Patterson-UTI Energy, Inc. (PTEN)

Patterson-UTI Energy's stock experienced a decline of 28.37% from January 2, 2025, to December 31, 2025, but has gained 11.23% over the past 30 days and 30.91% over the past 90 days as of January 8, 2026. In Q3 2025, the company reported total revenue of $1.2 billion, a net loss attributable to common stockholders of $36 million, and an adjusted net loss of $21 million, with adjusted EBITDA at $219 million, and returned $64 million to shareholders. For Q4 2025, management expected drilling services adjusted gross profit to be down approximately 5% from Q3, and completion services adjusted gross profit to be around $85 million, and anticipates lower capital expenditures in 2026 while maintaining its fleet and investing in new technologies, and remains committed to returning at least 50% of annual free cash flow to shareholders. Analyst ratings have been updated by several research firms, with some raising price objectives and ratings, while others lowered them. The 2023 merger with NexTier significantly expanded Patterson-UTI's market presence, now controlling nearly 20% of the North American market for drilling and completions services, which is expected to enhance earnings growth and operating leverage.

Patterson-UTI Energy experiences demand seasonality, particularly in its completion activity, with management anticipating "normal seasonality in completion activity during the fourth quarter." Despite this, the company expects drilling activity to remain relatively steady into 2026, and there is a strengthening outlook for natural gas drilling and completion activity in 2026, driven by physical LNG takeaway coming into focus.

Patterson-UTI Energy, Inc. (PTEN) provides drilling and completion services to oil and natural gas exploration and production companies, operating in the Oil & Gas Drilling sector and Oilfield Services industry. The company's core business is structured across three main segments: Drilling Services, Completion Services, and Drilling Products. Drilling services include contract drilling, directional drilling, oilfield technology, electrical controls and automation businesses, measurement-while-drilling (MWD) services, and rental of downhole performance motors. Completion Services include hydraulic fracturing, wireline and pumping, completion support, cementing, pressure pumping, power solutions natural gas fueling, and last mile logistics and storage businesses. Drilling Products include manufacturing, sale, and rental of matrix and steel-bodied polycrystalline diamond compact drill bits, and rental of oilfield tools.

Patterson-UTI Energy, Inc. primarily provides its services in the United States and western Canada. The company also offers contract drilling services in Colombia and is experiencing a growing rig count in Argentina.

Patterson-UTI Energy maintains a reputation for operational excellence, safety, and technological innovation within the oilfield services sector. The company invests in upgrading its fleet and developing new technologies to enhance efficiency and reduce environmental impact, solidifying its reputation for reliable service delivery and customer collaboration. Management commentary from Q3 2025 highlighted "relative margin resiliency" due to customers relying on high-end service providers and the company's technology edge. The 2023 merger with NexTier also expanded its full-suite service offerings and market presence, contributing to its standing as a dominant force in North American drilling and completions.

Institutional investors hold approximately 97.91% of Patterson-UTI Energy, Inc.'s stock as of August 1, 2025, with major shareholders including BlackRock, Inc., Vanguard Group Inc., and Blackstone Inc. Insider ownership stands at approximately 2.64% as of July 29, 2025, with Bep Diamond Topco LP being the largest individual shareholder, owning 34.90 million shares, representing 9.20% of the company.