Q4 EPS Estimates for PTEN Cut by Capital One Financial

Patterson-UTI Energy, Inc. (NASDAQ:PTEN) – Equities research analysts at Capital One Financial dropped their Q4 2024 earnings per share (EPS) estimates for shares of Patterson-UTI Energy in a research report issued on Wednesday, November 20th. Capital One Financial analyst D. Becker now forecasts that the oil and gas company will post earnings per share of ($0.10) for the quarter, down from their prior estimate of ($0.04). The consensus estimate for Patterson-UTI Energy’s current full-year earnings is $0.12 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.

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

Patterson-UTI Energy Stock Performance

Shares of PTEN opened at $8.36 on Friday. The firm has a fifty day simple moving average of $8.09 and a 200 day simple moving average of $9.30. Patterson-UTI Energy has a 12 month low of $7.38 and a 12 month high of $12.65. The company has a current ratio of 1.52, a quick ratio of 1.32 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $3.26 billion, a price-to-earnings ratio of -3.82 and a beta of 2.12.

Institutional Investors Weigh In On Patterson-UTI Energy

A number of institutional investors and hedge funds have recently bought and sold shares of PTEN. Vanguard Group Inc. boosted its stake in Patterson-UTI Energy by 3.5% in the first 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 in the last quarter. Pacer Advisors Inc. grew its holdings in shares of Patterson-UTI Energy by 35.9% during the 3rd 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 raised its position in Patterson-UTI Energy by 9.6% in the 3rd quarter. State Street Corp now owns 15,435,258 shares of the oil and gas company’s stock worth $118,080,000 after purchasing an additional 1,352,840 shares during the period. Geode Capital Management LLC boosted its position in Patterson-UTI Energy by 5.6% during the third quarter. Geode Capital Management LLC now owns 8,980,881 shares of the oil and gas company’s stock valued at $68,717,000 after buying an additional 478,064 shares during the period. Finally, Deprince Race & Zollo Inc. grew its stake in shares of Patterson-UTI Energy by 14.7% during the second 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 owned by hedge funds and other institutional investors.

Patterson-UTI Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.32 annualized dividend and a yield of 3.83%. Patterson-UTI Energy’s dividend payout ratio is currently -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.