Mitsubishi UFJ Trust & Banking Corp Has $762,000 Stake in Patterson-UTI Energy, Inc. $PTEN

Key Points

• Mitsubishi UFJ Trust & Banking boosted its stake in Patterson-UTI by 457.7% in Q4 and now owns 124,722 shares valued at about $762,000.
• Significant insider selling occurred recently—insiders offloaded 798,949 shares in the quarter, including CEO William Hendricks Jr. (250,000) and Director Robert W. Drummond Jr. (322,699).
• Patterson-UTI declared a $0.10 quarterly dividend (annualized $0.40, ~3.2% yield) while analysts have nudged up targets but the consensus rating remains a Hold with an average target near $11.30.

Mitsubishi UFJ Trust & Banking Corp grew its position in Patterson-UTI Energy, Inc. (NASDAQ:PTEN - Free Report) by 457.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 124,722 shares of the oil and gas company's stock after purchasing an additional 102,358 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp's holdings in Patterson-UTI Energy were worth $762,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in PTEN. Tejara Capital Ltd boosted its stake in shares of Patterson-UTI Energy by 65.1% in the third quarter. Tejara Capital Ltd now owns 554,993 shares of the oil and gas company's stock valued at $2,875,000 after buying an additional 218,856 shares during the period. Citigroup Inc. boosted its stake in shares of Patterson-UTI Energy by 10.3% in the third quarter. Citigroup Inc. now owns 1,489,694 shares of the oil and gas company's stock valued at $7,717,000 after buying an additional 139,561 shares during the period. New York State Teachers Retirement System boosted its stake in shares of Patterson-UTI Energy by 71.9% in the third quarter. New York State Teachers Retirement System now owns 551,671 shares of the oil and gas company's stock valued at $2,858,000 after buying an additional 230,800 shares during the period. Magnetar Financial LLC boosted its stake in shares of Patterson-UTI Energy by 728.4% in the third quarter. Magnetar Financial LLC now owns 280,919 shares of the oil and gas company's stock valued at $1,455,000 after buying an additional 247,010 shares during the period. Finally, Public Sector Pension Investment Board boosted its stake in shares of Patterson-UTI Energy by 14.2% in the third quarter. Public Sector Pension Investment Board now owns 1,367,213 shares of the oil and gas company's stock valued at $7,082,000 after buying an additional 169,816 shares during the period. Institutional investors and hedge funds own 97.91% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on PTEN shares. Piper Sandler boosted their price target on Patterson-UTI Energy from $10.00 to $12.00 and gave the company a "neutral" rating in a research note on Monday, April 27th. Zacks Research raised Patterson-UTI Energy from a "hold" rating to a "strong-buy" rating in a report on Friday, April 10th. Morgan Stanley raised their target price on Patterson-UTI Energy from $7.00 to $10.00 and gave the company an "equal weight" rating in a report on Wednesday, April 15th. Citigroup raised their target price on Patterson-UTI Energy from $9.00 to $11.00 and gave the company a "neutral" rating in a report on Wednesday, April 15th. Finally, The Goldman Sachs Group raised their target price on Patterson-UTI Energy from $9.00 to $11.00 and gave the company a "buy" rating in a report on Wednesday, April 15th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Patterson-UTI Energy presently has a consensus rating of "Hold" and an average target price of $11.30.

Insiders Place Their Bets

In other news, Director Robert Wayne Drummond, Jr. sold 322,699 shares of the stock in a transaction on Friday, May 1st. The stock was sold at an average price of $12.04, for a total value of $3,885,295.96. Following the completion of the transaction, the director directly owned 1,190,248 shares in the company, valued at approximately $14,330,585.92. This represents a 21.33% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William Andrew Hendricks, Jr. sold 250,000 shares of the stock in a transaction on Friday, May 1st. The shares were sold at an average price of $11.85, for a total value of $2,962,500.00. Following the completion of the transaction, the chief executive officer owned 2,823,103 shares of the company's stock, valued at $33,453,770.55. The trade was a 8.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 798,949 shares of company stock valued at $9,264,135 over the last quarter. 2.20% of the stock is owned by corporate insiders.

More Patterson-UTI Energy News

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

• Positive Sentiment: Company declared a quarterly dividend of $0.10 per share (annualized $0.40, ~3.3% yield), giving income-focused investors a concrete cash return and supporting the stock’s appeal. MarketBeat: Patterson-UTI Dividend & News
• Positive Sentiment: Recent analyst moves include several target-price increases and upgrades (Bank of America, Capital One, Stifel among others) that raise the consensus target to roughly $11.30 and signal improving sell-side sentiment vs. last year. This can drive buying from funds that follow analyst action. MarketBeat: Analyst Coverage on PTEN
• Neutral Sentiment: Institutional ownership remains very high (~97.9%), with small recent reallocations reported among hedge funds and wealth managers; these moves are incremental and don’t yet signal a large shift in ownership direction. MarketBeat: Institutional Holdings
• Neutral Sentiment: News roundups noted broader hedge-fund and insider activity across the sector (contextual market flow commentary) — useful for sentiment but not PTEN-specific actionable news. InsiderMonkey: Hedge Fund & Insider Trading News
• Negative Sentiment: CEO William Andrew Hendricks, Jr. sold 250,000 shares (avg ~$11.85, ~$2.96M) — a sizable insider disposition that can be read as profit-taking and may weigh on sentiment. American Banking News: CEO Sells 250,000 Shares
• Negative Sentiment: Director Robert W. Drummond, Jr. materially trimmed his stake in multiple transactions (322,699 shares at ~ $12.04 and a later sale of 61,475 shares at ~$12.02), reducing his position significantly — another signal of insider selling pressure. InsiderTrades: Director Sells $738,929.50 in Stock

Patterson-UTI Energy Stock Up 1.0%

Shares of PTEN opened at $12.41 on Wednesday. Patterson-UTI Energy, Inc. has a 52 week low of $5.10 and a 52 week high of $12.62. The stock has a market capitalization of $4.71 billion, a price-to-earnings ratio of -40.03 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. The stock has a fifty day moving average of $10.27 and a 200-day moving average of $7.91.

Patterson-UTI Energy (NASDAQ:PTEN - Get Free Report) last announced its quarterly earnings results on Wednesday, April 22nd. The oil and gas company reported ($0.06) EPS for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $1.11 billion. The firm's revenue was down 12.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Patterson-UTI Energy, Inc. will post -0.22 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 paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date is Monday, June 1st. Patterson-UTI Energy's dividend payout ratio is presently -129.03%.

Patterson-UTI Energy 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.

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