Fintel reports that on May 8, 2026, Barclays upgraded their outlook for Patterson-UTI Energy (NasdaqGS:PTEN) from Equal-Weight to Overweight.
Analyst Price Forecast Suggests 3.10% Upside
As of April 28, 2026, the average one-year price target for Patterson-UTI Energy is $11.77/share. The forecasts range from a low of $8.08 to a high of $16.80. The average price target represents an increase of 3.10% from its latest reported closing price of $11.42 / share.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Patterson-UTI Energy is 4,420MM, a decrease of 5.22%. The projected annual non-GAAP EPS is 14.10.
What is the Fund Sentiment?
There are 401 funds or institutions reporting positions in Patterson-UTI Energy. This is an decrease of 226 owner(s) or 36.04% in the last quarter. Average portfolio weight of all funds dedicated to PTEN is 0.09%, an increase of 28.22%. Total shares owned by institutions decreased in the last three months by 5.70% to 469,267K shares. 
The put/call ratio of PTEN is 0.13, indicating a bullish outlook.
What are Other Shareholders Doing?
Blackstone Group holds 28,062K shares representing 7.39% ownership of the company. No change in the last quarter.
Vanguard Portfolio Management holds 27,060K shares representing 7.13% ownership of the company.
Vanguard Capital Management holds 16,621K shares representing 4.38% ownership of the company.
Fuller & Thaler Asset Management holds 16,433K shares representing 4.33% ownership of the company. In its prior filing, the firm reported owning 17,953K shares , representing a decrease of 9.25%. The firm increased its portfolio allocation in PTEN by 7.31% over the last quarter.
American Century Companies holds 15,736K shares representing 4.15% ownership of the company. In its prior filing, the firm reported owning 15,599K shares , representing an increase of 0.87%. The firm increased its portfolio allocation in PTEN by 17.53% over the last quarter.
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This story originally appeared on Fintel.
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