Q4 EPS Estimates for PTEN Lowered by Capital One Financial

Patterson-UTI Energy, Inc. (NASDAQ:PTEN) – Stock analysts at Capital One Financial lowered their Q4 2024 earnings per share (EPS) estimates for Patterson-UTI Energy in a report issued on Wednesday, November 20th. Capital One Financial analyst D. Becker now forecasts that the oil and gas company will post earnings of ($0.10) per share 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.

A number of other equities research analysts also recently weighed in on the stock. Raymond James cut 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 report on Friday, October 25th. Citigroup dropped their price target on Patterson-UTI Energy from $11.00 to $10.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. Susquehanna lowered their price objective on shares of Patterson-UTI Energy from $13.00 to $10.00 and set a “positive” rating on the stock in a research report on Friday, October 11th. ATB Capital lowered their price target on shares of Patterson-UTI Energy from $12.00 to $11.00 and set an “outperform” rating on the stock in a report on Wednesday, September 4th. Finally, Barclays lowered their target price on Patterson-UTI Energy from $14.00 to $12.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. One research 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 a consensus rating of “Moderate Buy” and a consensus price target of $11.88.

Patterson-UTI Energy Stock Performance

Shares of PTEN opened at $8.36 on Friday. The firm has a market capitalization of $3.26 billion, a PE ratio of -3.82 and a beta of 2.12. The company has a quick ratio of 1.32, a current ratio of 1.52 and a debt-to-equity ratio of 0.35. The firm has a 50-day moving average price of $8.09 and a 200 day moving average price of $9.30. Patterson-UTI Energy has a 52-week low of $7.38 and a 52-week high of $12.65.

Hedge Funds Weigh In On Patterson-UTI Energy

Hedge funds have recently made changes to their positions in the business. Pacer Advisors Inc. bought a new position in shares of Patterson-UTI Energy during the 2nd quarter worth approximately $152,265,000. Ninepoint Partners LP bought a new stake in shares of Patterson-UTI Energy in the 2nd quarter worth about $51,800,000. American Century Companies Inc. increased its position in shares of Patterson-UTI Energy by 62.8% during the 2nd quarter. American Century Companies Inc. now owns 5,683,096 shares of the oil and gas company’s stock worth $58,877,000 after purchasing an additional 2,191,330 shares in the last quarter. Webs Creek Capital Management LP acquired a new stake in shares of Patterson-UTI Energy during the first quarter worth approximately $24,116,000. Finally, ARGA Investment Management LP boosted its stake in Patterson-UTI Energy by 1,066.6% in the third quarter. ARGA Investment Management LP now owns 1,960,723 shares of the oil and gas company’s stock worth $15,000,000 after purchasing an additional 1,792,655 shares in the last quarter. Institutional investors and hedge funds 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, December 16th. Shareholders of record on Monday, December 2nd will be given a $0.08 dividend. 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 -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.