Patterson-UTI Energy (NASDAQ:PTEN) Stock Rating Lowered by Zacks Research

Posted by Geri Gentry on Jun 17th, 2026

Patterson-UTI Energy (NASDAQ:PTEN – Get Free Report) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

Several other brokerages have also recently commented on PTEN. Stifel Nicolaus boosted their price objective on shares of Patterson-UTI Energy from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Tuesday. Royal Bank Of Canada boosted their price target 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. Piper Sandler boosted their price target on shares of Patterson-UTI Energy from $12.00 to $13.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 27th. Capital One Financial raised shares of Patterson-UTI Energy from an “equal weight” rating to an “overweight” rating and set a $12.00 price target for the company in a research note on Monday, April 20th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Patterson-UTI Energy in a report on Tuesday, May 26th. Eight equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $12.40.

View Our Latest Research Report on Patterson-UTI Energy

Patterson-UTI Energy Stock Performance

NASDAQ PTEN opened at $10.35 on Monday. The company’s 50 day moving average is $11.41 and its 200-day moving average is $9.13. Patterson-UTI Energy has a 12-month low of $5.10 and a 12-month high of $13.08. The company has a quick ratio of 1.63, a current ratio of 1.84 and a debt-to-equity ratio of 0.39. The firm has a market cap of $3.93 billion, a P/E ratio of -33.39 and a beta of 0.61.

Patterson-UTI Energy (NASDAQ:PTEN – Get Free Report) last posted its quarterly earnings results on Wednesday, April 22nd. The oil and gas company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.04. The company had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.11 billion. Patterson-UTI Energy had a negative net margin of 2.56% and a negative return on equity of 2.32%. The company’s revenue for the quarter was down 12.7% on a year-over-year basis. Sell-side analysts predict that Patterson-UTI Energy will post -0.15 earnings per share for the current year.

Insider Activity at Patterson-UTI Energy

In related news, CAO Forrest C. Robinson sold 13,670 shares of the company’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $12.01, for a total transaction of $164,176.70. Following the completion of the sale, the chief accounting officer directly owned 56,842 shares in the company, valued at $682,672.42. This represents a 19.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO James Michael Holcomb sold 150,000 shares of the company’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $11.47, for a total transaction of $1,720,500.00. Following the sale, the chief operating officer owned 421,523 shares of the company’s stock, valued at $4,834,868.81. This represents a 26.25% 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. Insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Patterson-UTI Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada increased its position in Patterson-UTI Energy by 23.7% during the 1st quarter. Royal Bank of Canada now owns 169,995 shares of the oil and gas company’s stock valued at $1,397,000 after purchasing an additional 32,622 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased 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 valued at $1,904,000 after purchasing an additional 10,142 shares during the period. Goldman Sachs Group Inc. increased its position 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 during the period. United Services Automobile Association purchased a new position in Patterson-UTI Energy during the 1st quarter valued at $176,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Patterson-UTI Energy by 3.6% during the 1st 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 valued at $7,106,000 after purchasing an additional 30,217 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 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.