Patterson-UTI Energy (NASDAQ:PTEN) Stock Gets Price Target Reduction from Citigroup

Posted by Brian Himes on Nov 13th, 2026

Patterson-UTI Energy (NASDAQ:PTEN – Free Report) had its price target decreased by Citigroup from $12.50 to $11.00 in a research report released on Tuesday,Benzinga reports. Citigroup currently has a neutral rating on the oil and gas company’s stock.

A number of other research firms have also weighed in on PTEN. Royal Bank Of Canada raised their price objective on shares of Patterson-UTI Energy from $15.00 to $17.00 and gave the company an “outperform” rating in a research note on Friday, October 30th. JPMorgan Chase & Co. upgraded shares of Patterson-UTI Energy from an “underweight” rating to a “neutral” rating and set a $12.00 target price on the stock in a research note on Friday, July 31st. Susquehanna upped their target price on shares of Patterson-UTI Energy from $13.00 to $15.00 and gave the stock a “positive” rating in a research note on Friday, October 30th. Weiss Ratings upgraded shares of Patterson-UTI Energy from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, November 4th. Finally, Zacks Research cut shares of Patterson-UTI Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 27th. Nine analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $13.95.

Get Our Latest Research Report on PTEN

Patterson-UTI Energy Trading Up 2.4%

Patterson-UTI Energy stock opened at $10.67 on Tuesday. 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 $4.05 billion, a price-to-earnings ratio of -177.83 and a beta of 0.79. The business’s fifty day simple moving average is $11.58 and its two-hundred day simple moving average is $10.67. 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 issued its quarterly earnings results on Wednesday, October 28th. The oil and gas company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.03. The firm 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 was up 14.1% on a year-over-year basis. During the same period last year, the company earned ($0.10) earnings per share. As a group, equities analysts predict that Patterson-UTI Energy will post 0.02 earnings per share for the current fiscal year.

Patterson-UTI Energy Dividend Announcement

The firm 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. The ex-dividend date of this dividend is Tuesday, December 1st. This represents a $0.40 annualized dividend and a dividend yield of 3.7%. Patterson-UTI Energy’s dividend payout ratio (DPR) is -666.67%.

Insiders Place Their Bets

In other Patterson-UTI Energy news, EVP Seth Wexler sold 120,000 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president owned 404,582 shares in the company, valued at approximately $5,158,420.50. This represents a 22.88% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William Andrew Hendricks, Jr. sold 250,000 shares of the firm’s stock in a transaction that occurred on Friday, September 18th. The stock was sold at an average price of $11.91, for a total transaction of $2,977,500.00. Following the completion of the sale, the chief executive officer owned 2,042,474 shares in the company, valued at $24,325,865.34. This represents a 10.91% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 1,027,000 shares of company stock valued at $12,698,780 over the last quarter. Corporate insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of PTEN. Engineers Gate Manager LP increased its position in shares of Patterson-UTI Energy by 1,002.2% during the 2nd quarter. Engineers Gate Manager LP now owns 461,819 shares of the oil and gas company’s stock valued at $4,239,000 after purchasing an additional 419,919 shares during the last quarter. Convergence Investment Partners LLC purchased a new position in shares of Patterson-UTI Energy in the first quarter worth approximately $1,325,000. The Manufacturers Life Insurance Company purchased a new position in shares of Patterson-UTI Energy in the second quarter worth approximately $2,675,000. Quantinno Capital Management LP boosted its holdings in shares of Patterson-UTI Energy by 163.5% in the first quarter. Quantinno Capital Management LP now owns 503,916 shares of the oil and gas company’s stock worth $5,457,000 after buying an additional 312,680 shares during the last quarter. Finally, Hsbc Holdings PLC grew its position in Patterson-UTI Energy by 90.2% during the second quarter. Hsbc Holdings PLC now owns 172,117 shares of the oil and gas company’s stock valued at $1,588,000 after buying an additional 81,640 shares during the period. Institutional investors own 97.91% of the company’s stock.

Patterson-UTI Energy Company Profile

(Get Free Report)

Patterson-UTI Energy provides contract drilling and related services to oil and natural gas exploration and production companies. Its offerings include land-based drilling rigs, directional drilling, pressure pumping and other well-completion services, as well as equipment and technologies used in drilling operations. The company serves customers across major U.S. oil and gas regions, including the Permian Basin and other active shale areas. Its operations combine services that support wells through multiple stages, from drilling to completion.