Robert Wayne Drummond, Jr. Sells 164,775 Shares of Patterson-UTI Energy (NASDAQ:PTEN) Stock

Patterson-UTI Energy, Inc. (NASDAQ:PTEN) Director Robert Wayne Drummond, Jr. sold 164,775 shares of Patterson-UTI Energy stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $10.18, for a total transaction of $1,677,409.50. The sale was disclosed in a filing with the SEC, which is available through this link.

Patterson-UTI Energy Price Performance

NASDAQ:PTEN opened at $10.72 on Friday. The company has a quick ratio of 1.46, a current ratio of 1.64 and a debt-to-equity ratio of 0.38. The firm has a market cap of $4.07 billion, a PE ratio of -42.88 and a beta of 0.71. Patterson-UTI Energy, Inc. has a 12 month low of $5.10 and a 12 month high of $11.09. The company’s 50-day moving average price is $8.32 and its two-hundred day moving average price is $6.74.

Patterson-UTI Energy (NASDAQ:PTEN) last posted its quarterly earnings data on Wednesday, February 4th. The oil and gas company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.09. The company had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.10 billion. Patterson-UTI Energy had a negative net margin of 1.94% and a negative return on equity of 1.50%. The company’s revenue was down 1.0% on a year-over-year basis. During the same quarter last year, the business posted ($0.13) earnings per share. On average, equities analysts anticipate that Patterson-UTI Energy, Inc. will post -0.1 EPS for the current fiscal year.

Patterson-UTI Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 2nd were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $0.40 dividend on an annualized basis and a yield of 3.7%. This is a positive change from Patterson-UTI Energy’s previous quarterly dividend of $0.08. Patterson-UTI Energy’s payout ratio is -160.00%.

Key Stories Impacting Patterson-UTI Energy

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

• Positive Sentiment: Zacks Research raised multiple quarterly and annual EPS estimates (small trims to expected losses across 2026–2028), signaling modestly improved profitability expectations that can support the stock. Read More.
• Positive Sentiment: Patterson-UTI increased its quarterly dividend to $0.10 (paid Mar. 16), implying a 3.7% yield and providing income support that can attract yield-focused investors. Read More.
• Neutral Sentiment: Analyst coverage remains mixed: several banks have adjusted targets and ratings (Buy/Hold/Sell mix) and the consensus rating is still “Hold” with an average target around $8.11, so upside is not uniformly endorsed. Read More.
• Neutral Sentiment: Large institutional ownership and recent position changes (several funds added shares) show continued institutional interest, which can both stabilize and amplify moves depending on flows. Read More.
• Negative Sentiment: Insider selling: Director Robert Wayne Drummond Jr. sold 164,775 shares on March 16 at about $10.18 each (~$1.68M). Such a sizable director sale can create headline risk and near‑term supply pressure even if for diversification or tax reasons. Read More. Read More.

Institutional Investors Weigh In On Patterson-UTI Energy

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Sourcerock Group LLC raised its position 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 worth $81,856,000 after acquiring an additional 7,205,652 shares during the last quarter. Holocene Advisors LP increased its position in Patterson-UTI Energy by 176.6% in the third quarter. Holocene Advisors LP now owns 9,228,022 shares of the oil and gas company’s stock worth $47,801,000 after purchasing an additional 5,891,956 shares during the period. Goldman Sachs Group Inc. increased its position in Patterson-UTI Energy by 110.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 10,559,219 shares of the oil and gas company’s stock worth $64,517,000 after purchasing an additional 5,551,276 shares during the period. UBS Group AG raised its holdings in Patterson-UTI Energy by 121.2% during the 4th quarter. UBS Group AG now owns 8,320,544 shares of the oil and gas company’s stock worth $50,839,000 after purchasing an additional 4,558,445 shares during the last quarter. Finally, Millennium Management LLC raised its holdings in Patterson-UTI Energy by 97.7% during the 3rd quarter. Millennium Management LLC now owns 8,989,351 shares of the oil and gas company’s stock worth $46,565,000 after purchasing an additional 4,442,700 shares during the last quarter. 97.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently commented on PTEN. Stifel Nicolaus increased their target price on Patterson-UTI Energy from $9.00 to $11.00 and gave the stock a “buy” rating in a report on Friday, February 6th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $6.00 price target (down from $7.00) on shares of Patterson-UTI Energy in a report on Wednesday, December 10th. Piper Sandler upped their price target on shares of Patterson-UTI Energy from $7.00 to $9.00 and gave the stock a “neutral” rating in a research report on Monday, February 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Patterson-UTI Energy in a report on Monday, December 29th. Finally, The Goldman Sachs Group raised their price objective on shares of Patterson-UTI Energy from $7.00 to $9.00 and gave the company a “buy” rating in a research report on Wednesday, March 4th. Five research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $8.11.

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.