Patterson-UTI Energy (NASDAQ:PTEN) Director Sells $3,885,295.96 in Stock

Patterson-UTI Energy, Inc. (NASDAQ:PTEN) Director Robert Wayne Drummond, Jr. sold 322,699 shares of the stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $12.04, for a total transaction of $3,885,295.96. Following the transaction, the director directly owned 1,190,248 shares of the company’s stock, valued at $14,330,585.92. This trade represents a 21.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Patterson-UTI Energy Trading Down 6.7%

Shares of PTEN stock opened at $11.58 on Thursday. 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 stock has a market capitalization of $4.40 billion, a price-to-earnings ratio of -37.35 and a beta of 0.64. Patterson-UTI Energy, Inc. has a 12-month low of $5.10 and a 12-month high of $12.62. The stock’s 50-day moving average price is $10.33 and its 200-day moving average price is $7.95.

Patterson-UTI Energy (NASDAQ:PTEN) last released 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. Patterson-UTI Energy had a negative return on equity of 2.32% and a negative net margin of 2.56%.The business had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.11 billion. The company’s quarterly revenue was down 12.7% compared to the same quarter last year. Equities research analysts predict that Patterson-UTI Energy, Inc. will post -0.22 EPS for the current fiscal 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 given a dividend of $0.10 per share. The ex-dividend date is Monday, June 1st. This represents a $0.40 annualized dividend and a yield of 3.5%. Patterson-UTI Energy’s dividend payout ratio (DPR) is -129.03%.

Key Stories Impacting 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 Ratings Changes

Several equities research analysts have weighed in on PTEN shares. Barclays boosted their price objective on Patterson-UTI Energy from $8.00 to $10.00 and gave the stock an “equal weight” rating in a research note on Monday, April 27th. Morgan Stanley increased their price target on Patterson-UTI Energy from $7.00 to $10.00 and gave the company an “equal weight” rating in a report on Wednesday, April 15th. Capital One Financial raised 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 research note on Monday, April 20th. Citigroup increased their target price on shares of Patterson-UTI Energy from $9.00 to $11.00 and gave the company a “neutral” rating in a research note on Wednesday, April 15th. Finally, Susquehanna raised their target price 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. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $11.30.

Institutional Investors Weigh In On Patterson-UTI Energy

A number of institutional investors and hedge funds have recently modified their holdings of PTEN. Dimensional Fund Advisors LP grew its position 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 valued at $112,825,000 after acquiring an additional 1,465,102 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Patterson-UTI Energy by 7.9% during the third 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 during the last quarter. State Street Corp lifted its position in shares of Patterson-UTI Energy by 0.5% during the fourth quarter. State Street Corp now owns 15,265,086 shares of the oil and gas company’s stock worth $93,270,000 after purchasing an additional 75,560 shares during the last quarter. Sourcerock Group LLC boosted its stake in shares of Patterson-UTI Energy by 109.2% during the second quarter. Sourcerock Group LLC now owns 13,803,775 shares of the oil and gas company’s stock valued at $81,856,000 after purchasing an additional 7,205,652 shares during the period. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Patterson-UTI Energy by 110.8% during the fourth 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 purchasing an additional 5,551,276 shares during the period. 97.91% of the stock is owned by institutional investors.

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.