VIRGINIA RETIREMENT SYSTEMS ET Al Purchases New Shares in Patterson-UTI Energy, Inc. $PTEN

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Patterson-UTI Energy, Inc. (NASDAQ:PTEN) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 128,400 shares of the oil and gas company’s stock, valued at approximately $1,179,000.

A number of other hedge funds have also recently added to or reduced their stakes in PTEN. Quarry LP increased its position in Patterson-UTI Energy by 360.3% in the 3rd quarter. Quarry LP now owns 4,934 shares of the oil and gas company’s stock valued at $26,000 after acquiring an additional 3,862 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Patterson-UTI Energy during the second quarter worth approximately $32,000. Rockefeller Capital Management L.P. lifted its position in shares of Patterson-UTI Energy by 187.6% during the fourth quarter. Rockefeller Capital Management L.P. now owns 6,591 shares of the oil and gas company’s stock worth $40,000 after purchasing an additional 4,299 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Patterson-UTI Energy by 494.6% during the second quarter. EverSource Wealth Advisors LLC now owns 8,621 shares of the oil and gas company’s stock valued at $51,000 after purchasing an additional 7,171 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd increased its holdings in shares of Patterson-UTI Energy by 21.6% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 8,717 shares of the oil and gas company’s stock valued at $53,000 after purchasing an additional 1,547 shares in the last quarter. Institutional investors own 97.91% of the company’s stock.

Patterson-UTI Energy Stock Down 0.4%

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

Patterson-UTI Energy Dividend Announcement

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

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. KeyCorp upgraded shares of Patterson-UTI Energy to an “overweight” rating in a research report on Wednesday, May 27th. Stifel Nicolaus increased their price objective on Patterson-UTI Energy from $14.00 to $15.00 and gave the company a “buy” rating in a research report on Tuesday, June 16th. Piper Sandler reissued an “overweight” rating on shares of Patterson-UTI Energy in a research note on Friday, August 21st. Susquehanna boosted their target price on Patterson-UTI Energy from $12.00 to $13.00 and gave the stock a “positive” rating in a research report on Monday, August 3rd. Finally, Royal Bank Of Canada upped their price target on Patterson-UTI Energy from $14.00 to $15.00 and gave the company an “outperform” rating in a research note on Friday, May 29th. Nine analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Patterson-UTI Energy presently has a consensus rating of “Moderate Buy” and an average target price of $13.25.

More 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.

Insider Buying and Selling at Patterson-UTI Energy

In related news, Director Robert Wayne Drummond, Jr. sold 198,395 shares of Patterson-UTI Energy stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $12.85, for a total transaction of $2,549,375.75. Following the completion of the sale, the director directly owned 928,773 shares of the company’s stock, valued at $11,934,733.05. The trade was a 17.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 value of $1,530,000.00. Following the sale, the executive vice president directly owned 404,582 shares of the company’s stock, valued at approximately $5,158,420.50. This trade represents a 22.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 777,000 shares of company stock worth $9,721,280. 2.20% of the stock is currently owned by insiders.

About Patterson-UTI Energy

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.