Hsbc Holdings PLC Grows Stake in Patterson-UTI Energy, Inc. $PTEN

Key Points

• HSBC Holdings increased its Patterson-UTI Energy stake by 90.2% in the second quarter, purchasing 81,640 additional shares to hold 172,117 shares worth approximately $1.59 million. Institutional investors collectively own 97.91% of the company.
• Analyst sentiment remains generally positive, with nine Buy ratings, five Holds and one Sell; the stock has a “Moderate Buy” consensus and a $13.25 average price target versus a recent price of $12.85.
• Patterson-UTI declared a quarterly dividend of $0.10, equivalent to a 3.1% annualized yield, while insiders sold 777,000 shares worth $9.72 million over the past 90 days.

Hsbc Holdings PLC raised its stake in shares of Patterson-UTI Energy, Inc. (NASDAQ:PTEN - Free Report) by 90.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 172,117 shares of the oil and gas company's stock after purchasing an additional 81,640 shares during the period. Hsbc Holdings PLC's holdings in Patterson-UTI Energy were worth $1,588,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Lazard Asset Management LLC increased its position in Patterson-UTI Energy by 6.2% during the first quarter. Lazard Asset Management LLC now owns 21,339 shares of the oil and gas company's stock valued at $231,000 after acquiring an additional 1,255 shares during the last quarter. O Shaughnessy Asset Management LLC boosted its stake in shares of Patterson-UTI Energy by 11.4% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 13,901 shares of the oil and gas company's stock worth $85,000 after purchasing an additional 1,420 shares during the period. Aster Capital Management DIFC Ltd boosted its stake in shares of Patterson-UTI Energy by 21.6% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 8,717 shares of the oil and gas company's stock worth $53,000 after purchasing an additional 1,547 shares during the period. Assetmark Inc. grew its holdings in Patterson-UTI Energy by 8.1% during the 1st quarter. Assetmark Inc. now owns 23,797 shares of the oil and gas company's stock valued at $258,000 after purchasing an additional 1,786 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in Patterson-UTI Energy by 0.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 370,476 shares of the oil and gas company's stock valued at $2,197,000 after purchasing an additional 1,915 shares during the last quarter. 97.91% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on PTEN shares. Weiss Ratings reissued a "sell (d+)" rating on shares of Patterson-UTI Energy in a research note on Friday, August 21st. Susquehanna increased their price target on Patterson-UTI Energy from $12.00 to $13.00 and gave the stock a "positive" rating in a report on Monday, August 3rd. Barclays increased their price target on Patterson-UTI Energy from $15.00 to $16.00 and gave the stock an "overweight" rating in a report on Wednesday, August 5th. Stifel Nicolaus raised their price target on Patterson-UTI Energy from $14.00 to $15.00 and gave the stock a "buy" rating in a research note on Tuesday, June 16th. Finally, Zacks Research cut Patterson-UTI Energy from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 27th. Nine equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Patterson-UTI Energy currently has an average rating of "Moderate Buy" and a consensus price target of $13.25.

Patterson-UTI Energy Trading Down 0.4%

Shares of NASDAQ PTEN opened at $12.85 on Friday. The company has a quick ratio of 1.57, a current ratio of 1.75 and a debt-to-equity ratio of 0.40. The business has a fifty day simple moving average of $10.97 and a two-hundred day simple moving average of $10.77. The firm has a market cap of $4.90 billion, a PE ratio of -55.87 and a beta of 0.66. Patterson-UTI Energy, Inc. has a twelve month low of $5.10 and a twelve month high of $13.39.

Patterson-UTI Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Tuesday, September 1st. Patterson-UTI Energy's payout ratio is presently -173.91%.

Insider Buying and Selling at Patterson-UTI Energy

In other news, EVP Seth Wexler sold 120,000 shares of the company's stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $12.75, for a total value of $1,530,000.00. Following the completion of the sale, the executive vice president owned 404,582 shares of the company's stock, valued at approximately $5,158,420.50. This represents a 22.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert Wayne Drummond, Jr. sold 198,395 shares of Patterson-UTI Energy stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $12.85, for a total transaction of $2,549,375.75. Following the transaction, the director directly owned 928,773 shares in the company, valued at approximately $11,934,733.05. The trade was a 17.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 777,000 shares of company stock valued at $9,721,280 in the last ninety days. 2.20% of the stock is owned by insiders.

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.

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.

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