Patterson-UTI Energy (NASDAQ:PTEN) Director Sells $738,929.50 in Stock

Patterson-UTI Energy, Inc. (NASDAQ:PTEN) Director Robert Wayne Drummond, Jr. sold 61,475 shares of the stock in a transaction on Monday, May 4th. The shares were sold at an average price of $12.02, for a total transaction of $738,929.50. Following the sale, the director directly owned 1,128,773 shares of the company’s stock, valued at $13,567,851.46. The trade was a 5.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Patterson-UTI Energy Trading Down 6.7%

Shares of PTEN opened at $11.58 on Thursday. The stock has a market capitalization of $4.40 billion, a P/E ratio of -37.35 and a beta of 0.64. The company has a quick ratio of 1.63, a current ratio of 1.84 and a debt-to-equity ratio of 0.39. The firm has a fifty day simple moving average of $10.33 and a two-hundred day simple moving average of $7.95. Patterson-UTI Energy, Inc. has a twelve month low of $5.10 and a twelve month high of $12.62.

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

Patterson-UTI Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $0.40 annualized dividend and a yield of 3.5%. Patterson-UTI Energy’s dividend payout ratio is presently -129.03%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its holdings in Patterson-UTI Energy by 8.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 18,465,704 shares of the oil and gas company’s stock worth $112,825,000 after purchasing an additional 1,465,102 shares in the last quarter. American Century Companies Inc. raised its holdings in Patterson-UTI Energy by 7.9% in the 3rd quarter. American Century Companies Inc. now owns 15,599,294 shares of the oil and gas company’s stock worth $80,804,000 after purchasing an additional 1,135,704 shares in the last quarter. State Street Corp increased its stake in shares of Patterson-UTI Energy by 0.5% in the 4th quarter. State Street Corp now owns 15,265,086 shares of the oil and gas company’s stock worth $93,270,000 after acquiring an additional 75,560 shares in the last quarter. Sourcerock Group LLC lifted its position in Patterson-UTI Energy by 109.2% during the 2nd quarter. Sourcerock Group LLC now owns 13,803,775 shares of the oil and gas company’s stock valued at $81,856,000 after acquiring an additional 7,205,652 shares during the period. Finally, Goldman Sachs Group Inc. lifted its position in Patterson-UTI Energy by 110.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 10,559,219 shares of the oil and gas company’s stock valued at $64,517,000 after acquiring an additional 5,551,276 shares during the period. 97.91% of the stock is currently owned by institutional investors.

Trending Headlines about Patterson-UTI Energy

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), which supports income-minded investors and can provide a floor under the stock.
• Positive Sentiment: Several analysts have raised targets or issued Buy ratings recently (Stifel, Capital One among them), showing pockets of bullish analyst support that could limit downside if fundamentals improve. MarketBeat Analyst Coverage
• Neutral Sentiment: Operational update — Patterson-UTI reported an average of 88 drilling rigs operating in the U.S. during April 2026; this is a plain activity metric (neither clearly accelerating nor collapsing) that investors will watch for trends in utilization and revenue. Drilling Activity Report
• Neutral Sentiment: Analyst consensus remains a “Hold” with an average price target around $11.30 — mixed analyst views (some upgrades, some holds/sells) mean no clear near-term catalyst from the sell-side. Analyst Consensus Report
• Negative Sentiment: Large insider sales: CEO William Andrew Hendricks Jr. sold 250,000 shares (~$2.96M at reported avg price) and Director Robert W. Drummond Jr. sold large blocks (322,699 shares and later 61,475 shares), representing multi‑million dollar exits that can spook investors and pressure the stock. These filings were disclosed with the SEC. CEO Sale Filing
• Negative Sentiment: Further director selling: additional disclosures show Drummond’s multiple sales reduced his stake materially (one filing shows a ~21% reduction of a holding). Heavy insider selling often weighs on sentiment, especially when clustered in a short period. Director Sale Details

Analyst Upgrades and Downgrades

PTEN has been the subject of several research reports. Zacks Research upgraded shares of Patterson-UTI Energy from a “hold” rating to a “strong-buy” rating in a report 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 price objective for the company in a report on Monday, April 20th. Susquehanna upped their price objective on shares of Patterson-UTI Energy from $10.00 to $13.00 and gave the stock a “positive” rating in a report on Tuesday, April 7th. Piper Sandler upped their price objective on shares of Patterson-UTI Energy from $10.00 to $12.00 and gave the stock a “neutral” rating in a report on Monday, April 27th. Finally, Citigroup upped their price objective on shares of Patterson-UTI Energy from $9.00 to $11.00 and gave the stock a “neutral” rating in a report on Wednesday, April 15th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $11.30.

Patterson-UTI Energy Company Profile

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.