Key Points
- Director Cesar Jaime sold 10,000 shares on May 5 at an average price of $12.29 (totaling $122,900), reducing his holding by 11.43% to 77,462 shares, as disclosed on SEC Form 4.
- Patterson‑UTI announced a quarterly dividend of $0.10 per share (annualized $0.40) with an ex‑dividend date of June 1 and a payment date of June 15, implying a roughly 3.5% yield.
- Analyst sentiment has trended positive with multiple upgrades and higher price targets (consensus rating: Moderate Buy, target ~$11.80), even as the company reports negative margins and mixed recent results.
Patterson-UTI Energy, Inc. (NASDAQ:PTEN - Get Free Report) Director Cesar Jaime sold 10,000 shares of the company's stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $12.29, for a total value of $122,900.00. Following the sale, the director owned 77,462 shares of the company's stock, valued at $952,007.98. This trade represents a 11.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Patterson-UTI Energy Stock Performance
Shares of PTEN opened at $11.41 on Friday. The stock has a market capitalization of $4.33 billion, a P/E ratio of -36.81 and a beta of 0.64. 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, Inc. has a 1 year low of $5.10 and a 1 year high of $12.62. The company's fifty day moving average is $10.39 and its two-hundred day moving average is $7.99.
Patterson-UTI Energy (NASDAQ:PTEN - Get Free Report) last released its earnings results on Wednesday, April 22nd. The oil and gas company reported ($0.06) EPS for the quarter, topping 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 company had revenue of $1.12 billion during the quarter, compared to analysts' expectations of $1.11 billion. The company's revenue for the quarter was down 12.7% compared to the same quarter last year. On average, sell-side analysts predict that Patterson-UTI Energy, Inc. will post -0.22 earnings per share for the current year.
Patterson-UTI Energy Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be paid a dividend of $0.10 per share. 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 dividend payout ratio is -129.03%.
Analyst Ratings Changes
A number of analysts recently commented on the stock. The Goldman Sachs Group boosted their price objective on shares of Patterson-UTI Energy from $9.00 to $11.00 and gave the stock a "buy" rating in a report on Wednesday, April 15th. Stifel Nicolaus boosted their price target on Patterson-UTI Energy from $11.00 to $14.00 and gave the stock a "buy" rating in a research note on Friday, April 24th. Barclays upgraded Patterson-UTI Energy from an "equal weight" rating to an "overweight" rating and set a $15.00 price target on the stock in a report on Thursday. Royal Bank Of Canada lifted their price objective on Patterson-UTI Energy from $12.00 to $14.00 and gave the stock an "outperform" rating in a report on Friday, April 24th. Finally, Zacks Research raised Patterson-UTI Energy from a "hold" rating to a "strong-buy" rating in a report on Friday, April 10th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $11.80.
Read Our Latest Report on PTEN
More Patterson-UTI Energy News
Here are the key news stories impacting Patterson-UTI Energy this week:
- Positive Sentiment: Zacks Research sharply raised multiple near‑term and longer‑term EPS estimates (including FY2026–FY2028) and carries a "Strong‑Buy" rating — it now models PTEN reaching positive EPS by FY2028, signaling an improving earnings trajectory that can support higher valuation. Zacks estimate revisions
- Positive Sentiment: Barclays upgraded PTEN from "equal weight" to "overweight" and set a $15 price target (roughly a >30% upside from recent levels), which could attract buy‑side interest if market momentum follows the rating. Barclays upgrade
- Neutral Sentiment: Patterson‑UTI reported April drilling activity: an average of 88 U.S. drilling rigs in operation — a routine operational update that confirms ongoing activity but doesn't by itself signal a major change in revenue guidance. Drilling activity report
- Negative Sentiment: Director Cesar Jaime sold 10,000 shares at an average price of $12.29 (SEC Form 4). Large insider sales can create short‑term selling pressure or raise investor questions about timing, which may have contributed to the stock drifting lower. SEC filing
Institutional Trading of Patterson-UTI Energy
A number of large investors have recently made changes to their positions in PTEN. Convergence Investment Partners LLC acquired a new stake in shares of Patterson-UTI Energy during the 1st quarter worth about $1,325,000. Dimensional Fund Advisors LP increased its position in Patterson-UTI Energy by 14.9% during the first quarter. Dimensional Fund Advisors LP now owns 21,211,576 shares of the oil and gas company's stock worth $229,732,000 after purchasing an additional 2,745,872 shares during the last quarter. Assetmark Inc. raised its stake in Patterson-UTI Energy by 8.1% during the first quarter. Assetmark Inc. now owns 23,797 shares of the oil and gas company's stock worth $258,000 after purchasing an additional 1,786 shares during the period. Independent Financial Group LLC acquired a new position in shares of Patterson-UTI Energy in the 1st quarter valued at $408,000. Finally, Sanctuary Advisors LLC purchased a new stake in shares of Patterson-UTI Energy during the 1st quarter valued at $122,000. 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.
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