Atb Cap Markets Analysts Decrease Earnings Estimates for Patterson-UTI Energy, Inc. (NASDAQ:PTEN)

Patterson-UTI Energy, Inc. (NASDAQ:PTEN) – Research analysts at Atb Cap Markets decreased their Q4 2024 earnings per share estimates for shares of Patterson-UTI Energy in a research note issued on Wednesday, September 4th. Atb Cap Markets analyst W. Syed now forecasts that the oil and gas company will earn ($0.04) per share for the quarter, down from their previous estimate of $0.01. The consensus estimate for Patterson-UTI Energy’s current full-year earnings is $0.33 per share. Atb Cap Markets also issued estimates for Patterson-UTI Energy’s Q1 2025 earnings at $0.03 EPS, Q3 2025 earnings at $0.13 EPS, Q4 2025 earnings at $0.14 EPS, FY2025 earnings at $0.39 EPS, Q1 2026 earnings at $0.17 EPS and FY2026 earnings at $0.73 EPS.

Patterson-UTI Energy (NASDAQ:PTEN) last announced its quarterly earnings results on Wednesday, July 24th. The oil and gas company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.04). The firm had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.41 billion. Patterson-UTI Energy had a net margin of 2.28% and a return on equity of 4.49%.

A number of other analysts have also recently issued reports on PTEN. Piper Sandler cut their price objective on Patterson-UTI Energy from $14.00 to $12.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. Bank of America cut their price target on Patterson-UTI Energy from $14.00 to $12.50 and set a “buy” rating for the company in a report on Monday, July 15th. Susquehanna reduced their price objective on shares of Patterson-UTI Energy from $14.00 to $13.00 and set a “positive” rating for the company in a research report on Thursday, July 11th. Stifel Nicolaus cut their target price on shares of Patterson-UTI Energy from $19.00 to $16.00 and set a “buy” rating for the company in a research note on Tuesday, July 16th. Finally, ATB Capital reduced their target price on shares of Patterson-UTI Energy from $12.00 to $11.00 and set an “outperform” rating for the company in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Patterson-UTI Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $14.29.

Patterson-UTI Energy Stock Down 1.4 %

Shares of PTEN stock opened at $8.33 on Friday. Patterson-UTI Energy has a 52-week low of $8.28 and a 52-week high of $16.17. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.30 and a current ratio of 1.50. The stock has a market cap of $3.27 billion, a price-to-earnings ratio of 12.25 and a beta of 2.13. The firm’s 50-day moving average is $9.65 and its 200-day moving average is $10.66.

Hedge Funds Weigh In On Patterson-UTI Energy

Hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets grew its holdings in shares of Patterson-UTI Energy by 92.1% during the 4th quarter. BNP Paribas Financial Markets now owns 908,254 shares of the oil and gas company’s stock worth $9,809,000 after purchasing an additional 435,490 shares in the last quarter. Pingora Partners LLC acquired a new stake in Patterson-UTI Energy during the fourth quarter worth about $245,000. CANADA LIFE ASSURANCE Co increased its holdings in Patterson-UTI Energy by 25.4% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 497,262 shares of the oil and gas company’s stock valued at $5,931,000 after buying an additional 100,626 shares during the period. Edmond DE Rothschild Holding S.A. raised its position in shares of Patterson-UTI Energy by 37.8% in the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 1,350,000 shares of the oil and gas company’s stock valued at $14,580,000 after buying an additional 370,000 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of 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 acquiring an additional 1,554,020 shares during the period. Institutional investors own 97.91% of the company’s stock.

Patterson-UTI Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Tuesday, September 3rd will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 3.84%. The ex-dividend date of this dividend is Tuesday, September 3rd. Patterson-UTI Energy’s dividend payout ratio is currently 47.06%.

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.