS forecast from $0.04 to $0.08 and its FY2028 estimate from $0.38 to $0.41. It also lifted estimates for Q4 2026, Q2 and Q3 2027, and Q1 and Q2 2028. The revisions suggest analysts expect improving profitability as Patterson-UTI’s drilling and completion businesses recover.
• Positive Sentiment: August drilling activity remained substantial. Patterson-UTI averaged 101 revenue-earning U.S. rigs in August and 100 rigs during the two months ended August 31. Consistent rig activity supports revenue generation and could provide operating leverage if utilization and pricing improve. Patterson-UTI Averaged 101 August Rigs
• Neutral Sentiment: The analyst rating remains “Hold.” Despite the higher forward estimates, Zacks still rates PTEN as a Hold. The company is expected to post a current-year loss of approximately $0.02 per share, while the revised FY2027 and FY2028 forecasts point to a gradual return to profitability rather than an immediate earnings rebound.
• Neutral Sentiment: Rig-count data does not confirm margin improvement. The August activity update did not provide day rates, contract duration, utilization by rig class, or margins, leaving uncertainty about how effectively the fleet is converting activity into profits. Patterson-UTI Highlights Q3 Rig Activity and Fleet Strategy

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.