Patterson-UTI Energy (NASDAQ:PTEN) Trading 9.3% Higher – Time to Buy?

Posted by Geri Gentry on Aug 12th, 2026

Patterson-UTI Energy, Inc. (NASDAQ:PTEN – Get Free Report)’s share price was up 9.3% on Monday . The company traded as high as $10.70 and last traded at $10.7840. Approximately 885,078 shares traded hands during trading, a decline of 91% from the average daily volume of 10,176,545 shares. The stock had previously closed at $9.87.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Citigroup lowered their price target on shares of Patterson-UTI Energy from $11.00 to $10.50 and set a “neutral” rating on the stock in a report on Monday, June 29th. Susquehanna increased their price objective on Patterson-UTI Energy from $12.00 to $13.00 and gave the company a “positive” rating in a report on Monday, August 3rd. JPMorgan Chase & Co. raised Patterson-UTI Energy from an “underweight” rating to a “neutral” rating and set a $12.00 target price for the company in a research report on Friday, July 31st. Barclays boosted their target price on Patterson-UTI Energy from $15.00 to $16.00 and gave the company an “overweight” rating in a research note on Wednesday, August 5th. Finally, KeyCorp raised Patterson-UTI Energy to an “overweight” rating in a research report on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $12.95.

Read Our Latest Research Report on PTEN

Patterson-UTI Energy Trading Up 0.6%

The company has a market cap of $4.22 billion, a P/E ratio of -48.09 and a beta of 0.63. 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 firm’s 50-day moving average price is $10.13 and its 200-day moving average price is $10.10.

Patterson-UTI Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date is Tuesday, September 1st. Patterson-UTI Energy’s dividend payout ratio is currently -173.91%.

Insider Transactions at Patterson-UTI Energy

In related news, CEO William Andrew Hendricks, Jr. sold 200,000 shares of the stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $11.64, for a total transaction of $2,328,000.00. Following the completion of the sale, the chief executive officer directly owned 2,542,474 shares in the company, valued at $29,594,397.36. This represents a 7.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Forrest C. Robinson sold 13,670 shares of the firm’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $12.01, for a total transaction of $164,176.70. Following the completion of the sale, the chief accounting officer directly owned 56,842 shares in the company, valued at approximately $682,672.42. This trade represents a 19.39% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 363,670 shares of company stock valued at $4,212,677 in the last quarter. Insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. BlackRock Inc. bought a new stake in Patterson-UTI Energy during the second quarter valued at approximately $577,234,000. Sourcerock Group LLC raised its position in 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 worth $81,856,000 after acquiring an additional 7,205,652 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of Patterson-UTI Energy by 110.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 10,559,219 shares of the oil and gas company’s stock worth $64,517,000 after acquiring an additional 5,551,276 shares during the last quarter. UBS Group AG grew its position in shares of Patterson-UTI Energy by 121.2% during the 4th quarter. UBS Group AG now owns 8,320,544 shares of the oil and gas company’s stock valued at $50,839,000 after acquiring an additional 4,558,445 shares during the period. Finally, Millennium Management LLC increased its stake in shares of Patterson-UTI Energy by 97.7% in the 3rd quarter. Millennium Management LLC now owns 8,989,351 shares of the oil and gas company’s stock worth $46,565,000 after purchasing an additional 4,442,700 shares in the last quarter. Institutional investors own 97.91% of the company’s stock.

Patterson-UTI Energy Company Profile

(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.