Key Points
- Insider sale: Patterson-UTI Energy director Robert Wayne Drummond Jr sold 164,775 shares on March 16 at an average price of $10.18, totaling $1,677,409.50, a sizable director sale that may create headline risk.
- Earnings beat but still unprofitable: The company reported Q4 EPS of ($0.02) versus consensus ($0.11) and revenue of $1.15 billion, modestly outperforming estimates while remaining loss-making with analysts forecasting about -$0.10 EPS for the year.
- Dividend raised: Patterson-UTI increased its quarterly dividend to $0.10 (annualized $0.40), implying a ~3.7% yield, even as analyst ratings are mixed and the payout ratio remains negative.
Patterson-UTI Energy, Inc. (NASDAQ:PTEN - Get Free Report) Director Robert Wayne Drummond, Jr. sold 164,775 shares of the firm's stock in a transaction on Monday, March 16th. The stock was sold at an average price of $10.18, for a total value of $1,677,409.50. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Patterson-UTI Energy Stock Up 0.2%
Shares of PTEN opened at $10.74 on Thursday. The company has a market capitalization of $4.08 billion, a PE ratio of -42.96 and a beta of 0.71. The stock's 50-day moving average price is $8.25 and its two-hundred day moving average price is $6.71. 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 12 month low of $5.10 and a 12 month high of $10.87.
Patterson-UTI Energy (NASDAQ:PTEN - Get Free Report) last issued its quarterly earnings data on Wednesday, February 4th. The oil and gas company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.11) by $0.09. Patterson-UTI Energy had a negative return on equity of 1.50% and a negative net margin of 1.94%.The company had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same period last year, the company earned ($0.13) earnings per share. The firm's revenue was down 1.0% compared to the same quarter last year. On average, analysts anticipate that Patterson-UTI Energy, Inc. will post -0.1 EPS for the current year.
Patterson-UTI Energy Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Monday, March 2nd were given a $0.10 dividend. This is an increase from Patterson-UTI Energy's previous quarterly dividend of $0.08. The ex-dividend date was Monday, March 2nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.7%. Patterson-UTI Energy's dividend payout ratio is presently -160.00%.
Patterson-UTI Energy News Summary
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
Wall Street Analysts Forecast Growth
Several equities research analysts have recently weighed in on PTEN shares. Citigroup increased their price objective 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. JPMorgan Chase & Co. restated an "underweight" rating and issued a $6.00 target price (down from $7.00) on shares of Patterson-UTI Energy in a report on Wednesday, December 10th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Patterson-UTI Energy in a report on Monday, December 29th. Royal Bank Of Canada lifted their price objective on Patterson-UTI Energy from $8.00 to $9.00 and gave the stock an "outperform" rating in a research report on Friday, February 6th. Finally, Bank of America reissued a "buy" rating on shares of Patterson-UTI Energy in a research note on Monday, March 2nd. Five research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, Patterson-UTI Energy presently has a consensus rating of "Hold" and an average target price of $8.11.
Get Our Latest Report on Patterson-UTI Energy
Institutional Investors Weigh In On Patterson-UTI Energy
A number of hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its stake in Patterson-UTI Energy by 8.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 18,465,704 shares of the oil and gas company's stock valued at $112,825,000 after purchasing an additional 1,465,102 shares in the last quarter. American Century Companies Inc. raised its holdings in Patterson-UTI Energy by 7.9% during the third quarter. American Century Companies Inc. now owns 15,599,294 shares of the oil and gas company's stock worth $80,804,000 after buying an additional 1,135,704 shares during the last quarter. State Street Corp lifted its stake in shares of Patterson-UTI Energy by 0.5% in the fourth quarter. State Street Corp now owns 15,265,086 shares of the oil and gas company's stock valued at $93,270,000 after buying an additional 75,560 shares in the last quarter. Sourcerock Group LLC grew its holdings 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 valued at $81,856,000 after buying an additional 7,205,652 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Patterson-UTI Energy by 110.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 10,559,219 shares of the oil and gas company's stock valued at $64,517,000 after buying an additional 5,551,276 shares during the last quarter. Institutional investors and hedge funds own 97.91% of the company's stock.
About Patterson-UTI Energy
(
Get Free Report)
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.
Further Reading
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