Patterson-UTI (PTEN) reported earnings 30 days ago. What's next for the stock?
Oil above $80 is boosting the outlook for Patterson-UTI and Cactus as Middle East tensions support crude prices and upstream activity.
The mean of analysts' price targets for Patterson-UTI (PTEN) points to a 37.9% upside in the stock. While this highly sought-after metric has not proven reasonably effective, strong agreement among analysts in raising earnings estimates does indicate an upside in the stock.
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
Here is how Patterson-UTI (PTEN) and SunCoke Energy (SXC) have performed compared to their sector so far this year.
The headline numbers for Patterson-UTI (PTEN) give insight into how the company performed in the quarter ended June 2026, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
Patterson-UTI's longer contracts, higher dayrates and packed frac calendar point to better cash flow, but losses and commodity exposure remain.
Patterson-UTI (PTEN) reported break-even quarterly earnings per share versus the Zacks Consensus Estimate of a loss of $0.03. This compares to a loss of $0.06 per share a year ago.
While the top- and bottom-line numbers for Patterson-UTI (PTEN) give a sense of how the business performed in the quarter ended June 2026, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
The mean of analysts' price targets for Patterson-UTI (PTEN) points to a 25.8% upside in the stock. While this highly sought-after metric has not proven reasonably effective, strong agreement among analysts in raising earnings estimates does indicate an upside in the stock.
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
Patterson-UTI (PTEN) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.