Research Analysts Set Expectations for PTEN Q4 Earnings

Patterson-UTI Energy, Inc. (NASDAQ:PTEN) – Stock analysts at Capital One Financial reduced their Q4 2024 EPS estimates for Patterson-UTI Energy in a research note issued on Wednesday, November 20th. Capital One Financial analyst D. Becker now anticipates that the oil and gas company will post earnings per share of ($0.10) for the quarter, down from their previous forecast of ($0.04). The consensus estimate for Patterson-UTI Energy’s current full-year earnings is $0.11 per share. Capital One Financial also issued estimates for Patterson-UTI Energy’s Q1 2025 earnings at ($0.08) EPS, Q2 2025 earnings at ($0.04) EPS, Q3 2025 earnings at ($0.03) EPS, Q4 2025 earnings at ($0.06) EPS and FY2025 earnings at ($0.20) EPS.

A number of other brokerages have also weighed in on PTEN. Barclays decreased their price objective on shares of Patterson-UTI Energy from $14.00 to $12.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Raymond James decreased their price target on shares of Patterson-UTI Energy from $12.00 to $11.00 and set a “strong-buy” rating for the company in a research note on Friday, October 25th. Stifel Nicolaus dropped their price objective on Patterson-UTI Energy from $15.00 to $14.00 and set a “buy” rating on the stock in a research note on Friday, October 11th. Morgan Stanley reduced their price objective on Patterson-UTI Energy from $12.00 to $10.00 and set an “equal weight” rating on the stock in a report on Monday, September 16th. Finally, Citigroup lowered their target price on Patterson-UTI Energy from $11.00 to $10.00 and set a “buy” rating for the company in a report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $11.88.

Patterson-UTI Energy Stock Up 3.8 %

Shares of NASDAQ:PTEN opened at $8.68 on Friday. The business has a 50 day simple moving average of $8.11 and a two-hundred day simple moving average of $9.28. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.52 and a quick ratio of 1.32. The firm has a market capitalization of $3.38 billion, a PE ratio of -3.96 and a beta of 2.12. Patterson-UTI Energy has a 1 year low of $7.38 and a 1 year high of $12.65.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of PTEN. Vanguard Group Inc. raised its position in Patterson-UTI Energy by 3.5% during the 1st quarter. Vanguard Group Inc. now owns 46,595,620 shares of the oil and gas company’s stock worth $556,352,000 after buying an additional 1,554,020 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in Patterson-UTI Energy by 35.9% in the third quarter. Pacer Advisors Inc. now owns 19,972,894 shares of the oil and gas company’s stock valued at $152,793,000 after purchasing an additional 5,275,525 shares during the last quarter. State Street Corp boosted its holdings in Patterson-UTI Energy by 9.6% in the third quarter. State Street Corp now owns 15,435,258 shares of the oil and gas company’s stock valued at $118,080,000 after purchasing an additional 1,352,840 shares during the last quarter. Geode Capital Management LLC grew its position in Patterson-UTI Energy by 5.6% during the 3rd quarter. Geode Capital Management LLC now owns 8,980,881 shares of the oil and gas company’s stock worth $68,717,000 after purchasing an additional 478,064 shares during the period. Finally, Deprince Race & Zollo Inc. raised its stake in shares of Patterson-UTI Energy by 14.7% during the 2nd quarter. Deprince Race & Zollo Inc. now owns 6,069,499 shares of the oil and gas company’s stock valued at $62,880,000 after buying an additional 778,581 shares during the last quarter. 97.91% of the stock is currently owned by hedge funds and other institutional investors.

Patterson-UTI Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.08 per share. The ex-dividend date is Monday, December 2nd. This represents a $0.32 annualized dividend and a yield of 3.69%. Patterson-UTI Energy’s payout ratio is presently -14.61%.

Patterson-UTI Energy Company Profile

Patterson-UTI Energy, Inc, through its subsidiaries, engages in the provision of contract drilling services to oil and natural gas operators in the United States and internationally. It operates through three segments: Drilling Services, Completion Services, and Drilling Products. The Contract Drilling Services segment provides contract and directional drilling services in onshore oil and natural gas basins, as well as engages in the service and re-certification of equipment for drilling contractors, and provision of electrical controls and automation to the energy, marine and mining industries.