Patterson-UTI Energy, Inc. (NASDAQ:PTEN) Receives $12.15 Average Target Price from Analysts

Posted by Brian Himes on Jul 23rd, 2026

Patterson-UTI Energy, Inc. (NASDAQ:PTEN – Get Free Report) has received an average rating of “Hold” from the fifteen brokerages that are covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $12.15.

A number of equities research analysts have weighed in on the company. Morgan Stanley lifted their target price on Patterson-UTI Energy from $7.00 to $10.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 15th. KeyCorp raised Patterson-UTI Energy to an “overweight” rating in a research report on Wednesday, May 27th. Zacks Research lowered Patterson-UTI Energy from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 15th. Barclays upgraded Patterson-UTI Energy from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $10.00 to $15.00 in a research note on Thursday, May 7th. Finally, Susquehanna lowered their price objective on shares of Patterson-UTI Energy from $14.00 to $12.00 and set a “positive” rating for the company in a research note on Wednesday, July 8th.

View Our Latest Analysis on PTEN

Insider Activity

In other news, CEO William Andrew Hendricks, Jr. sold 200,000 shares of the stock in a transaction on Friday, June 5th. The stock was sold at an average price of $11.64, for a total transaction of $2,328,000.00. Following the completion of the sale, the chief executive officer owned 2,542,474 shares in the company, valued at approximately $29,594,397.36. This represents a 7.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Cesar Jaime sold 10,000 shares of the stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $12.29, for a total value of $122,900.00. Following the completion of the sale, the director owned 77,462 shares of the company’s stock, valued at approximately $952,007.98. This trade represents a 11.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 1,007,844 shares of company stock worth $11,922,302 over the last ninety days. 2.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Patterson-UTI Energy

Several hedge funds have recently modified their holdings of PTEN. Royal Bank of Canada boosted its stake in Patterson-UTI Energy by 23.7% in the 1st quarter. Royal Bank of Canada now owns 169,995 shares of the oil and gas company’s stock worth $1,397,000 after purchasing an additional 32,622 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Patterson-UTI Energy by 4.6% during the 1st 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 purchasing an additional 10,142 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in Patterson-UTI Energy by 4.9% during the 1st 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 purchasing an additional 220,422 shares in the last quarter. United Services Automobile Association acquired a new position in Patterson-UTI Energy during the 1st quarter valued at approximately $176,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of 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 worth $7,106,000 after buying an additional 30,217 shares during the last quarter. Institutional investors and hedge funds own 97.91% of the company’s stock.

Patterson-UTI Energy Trading Up 1.8%

Shares of PTEN opened at $10.72 on Monday. Patterson-UTI Energy has a 1-year low of $5.10 and a 1-year high of $13.08. The company has a 50-day moving average of $10.69 and a 200 day moving average of $9.79. The firm has a market capitalization of $4.07 billion, a price-to-earnings ratio of -34.58 and a beta of 0.62. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.84 and a quick ratio of 1.63.

Patterson-UTI Energy (NASDAQ:PTEN – Get Free Report) last issued its earnings results on Wednesday, April 22nd. The oil and gas company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.11 billion. Patterson-UTI Energy’s revenue for the quarter was down 12.7% on a year-over-year basis. On average, research analysts expect that Patterson-UTI Energy will post -0.08 EPS for the current year.

About Patterson-UTI Energy

(Get Free Report)

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.