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An announcement from Patterson-UTI ( (PTEN) ) is now available.
Patterson-UTI Energy reported first-quarter 2026 revenue of $1.1 billion, a net loss attributable to common stockholders of $25 million and adjusted EBITDA of $205 million, and declared a $0.10 per share dividend payable June 15, 2026 to shareholders of record on June 1, 2026. Segment results showed $352 million in Drilling Services revenue with cost benefits from 2025 reductions, $680 million in Completion Services revenue despite winter storm disruptions, and $80 million in Drilling Products revenue that was pressured by higher costs and reduced offshore activity in the Middle East, while management highlighted strong free cash flow potential for 2026 and continued investment in technology and equipment to strengthen competitiveness.
The company noted that Completion Services utilization remained high, especially for natural gas-powered equipment, and that Drilling Products performance was resilient despite logistical challenges and rising international costs late in the quarter. Management said U.S. land activity in drilling and completions began to inflect in the second quarter amid improved commodity prices, prompting rig reactivations later in the quarter and anticipated further activations in the second half of 2026, underscoring a strategy focused on technology upgrades, balance sheet strength and ongoing capital returns to shareholders.
The most recent analyst rating on (PTEN) stock is a Buy with a $12.00 price target. To see the full list of analyst forecasts on Patterson-UTI stock, see the PTEN Stock Forecast page.
Spark’s Take on PTEN Stock
According to Spark, TipRanks’ AI Analyst, PTEN is a Neutral.
PTEN scores as a moderate-quality setup driven primarily by strong cash flow and solid balance-sheet flexibility despite ongoing earnings volatility and a 2025 revenue decline. Technicals are supportive but appear overbought, raising near-term risk. Valuation is harder to justify on earnings due to losses, partially offset by a ~3% dividend yield and management’s shareholder-return focus reinforced on the latest earnings call.
To see Spark’s full report on PTEN stock, click here.
More about Patterson-UTI
Patterson-UTI Energy, Inc. is a leading oilfield services provider offering contract drilling, integrated well completion, directional drilling and specialized bit solutions to oil and natural gas exploration and production companies in the United States and select international markets. The company operates across drilling services, completion services and drilling products, with exposure to regions including the United States and the Middle East.
Average Trading Volume: 11,049,947
Technical Sentiment Signal: Buy
Current Market Cap: $4.01B
Find detailed analytics on PTEN stock on TipRanks’ Stock Analysis page.