Patterson-UTI Energy (NASDAQ:PTEN) Trading 7.5% Higher – Time to Buy?

Posted by Stanley Muller on Jul 7th, 2026

Patterson-UTI Energy, Inc. (NASDAQ:PTEN – Get Free Report)’s share price was up 7.5% during mid-day trading on Tuesday . The company traded as high as $9.18 and last traded at $9.1990. 5,629,676 shares were traded during trading, a decline of 46% from the average session volume of 10,382,104 shares. The stock had previously closed at $8.56.

Wall Street Analyst Weigh In

Several research firms recently issued reports on PTEN. Morgan Stanley upped their price objective on shares of Patterson-UTI Energy from $7.00 to $10.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 15th. Barclays raised shares of Patterson-UTI Energy from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $10.00 to $15.00 in a research report on Thursday, May 7th. Capital One Financial upgraded 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 report on Monday, April 20th. Citigroup dropped their price objective on Patterson-UTI Energy from $11.00 to $10.50 and set a “neutral” rating on the stock in a research note on Monday, June 29th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Patterson-UTI Energy in a research report on Tuesday, May 26th. Eight research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $12.35.

View Our Latest Stock Analysis on PTEN

Patterson-UTI Energy Trading Up 7.5%

The company has a debt-to-equity ratio of 0.39, a current ratio of 1.84 and a quick ratio of 1.63. The company’s 50 day moving average is $11.17 and its two-hundred day moving average is $9.46. The firm has a market cap of $3.49 billion, a P/E ratio of -29.72 and a beta of 0.62.

Patterson-UTI Energy (NASDAQ:PTEN – Get Free Report) last issued 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 firm had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.11 billion. Patterson-UTI Energy had a negative return on equity of 2.32% and a negative net margin of 2.56%.Patterson-UTI Energy’s quarterly revenue was down 12.7% compared to the same quarter last year. On average, sell-side analysts predict that Patterson-UTI Energy, Inc. will post -0.14 earnings per share for the current year.

Patterson-UTI Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were paid a dividend of $0.10 per share. The ex-dividend date was Monday, June 1st. This represents a $0.40 dividend on an annualized basis and a yield of 4.3%. Patterson-UTI Energy’s payout ratio is currently -129.03%.

Insider Transactions at Patterson-UTI Energy

In other news, Director Cesar Jaime sold 10,000 shares of Patterson-UTI Energy stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $12.29, for a total transaction of $122,900.00. Following the sale, the director directly owned 77,462 shares in the company, valued at approximately $952,007.98. The trade was a 11.43% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William Andrew Hendricks, Jr. sold 200,000 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer directly owned 2,542,474 shares in the company, valued at approximately $29,594,397.36. The trade was a 7.29% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 1,007,844 shares of company stock worth $11,922,302. 2.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Patterson-UTI Energy

A number of institutional investors have recently added to or reduced their stakes in PTEN. Dimensional Fund Advisors LP raised its holdings in shares of Patterson-UTI Energy by 14.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 21,211,576 shares of the oil and gas company’s stock worth $229,732,000 after buying an additional 2,745,872 shares in the last quarter. State Street Corp boosted its stake in Patterson-UTI Energy by 0.5% in the 4th quarter. State Street Corp now owns 15,265,086 shares of the oil and gas company’s stock valued at $93,270,000 after buying an additional 75,560 shares in the last quarter. Sourcerock Group LLC boosted its stake in Patterson-UTI Energy by 109.2% in the 2nd quarter. Sourcerock Group LLC now owns 13,803,775 shares of the oil and gas company’s stock valued at $81,856,000 after buying an additional 7,205,652 shares in the last quarter. Goldman Sachs Group Inc. grew its position in 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 valued at $64,517,000 after acquiring an additional 5,551,276 shares during the period. Finally, Principal Financial Group Inc. raised its stake in Patterson-UTI Energy by 11.0% during the first quarter. Principal Financial Group Inc. now owns 9,450,347 shares of the oil and gas company’s stock worth $102,347,000 after acquiring an additional 934,766 shares in the last quarter. 97.91% of the stock is owned by institutional investors and hedge funds.

Patterson-UTI Energy Company Profile

(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.