Patterson-UTI Energy, Inc. (NASDAQ:PTEN) Receives Average Rating of "Hold" from Analysts

Key Points

• Analysts have an average recommendation of "Hold" on Patterson-UTI from 14 firms, with a consensus 12‑month target price of about $11.30 (mix of 2 sells, 5 holds, 6 buys, 1 strong buy).
• Insiders have been net sellers: the CEO sold 250,000 shares (~$2.96M) and a director sold 61,475 shares, with insiders offloading 798,949 shares (~$9.26M) over the past three months.
• Patterson-UTI declared a quarterly dividend of $0.10 per share (annualized $0.40, ≈3.2% yield); the company marginally beat Q1 EPS estimates (‑$0.06 vs. ‑$0.10) but revenue fell 12.7% year‑over‑year and margins remain negative.

Patterson-UTI Energy, Inc. (NASDAQ:PTEN - Get Free Report) has been assigned an average recommendation of "Hold" from the fourteen analysts that are covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation, six have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $11.30.

A number of research firms have issued reports on PTEN. Barclays boosted their target price on Patterson-UTI Energy from $8.00 to $10.00 and gave the company an "equal weight" 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 research note on Friday, April 10th. Piper Sandler raised their target price on shares of Patterson-UTI Energy from $10.00 to $12.00 and gave the stock a "neutral" rating in a report on Monday, April 27th. Bank of America reissued a "buy" rating on shares of Patterson-UTI Energy in a research report on Monday, March 2nd. Finally, Susquehanna raised 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.

Insider Activity

In other news, Director Robert Wayne Drummond, Jr. sold 61,475 shares of the business's stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $12.02, for a total value of $738,929.50. Following the sale, the director directly owned 1,128,773 shares in the company, valued at $13,567,851.46. The trade was a 5.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO William Andrew Hendricks, Jr. sold 250,000 shares of Patterson-UTI Energy stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $11.85, for a total transaction of $2,962,500.00. Following the completion of the sale, the chief executive officer owned 2,823,103 shares in the company, valued at $33,453,770.55. This trade represents a 8.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 798,949 shares of company stock worth $9,264,135 in the last three months. Company insiders own 2.20% of the company's stock.

Hedge Funds Weigh In On Patterson-UTI Energy

Large investors have recently modified their holdings of the business. Dimensional Fund Advisors LP increased its position in shares of 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 worth $112,825,000 after purchasing an additional 1,465,102 shares during the last quarter. American Century Companies Inc. increased its position 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 raised its stake in 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 during the period. Sourcerock Group LLC lifted its position in shares of Patterson-UTI Energy by 109.2% in 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. lifted its position in shares of Patterson-UTI Energy by 110.8% in 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. 97.91% of the stock is currently owned by institutional investors and hedge funds.

Patterson-UTI Energy Stock Performance

Shares of NASDAQ:PTEN opened at $12.41 on Wednesday. The company has a market capitalization of $4.71 billion, a price-to-earnings ratio of -40.03 and a beta of 0.64. The firm's 50 day simple moving average is $10.27 and its 200 day simple moving average is $7.91. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.84 and a quick ratio of 1.63. Patterson-UTI Energy has a fifty-two week low of $5.10 and a fifty-two week high of $12.62.

Patterson-UTI Energy (NASDAQ:PTEN - Get Free Report) last issued its earnings results on Wednesday, April 22nd. The oil and gas company reported ($0.06) EPS for the quarter, beating 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 firm had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.11 billion. The business's revenue was down 12.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Patterson-UTI Energy will post -0.22 earnings per share for the current year.

Patterson-UTI Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date is Monday, June 1st. Patterson-UTI Energy's dividend payout ratio is -129.03%.

Key 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

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.

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