William Andrew Hendricks, Jr. Sells 250,000 Shares of Patterson-UTI Energy (NASDAQ:PTEN) Stock

Patterson-UTI Energy, Inc. (NASDAQ:PTEN) CEO William Andrew Hendricks, Jr. sold 250,000 shares of the company’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $11.85, for a total transaction of $2,962,500.00. Following the sale, the chief executive officer directly owned 2,823,103 shares of the company’s stock, valued at approximately $33,453,770.55. This represents a 8.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Patterson-UTI Energy Price Performance

NASDAQ PTEN opened at $12.41 on Wednesday. The company has a current ratio of 1.84, a quick ratio of 1.63 and a debt-to-equity ratio of 0.39. The company has a fifty day simple moving average of $10.27 and a 200 day simple moving average of $7.91. The company has a market cap of $4.71 billion, a P/E ratio of -40.03 and a beta of 0.64. Patterson-UTI Energy, Inc. has a 1 year low of $5.10 and a 1 year high of $12.62.

Patterson-UTI Energy (NASDAQ:PTEN) last posted its quarterly earnings data on Wednesday, April 22nd. The oil and gas company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.04. The business had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.11 billion. Patterson-UTI Energy had a negative net margin of 2.56% and a negative return on equity of 2.32%. Patterson-UTI Energy’s quarterly revenue was down 12.7% on a year-over-year basis. On average, sell-side analysts predict that Patterson-UTI Energy, Inc. will post -0.22 EPS for the current year.

Patterson-UTI Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Monday, June 1st. Patterson-UTI Energy’s dividend payout ratio is currently -129.03%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Royal Bank Of Canada upped their target price on shares of Patterson-UTI Energy from $12.00 to $14.00 and gave the company an “outperform” rating in a research note on Friday, April 24th. Morgan Stanley upped their target price on shares of Patterson-UTI Energy from $7.00 to $10.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 15th. Zacks Research upgraded shares of Patterson-UTI Energy from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 10th. Capital One Financial upgraded shares of Patterson-UTI Energy from an “equal weight” rating to an “overweight” rating and set a $12.00 target price for the company in a research note on Monday, April 20th. Finally, Piper Sandler upped their target price on shares of Patterson-UTI Energy from $10.00 to $12.00 and gave the company a “neutral” rating in a research note on Monday, April 27th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Patterson-UTI Energy currently has an average rating of “Hold” and a consensus price target of $11.30.

Patterson-UTI Energy News Roundup

Here are the key news stories impacting Patterson-UTI Energy this week:

• Positive Sentiment: Company declared a quarterly dividend of $0.10 per share (annualized $0.40, ~3.3% yield), giving income-focused investors a concrete cash return and supporting the stock’s appeal. MarketBeat: Patterson-UTI Dividend & News
• Positive Sentiment: Recent analyst moves include several target-price increases and upgrades (Bank of America, Capital One, Stifel among others) that raise the consensus target to roughly $11.30 and signal improving sell-side sentiment vs. last year. This can drive buying from funds that follow analyst action. MarketBeat: Analyst Coverage on PTEN
• Neutral Sentiment: Institutional ownership remains very high (~97.9%), with small recent reallocations reported among hedge funds and wealth managers; these moves are incremental and don’t yet signal a large shift in ownership direction. MarketBeat: Institutional Holdings
• Neutral Sentiment: News roundups noted broader hedge-fund and insider activity across the sector (contextual market flow commentary) — useful for sentiment but not PTEN-specific actionable news. InsiderMonkey: Hedge Fund & Insider Trading News
• Negative Sentiment: CEO William Andrew Hendricks, Jr. sold 250,000 shares (avg ~$11.85, ~$2.96M) — a sizable insider disposition that can be read as profit-taking and may weigh on sentiment. American Banking News: CEO Sells 250,000 Shares
• Negative Sentiment: Director Robert W. Drummond, Jr. materially trimmed his stake in multiple transactions (322,699 shares at ~ $12.04 and a later sale of 61,475 shares at ~$12.02), reducing his position significantly — another signal of insider selling pressure. InsiderTrades: Director Sells $738,929.50 in Stock

Hedge Funds Weigh In On Patterson-UTI Energy

Several large investors have recently bought and sold shares of the stock. O Shaughnessy Asset Management LLC increased its holdings in Patterson-UTI Energy by 11.4% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 13,901 shares of the oil and gas company’s stock valued at $85,000 after buying an additional 1,420 shares during the period. Aster Capital Management DIFC Ltd increased its holdings in Patterson-UTI Energy by 21.6% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 8,717 shares of the oil and gas company’s stock valued at $53,000 after buying an additional 1,547 shares during the period. Sage Rhino Capital LLC increased its holdings in Patterson-UTI Energy by 6.6% in the 4th quarter. Sage Rhino Capital LLC now owns 25,371 shares of the oil and gas company’s stock valued at $155,000 after buying an additional 1,575 shares during the period. The Manufacturers Life Insurance Company increased its holdings in Patterson-UTI Energy by 0.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 370,476 shares of the oil and gas company’s stock valued at $2,197,000 after buying an additional 1,915 shares during the period. Finally, First Horizon Corp increased its holdings in Patterson-UTI Energy by 58.5% in the 4th quarter. First Horizon Corp now owns 5,554 shares of the oil and gas company’s stock valued at $34,000 after buying an additional 2,049 shares during the period. 97.91% of the stock is currently owned by institutional investors and hedge funds.

About Patterson-UTI Energy

Patterson-UTI Energy provides a comprehensive suite of onshore contract drilling and pressure pumping services to exploration and production companies in North America. The company’s core offerings include land-based drilling rigs, directional drilling, hydraulic fracturing services, downhole tool rental and well-servicing equipment. By integrating drilling and completion capabilities, Patterson-UTI Energy offers operators a streamlined solution designed to improve operational efficiency and well performance.

Headquartered in Houston, Texas, Patterson-UTI Energy traces its origins to its founding in 1978 and was later incorporated in Delaware in 1996.