Intech Investment Management LLC Sells 139,522 Shares of Patterson-UTI Energy, Inc. $PTEN

Intech Investment Management LLC decreased its holdings in shares of Patterson-UTI Energy, Inc. (NASDAQ:PTEN) by 39.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 215,342 shares of the oil and gas company’s stock after selling 139,522 shares during the period. Intech Investment Management LLC’s holdings in Patterson-UTI Energy were worth $1,316,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Citigroup Inc. grew its holdings in shares of Patterson-UTI Energy by 10.3% during the third quarter. Citigroup Inc. now owns 1,489,694 shares of the oil and gas company’s stock worth $7,717,000 after purchasing an additional 139,561 shares during the last quarter. Public Sector Pension Investment Board grew its holdings in shares of Patterson-UTI Energy by 14.2% during the third quarter. Public Sector Pension Investment Board now owns 1,367,213 shares of the oil and gas company’s stock worth $7,082,000 after purchasing an additional 169,816 shares during the last quarter. Magnetar Financial LLC grew its holdings in shares of Patterson-UTI Energy by 728.4% during the third quarter. Magnetar Financial LLC now owns 280,919 shares of the oil and gas company’s stock worth $1,455,000 after purchasing an additional 247,010 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of Patterson-UTI Energy by 141.3% during the fourth quarter. SG Americas Securities LLC now owns 183,804 shares of the oil and gas company’s stock worth $1,123,000 after purchasing an additional 107,638 shares during the last quarter. Finally, Tudor Investment Corp ET AL purchased a new position in shares of Patterson-UTI Energy during the third quarter worth about $2,206,000. Institutional investors own 97.91% of the company’s stock.

Insiders Place Their Bets

In other Patterson-UTI Energy news, COO James Michael Holcomb sold 150,000 shares of Patterson-UTI Energy stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $11.47, for a total value of $1,720,500.00. Following the sale, the chief operating officer owned 421,523 shares of the company’s stock, valued at approximately $4,834,868.81. The trade was a 26.25% 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. Also, Director Robert Wayne Drummond, Jr. sold 61,475 shares of Patterson-UTI Energy stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $12.02, for a total value of $738,929.50. Following the completion of the sale, the director directly owned 1,128,773 shares in the company, valued at $13,567,851.46. This represents a 5.16% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 958,949 shares of company stock worth $11,107,535 over the last quarter. 2.20% of the stock is owned by company insiders.

Patterson-UTI Energy News Roundup

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

• Positive Sentiment: Goldman Sachs raised its price target on Patterson-UTI Energy to $13.00 from $11.00 and maintained a buy rating, reinforcing a more constructive view of the stock. Benzinga article
• Positive Sentiment: Zacks Research lifted earnings estimates across several periods, including FY2026, FY2027, and FY2028, signaling expectations for better long-term earnings trends at Patterson-UTI Energy. MarketBeat report
• Neutral Sentiment: Patterson-UTI Energy reported an average of 92 drilling rigs operating in the United States in May 2026, indicating stable activity but not a major surprise versus recent operating trends. Access Newswire article

Wall Street Analyst Weigh In

Several brokerages have issued reports on PTEN. Citigroup raised their price objective on Patterson-UTI Energy from $9.00 to $11.00 and gave the stock a “neutral” rating in a report on Wednesday, April 15th. Piper Sandler raised their price objective on Patterson-UTI Energy from $12.00 to $13.00 and gave the stock a “neutral” rating in a report on Wednesday, May 27th. Capital One Financial raised Patterson-UTI Energy from an “equal weight” rating to an “overweight” rating and set a $12.00 price objective on the stock in a report on Monday, April 20th. Barclays raised Patterson-UTI Energy from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $10.00 to $15.00 in a report on Thursday, May 7th. Finally, Susquehanna raised their price target on Patterson-UTI Energy from $13.00 to $14.00 and gave the stock a “positive” rating in a report on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $12.30.

Patterson-UTI Energy Stock Performance

NASDAQ PTEN opened at $11.51 on Friday. The company has a quick ratio of 1.63, a current ratio of 1.84 and a debt-to-equity ratio of 0.39. Patterson-UTI Energy, Inc. has a 52-week low of $5.10 and a 52-week high of $13.08. The business’s 50-day moving average price is $11.34 and its 200 day moving average price is $8.83. The firm has a market cap of $4.37 billion, a P/E ratio of -37.13 and a beta of 0.61.

Patterson-UTI Energy (NASDAQ:PTEN) last announced its quarterly earnings data on Wednesday, April 22nd. The oil and gas company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.04. Patterson-UTI Energy had a negative return on equity of 2.32% and a negative net margin of 2.56%.The company had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.11 billion. The business’s quarterly revenue was down 12.7% compared to the same quarter last year. On average, equities research analysts expect that Patterson-UTI Energy, Inc. will post -0.15 earnings per share for the current year.

Patterson-UTI Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend is Monday, June 1st. Patterson-UTI Energy’s payout ratio is currently -129.03%.

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.