Patterson-UTI Energy, Inc. (NASDAQ:PTEN) Stock Has Consensus Price Target of $13.14 According to Analysts

Posted by Stanley Muller on Nov 4th, 2026

Patterson-UTI Energy, Inc. (NASDAQ:PTEN – Get Free Report) has been assigned a consensus recommendation of “Moderate Buy” from the fifteen ratings firms that are covering the stock, Marketbeat reports. Six research analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $14.09.

A number of brokerages have recently issued reports on PTEN. Citigroup dropped their price objective on Patterson-UTI Energy from $13.50 to $12.50 and set a “neutral” rating on the stock in a research note on Friday, October 2nd. Zacks Research downgraded shares of Patterson-UTI Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 27th. JPMorgan Chase & Co. upgraded shares of 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. Piper Sandler upped their target price on Patterson-UTI Energy from $14.00 to $15.00 and gave the company an “overweight” rating in a research report on Tuesday. Finally, Royal Bank Of Canada boosted their price objective on shares of Patterson-UTI Energy from $15.00 to $17.00 and gave the company an “outperform” rating in a report on Friday, October 30th.

Read Our Latest Report on PTEN

Key Patterson-UTI Energy News

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

Positive Sentiment: Piper Sandler raised its price target to $15 from $14 and reaffirmed an Overweight rating, implying 27.7% upside from the reference price cited in the report. Piper Sandler analyst recommendation
Positive Sentiment: Morgan Stanley increased its target to $13 from $12, while keeping an Equal Weight rating; the report cited 10.6% potential upside. Morgan Stanley analyst recommendation
Positive Sentiment: UBS lifted its target to $13.50 from $13 but maintained a Neutral rating; the report cited 14.9% potential upside. UBS analyst recommendation
Neutral Sentiment: A Zacks article says it compares PTEN’s September-quarter revenue, EPS and other key metrics with Wall Street estimates and year-ago results, but the available summary does not provide the comparison’s findings. Zacks Q3 earnings metrics article

Patterson-UTI Energy Trading Down 0.4%

NASDAQ PTEN opened at $11.75 on Wednesday. The stock has a 50-day simple moving average of $11.88 and a 200 day simple moving average of $10.56. Patterson-UTI Energy has a 12 month low of $5.24 and a 12 month high of $13.39. The company has a market capitalization of $4.48 billion, a PE ratio of -195.83 and a beta of 0.79. The company has a current ratio of 1.73, a quick ratio of 1.57 and a debt-to-equity ratio of 0.40.

Patterson-UTI Energy (NASDAQ:PTEN – Get Free Report) last announced its quarterly earnings results on Wednesday, October 28th. The oil and gas company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.03. The company had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.31 billion. Patterson-UTI Energy had a negative return on equity of 0.58% and a negative net margin of 0.52%. The company’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.10) earnings per share. Research analysts forecast that Patterson-UTI Energy will post 0.01 EPS for the current year.

Patterson-UTI Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, December 1st will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date is Tuesday, December 1st. Patterson-UTI Energy’s dividend payout ratio is currently -666.67%.

Insider Transactions at Patterson-UTI Energy

In other Patterson-UTI Energy news, Director James Stewart sold 207,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $11.54, for a total transaction of $2,388,780.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Seth Wexler sold 120,000 shares of the firm’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $12.75, for a total value of $1,530,000.00. Following the transaction, the executive vice president owned 404,582 shares of the company’s stock, valued at $5,158,420.50. This trade represents a 22.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 1,027,000 shares of company stock valued at $12,698,780. Company insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Patterson-UTI Energy

A number of hedge funds have recently added to or reduced their stakes in PTEN. Lazard Asset Management LLC lifted its position in Patterson-UTI Energy by 6.2% during the first quarter. Lazard Asset Management LLC now owns 21,339 shares of the oil and gas company’s stock valued at $231,000 after purchasing an additional 1,255 shares during the last quarter. ProShare Advisors LLC boosted its stake in shares of Patterson-UTI Energy by 2.6% in the 3rd quarter. ProShare Advisors LLC now owns 51,413 shares of the oil and gas company’s stock valued at $561,000 after purchasing an additional 1,297 shares in the last quarter. Choreo LLC increased its holdings in shares of Patterson-UTI Energy by 2.9% in the third quarter. Choreo LLC now owns 48,047 shares of the oil and gas company’s stock worth $525,000 after buying an additional 1,333 shares during the period. Farther Finance Advisors LLC grew its holdings in shares of Patterson-UTI Energy by 39.7% in the third quarter. Farther Finance Advisors LLC now owns 6,096 shares of the oil and gas company’s stock worth $67,000 after purchasing an additional 1,732 shares during the last quarter. Finally, Assetmark Inc. increased its position in shares of Patterson-UTI Energy by 8.1% in the first quarter. Assetmark Inc. now owns 23,797 shares of the oil and gas company’s stock valued at $258,000 after acquiring an additional 1,786 shares during the period. 97.91% of the stock is currently owned by institutional investors.

About Patterson-UTI Energy

(Get Free Report)

Patterson-UTI Energy, Inc is an oilfield services company that provides drilling, completion and production-related services to oil and natural gas exploration and production companies. Its operations are primarily focused on onshore oil and gas development in the United States.

The company provides contract land drilling services through a fleet of rigs, as well as directional drilling and related technologies used to guide wellbores. Patterson-UTI also offers pressure pumping and hydraulic fracturing, wireline, well-completion, equipment rental and other services that support the development and maintenance of unconventional wells.

Patterson-UTI expanded its completion-services business through its 2023 merger with NexTier Oilfield Solutions.