Insider Selling: Patterson-UTI Energy (NASDAQ:PTEN) Director Sells $122,900.00 in Stock

Patterson-UTI Energy, Inc. (NASDAQ:PTEN) Director Cesar Jaime sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $12.29, for a total transaction of $122,900.00. Following the transaction, the director directly owned 77,462 shares of the company’s stock, valued at $952,007.98. This represents a 11.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Patterson-UTI Energy Price Performance

Shares of PTEN opened at $11.42 on Friday. The stock has a market capitalization of $4.34 billion, a P/E ratio of -36.84 and a beta of 0.64. Patterson-UTI Energy, Inc. has a twelve month low of $5.10 and a twelve month high of $12.62. The company has a 50 day moving average of $10.39 and a 200-day moving average of $7.99. 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 (NASDAQ:PTEN) last issued its quarterly earnings results on Wednesday, April 22nd. The oil and gas company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.04. The company 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 firm’s quarterly revenue was down 12.7% compared to the same quarter last year. As a group, equities research analysts forecast that Patterson-UTI Energy, Inc. will post -0.21 EPS for the current fiscal year.

Patterson-UTI Energy Dividend Announcement

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

Hedge Funds Weigh In On Patterson-UTI Energy

Hedge funds and other institutional investors have recently made changes to their positions in the company. Quarry LP grew its stake in shares of Patterson-UTI Energy by 360.3% in the third quarter. Quarry LP now owns 4,934 shares of the oil and gas company’s stock valued at $26,000 after buying an additional 3,862 shares in the last quarter. First Horizon Corp lifted its holdings in Patterson-UTI Energy by 58.5% during the 4th quarter. First Horizon Corp now owns 5,554 shares of the oil and gas company’s stock valued at $34,000 after purchasing an additional 2,049 shares during the last quarter. Versant Capital Management Inc lifted its holdings in Patterson-UTI Energy by 127.3% during the 3rd quarter. Versant Capital Management Inc now owns 5,970 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 3,343 shares during the last quarter. Rockefeller Capital Management L.P. lifted its holdings in Patterson-UTI Energy by 187.6% during the 4th quarter. Rockefeller Capital Management L.P. now owns 6,591 shares of the oil and gas company’s stock valued at $40,000 after purchasing an additional 4,299 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd acquired a new stake in Patterson-UTI Energy during the 3rd quarter valued at $37,000. 97.91% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on PTEN shares. Stifel Nicolaus raised their price target on shares of Patterson-UTI Energy from $11.00 to $14.00 and gave the stock a “buy” rating in a research note on Friday, April 24th. The Goldman Sachs Group raised their target price on shares of Patterson-UTI Energy from $9.00 to $11.00 and gave the company a “buy” rating in a research note on Wednesday, April 15th. Piper Sandler raised 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. Zacks Research raised shares of Patterson-UTI Energy from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 10th. Finally, Bank of America reissued a “buy” rating on shares of Patterson-UTI Energy in a research note on Monday, March 2nd. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $11.80.

Patterson-UTI Energy News Summary

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

• Positive Sentiment: Zacks Research raised earnings estimates across multiple periods, including FY2026-FY2028, and now sees PTEN reaching positive EPS by FY2028. The firm also keeps a Strong-Buy rating, which is a bullish signal for investors. Zacks estimate revisions
• Positive Sentiment: Barclays upgraded Patterson-UTI Energy from equal weight to overweight and lifted its price target to $15, suggesting analysts see further upside from recent levels. Barclays upgrade
• Neutral Sentiment: PTEN reported April drilling activity of 88 average U.S. rigs operating. This indicates steady operations, but it is mostly a routine update and does not by itself change the earnings outlook. Drilling activity report
• Negative Sentiment: Director Cesar Jaime sold 10,000 shares on May 5, which can weigh on sentiment because insider selling sometimes raises questions about management confidence. SEC filing

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.