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

Patterson-UTI Energy, Inc. (NASDAQ:PTEN) Director Robert Wayne Drummond, Jr. sold 164,775 shares of the company’s stock in a transaction that occurred on Monday, March 16th. The stock was 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 can be accessed through this hyperlink.

Patterson-UTI Energy Stock Performance

NASDAQ PTEN opened at $10.74 on Thursday. The firm’s 50 day simple moving average is $8.25 and its 200 day simple moving average is $6.71. The firm has a market capitalization of $4.08 billion, a price-to-earnings ratio of -42.96 and a beta of 0.71. The company has a current ratio of 1.64, a quick ratio of 1.46 and a debt-to-equity ratio of 0.38. Patterson-UTI Energy, Inc. has a 1 year low of $5.10 and a 1 year high of $10.87.

Patterson-UTI Energy (NASDAQ:PTEN) last announced its quarterly earnings data on Wednesday, February 4th. The oil and gas company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.09. The business had revenue of $1.15 billion during the quarter, compared to the consensus estimate 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 period in the previous year, the business earned ($0.13) earnings per share. As a group, research analysts expect that Patterson-UTI Energy, Inc. will post -0.1 earnings per share for the current fiscal year.

Patterson-UTI Energy Increases Dividend

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

Wall Street Analysts Forecast Growth

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

Institutional Trading of Patterson-UTI Energy

Several hedge funds and other institutional investors have recently made changes to their positions in PTEN. Royal Bank of Canada increased its stake in shares of Patterson-UTI Energy by 23.7% in the first quarter. Royal Bank of Canada now owns 169,995 shares of the oil and gas company’s stock valued at $1,397,000 after buying an additional 32,622 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Patterson-UTI Energy by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 231,637 shares of the oil and gas company’s stock worth $1,904,000 after buying an additional 10,142 shares during the period. Goldman Sachs Group Inc. grew its holdings in Patterson-UTI Energy by 4.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,747,463 shares of the oil and gas company’s stock worth $39,024,000 after acquiring an additional 220,422 shares during the last quarter. United Services Automobile Association acquired a new position in Patterson-UTI Energy in the 1st quarter valued at approximately $176,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Patterson-UTI Energy by 3.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 864,492 shares of the oil and gas company’s stock valued at $7,106,000 after acquiring an additional 30,217 shares during the period. 97.91% of the stock is currently owned by institutional investors.

Patterson-UTI Energy News Roundup

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

• Positive Sentiment: Zacks Research raised several quarterly and annual EPS estimates for PTEN, trimming expected losses across 2026–2028 (examples: FY2026 from ($0.40) to ($0.39); FY2027 from ($0.31) to ($0.28); FY2028 from ($0.14) to ($0.12); multiple quarterly estimates improved by ~$0.01). These upgrades suggest modestly improved near‑term profitability expectations that can support the stock. MarketBeat: PTEN Research Note
• Neutral Sentiment: Despite the Zacks upward revisions, the consensus full‑year estimate cited remains negative (around ($0.10) EPS), so the company is still expected to report losses—improvements are incremental rather than a full turnaround. MarketBeat: PTEN Research Note
• Negative Sentiment: Insider selling: Director Robert Wayne Drummond Jr. sold 164,775 shares on March 16 at roughly $10.18/share (~$1.68M). Large director sales can create headline risk and add near‑term supply pressure, even if they are routine (tax/diversification). SEC Form 4: Insider Sale InsiderTrades: Sale Details

Patterson-UTI Energy Company Profile

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.