Patterson-UTI Energy, Inc. (NASDAQ:PTEN – Get Free Report) hit a new 52-week high during trading on Thursday . The company traded as high as $13.39 and last traded at $12.8130, with a volume of 403068 shares. The stock had previously closed at $12.93.
Key Patterson-UTI Energy News
Here are the key news stories impacting Patterson-UTI Energy this week:
- Positive Sentiment: Zacks raised its FY2027 EPS forecast to $0.08 from $0.04 and its FY2028 forecast to $0.41 from $0.38. The firm also lifted estimates for Q2 2027, Q3 2027, Q1 2028 and Q2 2028, suggesting expectations for improving profitability over the next several years. MarketBeat Patterson-UTI Energy estimates
- Positive Sentiment: Zacks increased its Q4 2026 estimate from a loss of $0.01 per share to breakeven, while projecting $0.04 EPS in Q2 2027 and $0.03 EPS in Q3 2027. These revisions improve the expected earnings trajectory, although the current full-year consensus remains a loss of $0.02 per share. MarketBeat Patterson-UTI Energy estimates
- Neutral Sentiment: Patterson-UTI averaged 101 revenue-earning U.S. drilling rigs in August and 100 rigs during the two months ended August 31. The activity level indicates continued utilization, but the update provided no day rates, contract durations, fleet-class utilization or margins, leaving the financial impact uncertain. Patterson-UTI averaged 101 August rigs
- Neutral Sentiment: Reported September short-interest data showed zero shares and a zero-day short-interest ratio, unchanged from the prior period. Because the figures appear incomplete or erroneous, they provide no meaningful signal about potential short-covering or selling pressure.
Analyst Upgrades and Downgrades
Several equities analysts recently issued reports on PTEN shares. Susquehanna upped their price objective on shares of Patterson-UTI Energy from $12.00 to $13.00 and gave the company a “positive” rating in a research note on Monday, August 3rd. Royal Bank Of Canada lifted their target price on shares of Patterson-UTI Energy from $14.00 to $15.00 and gave the stock an “outperform” rating in a research note on Friday, May 29th. KeyCorp upgraded Patterson-UTI Energy to an “overweight” rating in a report on Wednesday, May 27th. Barclays increased their price target on Patterson-UTI Energy from $15.00 to $16.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 5th. Finally, JPMorgan Chase & Co. upgraded Patterson-UTI Energy from an “underweight” rating to a “neutral” rating and set a $12.00 price objective on the stock in a report on Friday, July 31st. Nine investment 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’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $13.25.
Patterson-UTI Energy Stock Performance
The company has a market cap of $4.90 billion, a price-to-earnings ratio of -55.87 and a beta of 0.66. The company has a current ratio of 1.75, a quick ratio of 1.57 and a debt-to-equity ratio of 0.40. The stock’s 50 day moving average price is $10.97 and its 200 day moving average price is $10.77.
Patterson-UTI Energy Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $0.40 dividend on an annualized basis and a yield of 3.1%. Patterson-UTI Energy’s dividend payout ratio (DPR) is currently -173.91%.
Insider Activity at Patterson-UTI Energy
In other Patterson-UTI Energy news, Director Robert Drummond Jr. sold 198,395 shares of Patterson-UTI Energy stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $12.85, for a total value of $2,549,375.75. Following the transaction, the director owned 928,773 shares in the company, valued at $11,934,733.05. This trade represents a 17.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Seth Wexler sold 120,000 shares of the business’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $12.75, for a total transaction of $1,530,000.00. Following the sale, the executive vice president directly owned 404,582 shares of the company’s stock, valued at $5,158,420.50. This represents a 22.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 777,000 shares of company stock worth $9,721,280 in the last 90 days. Company insiders own 2.20% of the company’s stock.
Institutional Investors Weigh In On Patterson-UTI Energy
Several institutional investors and hedge funds have recently added to or reduced their stakes in PTEN. BlackRock Inc. purchased a new position in Patterson-UTI Energy in the second quarter valued at approximately $577,234,000. Sourcerock Group LLC grew its stake in Patterson-UTI Energy by 109.2% during the second quarter. Sourcerock Group LLC now owns 13,803,775 shares of the oil and gas company’s stock worth $81,856,000 after buying an additional 7,205,652 shares during the period. Webs Creek Capital Management LP purchased a new stake in Patterson-UTI Energy during the second quarter worth approximately $53,729,934. Bank of America Corp DE acquired a new stake in shares of Patterson-UTI Energy in the second quarter worth $52,132,000. Finally, Goldman Sachs Group Inc. increased its position in shares of Patterson-UTI Energy by 110.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 10,559,219 shares of the oil and gas company’s stock worth $64,517,000 after acquiring an additional 5,551,276 shares in the last quarter. 97.91% of the stock is currently owned by institutional investors and hedge funds.
Patterson-UTI Energy Company Profile
Patterson-UTI Energy, Inc (NASDAQ: PTEN) is an energy-services company that provides drilling, completion, and production-related services to oil and natural gas operators. Its operations support the development of unconventional and other onshore energy resources, primarily in North America.
The company’s offerings include contract land drilling, pressure pumping, well completion services, directional drilling, downhole tools, and related drilling technologies. Patterson-UTI also provides equipment, technical services, and other solutions used throughout the well-construction and completion process.
Patterson-UTI traces its history to the late 1970s and expanded its service platform through acquisitions and strategic combinations.
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