Patterson-UTI Energy Set to Release Q1 Earnings on April 22

Written by Emily J. Thompson, Senior Investment Analyst

Source: seekingalpha

Updated: Apr 21 2026

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PTEN+2.5%

Should l Buy PTEN?

Source: seekingalpha

Earnings Announcement: Patterson-UTI Energy is set to announce its Q1 2023 earnings on April 22 after market close, with consensus EPS estimate at -$0.10 and revenue forecast at $1.1 billion, reflecting a 14.1% year-over-year decline, indicating challenges in the current market.
Historical Performance Review: Over the past year, Patterson-UTI has beaten EPS estimates 50% of the time and revenue estimates 75% of the time, demonstrating a degree of resilience in a volatile market environment.
Expectation Adjustment Dynamics: In the last three months, EPS estimates have seen five upward revisions and no downward adjustments, while revenue estimates have experienced three upward revisions and six downward adjustments, indicating mixed market sentiment regarding the company's future performance, which may affect investor confidence.
CapEx and Dividend Policy: Patterson-UTI has signaled a 15% reduction in capital expenditures while increasing dividends by 25%, indicating a strategic focus on maintaining strong free cash flow while prioritizing shareholder returns, which may attract more investor interest.

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Analyst Views on PTEN

Wall Street analysts forecast PTEN stock price to fall

9 Analyst Rating

4 Buy

4 Hold

1 Sell

Moderate Buy

Current: 12.410

Low

6.00

Averages

7.22

High

9.00

Current: 12.410

Low

6.00

Averages

7.22

High

9.00

Barclays

Equal Weight

maintain

$8 -> $10

2026-04-27

Reason

Barclays

Price Target

$8 -> $10

AI Analysis

2026-04-27

maintain

Equal Weight

Reason

Barclays raised the firm's price target on Patterson-UTI to $10 from $8 and keeps an Equal Weight rating on the shares post the Q1 report. While the U.S. onshore rig count is flat relative to before the Iran conflict levels, the company's commentary indicated we'll start seeing rig adds in the next few weeks, the analyst tells investors in a research note. Barclays expects this to drive higher completions activity by Q3.

Piper Sandler

Neutral

maintain

$10 -> $12

2026-04-27

Reason

Piper Sandler

Price Target

$10 -> $12

2026-04-27

maintain

Neutral

Reason

Piper Sandler raised the firm's price target on Patterson-UTI to $12 from $10 and keeps a Neutral rating on the shares. The firm says the bullish tone on U.S. Land continued with both Liberty Energy (LBRT) and Patterson-UTI (PTEN) echoing tighter than appreciated frac markets with a lack of available capacity, indications of rig additions by the end of Q2, and improving market fundamentals to support OFS pricing power. This creates a positive rate of change story driving upward earnings revisions as EBITDA/fleet and daily margin begin to improve, Piper adds.

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About PTEN

Patterson-UTI Energy, Inc. is a provider of drilling and completion services to oil and natural gas exploration and production companies in the United States and other select countries, including contract drilling services, integrated well completion services and directional drilling services. Its Drilling Services segment provides a comprehensive suite of directional drilling services in major producing onshore oil and natural gas basins in the United States, and it provides services that improve the statistical accuracy of wellbore placement for directional and horizontal wells. Its Completion Services segment consists of a well completion business consists of services for hydraulic fracturing, wireline and pumping, completion support, and cementing. Its Drilling Products segment engages in the manufacturing and distribution of drill bits throughout North America. The Company's drilling equipment is used in oil and natural gas exploration and production and in mining operations.

About the author

Emily J. Thompson

Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.

Patterson-UTI Energy Insider Plans to Sell 3.06 Million Shares of Common Stock via Form 144

4 days agomoomoo

Insider Selling: William A. Hendricks plans to sell 250,000 shares of its common stock on May 1.
Market Value: The total market value of the shares being sold is approximately $3.06 million.

Patterson-UTI Energy Q1 2026 Earnings Call Insights

Apr 24 2026seekingalpha

Hiring Plans: Patterson-UTI Energy is set to hire in Q2 2026, reflecting confidence in future market demand amid heightened geopolitical risks in the Middle East, which are expected to reshape global oil supply and demand balances.
Drilling Services Outlook: The company anticipates an average rig count of around 90 rigs in Q2, with adjusted gross profit expected to be approximately $130 million, indicating improved profitability in a high-demand environment despite challenges in international business profitability.
Financial Performance: Total revenue for Q1 was $1.117 billion, with a net loss of $25 million or $0.06 per share, and adjusted EBITDA of $205 million, highlighting profitability pressures in a high-cost environment while maintaining stable cash flow with $337 million on hand.
Shareholder Returns: The board approved a quarterly dividend of $0.10 per share, demonstrating the company's commitment to shareholder returns despite facing risks from the Middle East and inflation pressures, while management remains focused on disciplined capital deployment.

Patterson-UTI (PTEN) Q1 2026 Earnings Transcript

Apr 23 2026NASDAQ.COM

Patterson-UTI Energy Declares Quarterly Dividend

Apr 23 2026seekingalpha

Quarterly Dividend Announcement: Patterson-UTI Energy has declared a quarterly dividend of $0.10 per share, consistent with previous distributions, indicating the company's ongoing ability to maintain stable cash flow, which is likely to attract income-seeking investors.
Yield Analysis: The forward yield of 3.7% reflects the company's attractiveness in the current market environment, potentially increasing investor interest in its stock, especially amid oil price fluctuations.
Shareholder Arrangement: The dividend will be payable on June 15, with a record date of June 1 and an ex-dividend date also on June 1, ensuring shareholders receive timely returns and further solidifying trust between the company and its investors.
Market Outlook: Despite rising oil prices, Patterson-UTI's CEO states that this will not lead to increased U.S. production, a perspective that may influence market expectations for the company's future growth and underscores its cautious approach to resource allocation.

Patterson-UTI Energy Q1 Earnings Beat Expectations

Apr 22 2026seekingalpha

Earnings Highlights: Patterson-UTI Energy reported a Q1 GAAP EPS of -$0.06, beating expectations by $0.04, indicating the company's ability to maintain some profitability amidst challenges, despite a 12.5% year-over-year revenue decline to $1.12 billion.
Revenue Performance: The Q1 revenue of $1.12 billion, while down 12.5% year-over-year, exceeded market expectations by $20 million, showcasing the company's resilience and adaptability in the current market environment.
Strategic Choices: Patterson-UTI prioritizes cash flow over expansion into data centers, reflecting a conservative financial strategy aimed at ensuring stable cash flow and operational flexibility in uncertain market conditions.
Market Outlook: Despite rising oil prices, Patterson-UTI's CEO stated that U.S. production will not increase, a perspective that may influence investor expectations regarding future supply and demand dynamics, thereby impacting the company's strategic decisions.