Patterson-UTI Energy, Inc. $PTEN Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. trimmed its stake in shares of Patterson-UTI Energy, Inc. (NASDAQ:PTEN) by 1.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 42,214,498 shares of the oil and gas company’s stock after selling 581,590 shares during the quarter. Vanguard Group Inc. owned about 0.11% of Patterson-UTI Energy worth $257,931,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in PTEN. Quarry LP raised its position in shares of 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 purchasing an additional 3,862 shares during the period. Versant Capital Management Inc raised its position in shares of Patterson-UTI Energy by 127.3% during the 3rd quarter. Versant Capital Management Inc now owns 5,970 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 3,343 shares during the period. First Horizon Corp raised its position in shares of Patterson-UTI Energy by 58.5% during the 4th quarter. First Horizon Corp now owns 5,554 shares of the oil and gas company’s stock worth $34,000 after purchasing an additional 2,049 shares during the period. Aster Capital Management DIFC Ltd acquired a new stake in shares of Patterson-UTI Energy during the 3rd quarter worth approximately $37,000. Finally, EverSource Wealth Advisors LLC grew its position 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 worth $51,000 after acquiring an additional 7,171 shares during the last quarter. 97.91% of the stock is currently owned by institutional investors and hedge funds.

Patterson-UTI Energy Stock Up 0.1%

Shares of PTEN stock opened at $11.42 on Friday. Patterson-UTI Energy, Inc. has a 1 year low of $5.10 and a 1 year high of $12.62. The stock has a market cap of $4.34 billion, a PE ratio of -36.84 and a beta of 0.64. The business’s fifty day moving average is $10.39 and its 200-day moving average is $7.99. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.63 and a current ratio of 1.84.

Patterson-UTI Energy (NASDAQ:PTEN) last issued its quarterly earnings results 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 return on equity of 2.32% and a negative net margin of 2.56%.The company had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.11 billion. The firm’s revenue for the quarter was down 12.7% on a year-over-year basis. Equities analysts expect that Patterson-UTI Energy, Inc. will post -0.21 earnings per share for the current fiscal year.

Patterson-UTI Energy Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PTEN. 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 report on Tuesday, April 7th. Barclays raised shares of Patterson-UTI Energy from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $10.00 to $15.00 in a report on Thursday. Capital One Financial raised shares of Patterson-UTI Energy from an “equal weight” rating to an “overweight” rating and set a $12.00 price objective on the stock in a report on Monday, April 20th. Bank of America reaffirmed a “buy” rating on shares of Patterson-UTI Energy in a report on Monday, March 2nd. Finally, Citigroup increased their price objective on shares of Patterson-UTI Energy from $9.00 to $11.00 and gave the stock a “neutral” rating in a report on Wednesday, April 15th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Patterson-UTI Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $11.80.

Key Stories Impacting Patterson-UTI Energy

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

Insider Activity

In other news, Director Cesar Jaime sold 10,000 shares of Patterson-UTI Energy stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $12.29, for a total transaction of $122,900.00. Following the transaction, the director directly owned 77,462 shares in the company, valued at approximately $952,007.98. This trade represents a 11.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert Wayne Drummond, Jr. sold 322,699 shares of Patterson-UTI Energy stock in a transaction on Friday, May 1st. The shares were sold at an average price of $12.04, for a total value of $3,885,295.96. Following the transaction, the director owned 1,190,248 shares in the company, valued at approximately $14,330,585.92. This trade represents a 21.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 808,949 shares of company stock worth $9,387,035. 2.20% of the stock is owned by company insiders.

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.