Engineers Gate Manager LP Acquires 419,919 Shares of Patterson-UTI Energy, Inc. $PTEN

Engineers Gate Manager LP raised its stake in Patterson-UTI Energy, Inc. (NASDAQ:PTEN) by 1,002.2% during the 2nd quarter, Holdings Channel.com reports. The firm owned 461,819 shares of the oil and gas company’s stock after buying an additional 419,919 shares during the quarter. Engineers Gate Manager LP’s holdings in Patterson-UTI Energy were worth $4,239,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Patterson-UTI Energy during the second quarter worth $32,000. Quarry LP grew its stake in Patterson-UTI Energy by 360.3% during the 3rd quarter. Quarry LP now owns 4,934 shares of the oil and gas company’s stock worth $26,000 after buying an additional 3,862 shares during the last quarter. Nykredit A S acquired a new position in Patterson-UTI Energy during the 2nd quarter valued at about $56,000. Rockefeller Capital Management L.P. raised its stake in Patterson-UTI Energy by 187.6% in the fourth quarter. Rockefeller Capital Management L.P. now owns 6,591 shares of the oil and gas company’s stock valued at $40,000 after buying an additional 4,299 shares during the last quarter. Finally, Allworth Financial LP purchased a new stake in Patterson-UTI Energy in the second quarter valued at about $68,000. 97.91% of the stock is owned by hedge funds and other institutional investors.

Key Patterson-UTI Energy News

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

• Positive Sentiment: Zacks raised its FY2027 EPS forecast to $0.08 from $0.04 and its FY2028 forecast to $0.41 from $0.38. The firm also lifted estimates for Q2 2027, Q3 2027, Q1 2028 and Q2 2028, suggesting expectations for improving profitability over the next several years. MarketBeat Patterson-UTI Energy estimates
• Positive Sentiment: Zacks increased its Q4 2026 estimate from a loss of $0.01 per share to breakeven, while projecting $0.04 EPS in Q2 2027 and $0.03 EPS in Q3 2027. These revisions improve the expected earnings trajectory, although the current full-year consensus remains a loss of $0.02 per share. MarketBeat Patterson-UTI Energy estimates
• Neutral Sentiment: Patterson-UTI averaged 101 revenue-earning U.S. drilling rigs in August and 100 rigs during the two months ended August 31. The activity level indicates continued utilization, but the update provided no day rates, contract durations, fleet-class utilization or margins, leaving the financial impact uncertain. Patterson-UTI averaged 101 August rigs
• Neutral Sentiment: Reported September short-interest data showed zero shares and a zero-day short-interest ratio, unchanged from the prior period. Because the figures appear incomplete or erroneous, they provide no meaningful signal about potential short-covering or selling pressure.

Patterson-UTI Energy Stock Down 0.4%

Shares of NASDAQ PTEN opened at $12.85 on Friday. The firm has a market cap of $4.90 billion, a price-to-earnings ratio of -55.87 and a beta of 0.66. The company’s 50-day simple moving average is $10.97 and its 200-day simple moving average is $10.77. The company has a quick ratio of 1.57, a current ratio of 1.75 and a debt-to-equity ratio of 0.40. Patterson-UTI Energy, Inc. has a 52-week low of $5.10 and a 52-week high of $13.39.

Patterson-UTI Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 3.1%. The ex-dividend date is Tuesday, September 1st. Patterson-UTI Energy’s payout ratio is presently -173.91%.

Insider Transactions at Patterson-UTI Energy

In other news, EVP Seth Wexler sold 120,000 shares of Patterson-UTI Energy stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $12.75, for a total transaction of $1,530,000.00. Following the transaction, the executive vice president owned 404,582 shares in the company, valued at $5,158,420.50. The trade was a 22.88% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert Wayne Drummond, Jr. sold 198,395 shares of the company’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $12.85, for a total value of $2,549,375.75. Following the completion of the transaction, the director owned 928,773 shares in the company, valued at $11,934,733.05. This represents a 17.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 777,000 shares of company stock valued at $9,721,280 in the last 90 days. Corporate insiders own 2.20% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on PTEN. Weiss Ratings restated a “sell (d+)” rating on shares of Patterson-UTI Energy in a research note on Friday, August 21st. Susquehanna increased their price objective on shares of Patterson-UTI Energy from $12.00 to $13.00 and gave the company a “positive” rating in a research report on Monday, August 3rd. Stifel Nicolaus lifted their target price on shares of Patterson-UTI Energy from $14.00 to $15.00 and gave the stock a “buy” rating in a research note on Tuesday, June 16th. Royal Bank Of Canada boosted their target price on shares of Patterson-UTI Energy from $14.00 to $15.00 and gave the stock an “outperform” rating in a research report on Friday, May 29th. Finally, Zacks Research lowered shares of Patterson-UTI Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 27th. Nine research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $13.25.

Patterson-UTI Energy Profile

Patterson-UTI Energy, Inc (NASDAQ: PTEN) is an energy-services company that provides drilling, completion, and production-related services to oil and natural gas operators. Its operations support the development of unconventional and other onshore energy resources, primarily in North America.

The company’s offerings include contract land drilling, pressure pumping, well completion services, directional drilling, downhole tools, and related drilling technologies. Patterson-UTI also provides equipment, technical services, and other solutions used throughout the well-construction and completion process.

Patterson-UTI traces its history to the late 1970s and expanded its service platform through acquisitions and strategic combinations.