Cesar Jaime Sells 10,000 Shares of Patterson-UTI Energy (NASDAQ:PTEN) Stock

Patterson-UTI Energy, Inc. (NASDAQ:PTEN) Director Cesar Jaime sold 10,000 shares of Patterson-UTI Energy stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $12.29, for a total value of $122,900.00. Following the completion of the sale, the director owned 77,462 shares in the company, valued at $952,007.98. This represents a 11.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Patterson-UTI Energy Stock Performance

Shares of Patterson-UTI Energy stock opened at $11.42 on Friday. The firm has a market cap of $4.34 billion, a PE ratio of -36.84 and a beta of 0.64. The company has a quick ratio of 1.63, a current ratio of 1.84 and a debt-to-equity ratio of 0.39. Patterson-UTI Energy, Inc. has a 52 week low of $5.10 and a 52 week high of $12.62. The business’s fifty day simple moving average is $10.39 and its 200-day simple moving average is $7.99.

Patterson-UTI Energy (NASDAQ:PTEN) last issued its quarterly earnings data on Wednesday, April 22nd. The oil and gas company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.04. Patterson-UTI Energy had a negative net margin of 2.56% and a negative return on equity of 2.32%. The firm had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.11 billion. The firm’s revenue for the quarter was down 12.7% on a year-over-year basis. Equities analysts forecast that Patterson-UTI Energy, Inc. will post -0.21 earnings per share for the current year.

Patterson-UTI Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Monday, June 1st. Patterson-UTI Energy’s payout ratio is -129.03%.

Wall Street Analyst Weigh In

PTEN has been the subject of a number of research analyst reports. Susquehanna increased their price objective on shares of Patterson-UTI Energy from $10.00 to $13.00 and gave the stock a “positive” rating in a research report on Tuesday, April 7th. The Goldman Sachs Group boosted their target price on Patterson-UTI Energy from $9.00 to $11.00 and gave the company a “buy” rating in a research report on Wednesday, April 15th. Royal Bank Of Canada raised their price target on Patterson-UTI Energy from $12.00 to $14.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. Barclays raised Patterson-UTI Energy from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $10.00 to $15.00 in a research note on Thursday. Finally, Piper Sandler boosted their price objective on Patterson-UTI Energy from $10.00 to $12.00 and gave the company a “neutral” rating in a report on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $11.80.

Institutional Investors Weigh In On Patterson-UTI Energy

A number of hedge funds have recently added to or reduced their stakes in PTEN. Quarry LP boosted 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 buying an additional 3,862 shares during the period. First Horizon Corp increased its position in shares of Patterson-UTI Energy by 58.5% during the fourth quarter. First Horizon Corp now owns 5,554 shares of the oil and gas company’s stock worth $34,000 after acquiring an additional 2,049 shares during the period. Versant Capital Management Inc raised its stake in shares of Patterson-UTI Energy by 127.3% in the third quarter. Versant Capital Management Inc now owns 5,970 shares of the oil and gas company’s stock valued at $31,000 after acquiring an additional 3,343 shares in the last quarter. Rockefeller Capital Management L.P. raised its stake in shares of 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 acquiring an additional 4,299 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd purchased a new position in Patterson-UTI Energy in the third quarter valued at $37,000. 97.91% of the stock is currently owned by institutional investors and hedge funds.

Patterson-UTI Energy News Roundup

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

• Positive Sentiment: Zacks Research raised earnings estimates across multiple periods, including FY2026-FY2028, and now sees PTEN reaching positive EPS by FY2028. The firm also keeps a Strong-Buy rating, which is a bullish signal for investors. Zacks estimate revisions
• Positive Sentiment: Barclays upgraded Patterson-UTI Energy from equal weight to overweight and lifted its price target to $15, suggesting analysts see further upside from recent levels. Barclays upgrade
• Neutral Sentiment: PTEN reported April drilling activity of 88 average U.S. rigs operating. This indicates steady operations, but it is mostly a routine update and does not by itself change the earnings outlook. Drilling activity report
• Negative Sentiment: Director Cesar Jaime sold 10,000 shares on May 5, which can weigh on sentiment because insider selling sometimes raises questions about management confidence. SEC filing

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.