Susquehanna Issues Positive Forecast for Patterson-UTI Energy (NASDAQ:PTEN) Stock Price

Posted by Brenda Bartman on Oct 30th, 2026

Patterson-UTI Energy (NASDAQ:PTEN – Get Free Report) had its price objective lifted by research analysts at Susquehanna from $13.00 to $15.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has a “positive” rating on the oil and gas company’s stock. Susquehanna‘s price target would suggest a potential upside of 18.20% from the company’s current price.

PTEN has been the subject of several other reports. Zacks Research lowered Patterson-UTI Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 27th. Weiss Ratings raised shares of Patterson-UTI Energy from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, October 8th. UBS Group began coverage on shares of Patterson-UTI Energy in a research report on Friday, October 2nd. They set a “neutral” rating and a $13.00 price target for the company. JPMorgan Chase & Co. upgraded shares of Patterson-UTI Energy from an “underweight” rating to a “neutral” rating and set a $12.00 price objective for the company in a report on Friday, July 31st. Finally, Piper Sandler reaffirmed an “overweight” rating on shares of Patterson-UTI Energy in a research report on Friday, August 21st. Nine research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $13.32.

Read Our Latest Analysis on PTEN

Patterson-UTI Energy Stock Performance

PTEN opened at $12.69 on Friday. 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 company’s fifty day moving average price is $11.87 and its two-hundred day moving average price is $10.48. Patterson-UTI Energy has a 1-year low of $5.24 and a 1-year high of $13.39. The company has a market cap of $4.84 billion, a price-to-earnings ratio of -211.50 and a beta of 0.77.

Patterson-UTI Energy (NASDAQ:PTEN – Get Free Report) last released its quarterly earnings data on Wednesday, October 28th. The oil and gas company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.03. The firm had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.31 billion. Patterson-UTI Energy had a negative net margin of 0.52% and a negative return on equity of 0.58%. The business’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same period last year, the firm earned ($0.10) earnings per share. On average, analysts expect that Patterson-UTI Energy will post 0.01 EPS for the current fiscal year.

Insider Transactions at Patterson-UTI Energy

In related news, Director James Stewart sold 207,000 shares of the firm’s stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $11.54, for a total transaction of $2,388,780.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Seth Wexler sold 120,000 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the executive vice president directly owned 404,582 shares of the company’s stock, valued at approximately $5,158,420.50. This represents a 22.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,027,000 shares of company stock valued at $12,698,780 over the last 90 days. Company insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Patterson-UTI Energy

Institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in shares of Patterson-UTI Energy during the second quarter valued at about $577,234,000. Webs Creek Capital Management LP bought a new position in Patterson-UTI Energy in the second quarter worth about $53,729,934. Bank of America Corp DE purchased a new stake in Patterson-UTI Energy in the second quarter worth about $52,132,000. Bank of New York Mellon Corp purchased a new stake in Patterson-UTI Energy in the second quarter worth about $38,766,000. Finally, Dimensional Fund Advisors LP lifted its holdings in Patterson-UTI Energy by 14.9% in the first 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 during the period. Hedge funds and other institutional investors own 97.91% of the company’s stock.

Patterson-UTI Energy Company Profile

(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.