Patterson-UTI Energy (NASDAQ:PTEN – Get Free Report) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Wednesday,Zacks.com reports.
Other research analysts also recently issued research reports about the stock. KeyCorp raised shares of Patterson-UTI Energy to an “overweight” rating in a research note on Wednesday, May 27th. The Goldman Sachs Group boosted 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, June 4th. Susquehanna cut their price target on shares of Patterson-UTI Energy from $14.00 to $12.00 and set a “positive” rating on the stock in a research note on Wednesday, July 8th. Piper Sandler upgraded shares of Patterson-UTI Energy from a “neutral” rating to an “overweight” rating and set a $13.00 price target on the stock in a report on Tuesday, July 14th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Patterson-UTI Energy in a research note on Tuesday, May 26th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $12.15.
Check Out Our Latest Analysis on PTEN
Patterson-UTI Energy Trading Up 5.6%
Patterson-UTI Energy (NASDAQ:PTEN – Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The oil and gas company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.01). Patterson-UTI Energy had a negative net margin of 1.92% and a negative return on equity of 1.67%. The business had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same period in the prior year, the firm earned ($0.13) EPS. Patterson-UTI Energy’s revenue for the quarter was up .7% on a year-over-year basis. As a group, analysts forecast that Patterson-UTI Energy will post -0.06 EPS for the current year.
Insider Buying and Selling at Patterson-UTI Energy
In related news, Director Robert Wayne Drummond, Jr. sold 61,475 shares of the stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $12.02, for a total transaction of $738,929.50. Following the completion of the sale, the director owned 1,128,773 shares of the company’s stock, valued at approximately $13,567,851.46. This represents a 5.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William Andrew Hendricks, Jr. sold 200,000 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $11.64, for a total transaction of $2,328,000.00. Following the completion of the transaction, the chief executive officer owned 2,542,474 shares in the company, valued at $29,594,397.36. The trade was a 7.29% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 435,145 shares of company stock worth $5,074,506. Company insiders own 2.20% of the company’s stock.
Institutional Investors Weigh In On Patterson-UTI Energy
Large investors have recently made changes to their positions in the business. Alpine Woods Capital Investors LLC acquired a new position in shares of Patterson-UTI Energy during the 1st quarter valued at $243,000. Glenmede Trust Co. NA increased its holdings in Patterson-UTI Energy by 199.9% in the 1st quarter. Glenmede Trust Co. NA now owns 35,637 shares of the oil and gas company’s stock valued at $386,000 after purchasing an additional 23,755 shares in the last quarter. Bank of America Corp DE increased its holdings in Patterson-UTI Energy by 10.9% in the 1st quarter. Bank of America Corp DE now owns 4,855,166 shares of the oil and gas company’s stock valued at $52,581,000 after purchasing an additional 475,623 shares in the last quarter. Amundi raised its position in Patterson-UTI Energy by 646.3% in the first quarter. Amundi now owns 110,955 shares of the oil and gas company’s stock valued at $1,202,000 after purchasing an additional 96,088 shares during the period. Finally, California State Teachers Retirement System raised its position in Patterson-UTI Energy by 20.4% in the first quarter. California State Teachers Retirement System now owns 425,281 shares of the oil and gas company’s stock valued at $4,606,000 after purchasing an additional 72,082 shares during the period. Institutional investors and hedge funds own 97.91% of the company’s stock.
Key Patterson-UTI Energy News
Here are the key news stories impacting Patterson-UTI Energy this week:
- Positive Sentiment: Second-quarter revenue totaled $1.23 billion, exceeding analysts’ estimate of $1.15 billion and increasing approximately 0.7% year over year. The sales outperformance is the primary reason for the stock’s advance. Patterson-UTI posts better-than-expected sales in Q2 CY2026
- Positive Sentiment: Reported earnings improved from a loss of $0.13 per share in the year-ago quarter to a loss of $0.05 per share. Some adjusted-earnings coverage characterized results as break-even, ahead of the consensus expectation for a $0.03 loss, suggesting better underlying performance than last year. Patterson-UTI reports break-even earnings for Q2
- Positive Sentiment: Patterson-UTI declared a quarterly dividend of $0.10 per share, payable September 15 to shareholders of record September 1. The dividend represents an annualized yield of roughly 4.2%, which may support income-focused investor interest.
- Neutral Sentiment: The company’s results were mixed across key metrics, with revenue well above expectations but profitability still pressured. Investors will likely look for details on drilling activity, pricing, margins and management’s outlook in the earnings materials and conference call. Patterson-UTI earnings conference call
- Negative Sentiment: GAAP EPS of negative $0.05 missed the consensus estimate of negative $0.04 by $0.01. Patterson-UTI also reported a negative net margin of 2.56% and negative return on equity of 2.32%, indicating that the business remains unprofitable despite the revenue beat. Patterson-UTI second-quarter earnings
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.
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