Patterson-UTI Energy (NASDAQ:PTEN) CEO William Andrew Hendricks, Jr. Sells 250,000 Shares of Stock

Posted by Geri Gentry on Sep 4th, 2026

Patterson-UTI Energy, Inc. (NASDAQ:PTEN – Get Free Report) CEO William Hendricks, Jr. sold 250,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $12.93, for a total value of $3,232,500.00. Following the completion of the sale, the chief executive officer owned 2,292,474 shares of the company’s stock, valued at $29,641,688.82. This represents a 9.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.

Patterson-UTI Energy Stock Performance

PTEN opened at $12.55 on Friday. The stock has a market cap of $4.79 billion, a PE ratio of -54.57 and a beta of 0.66. The company has a current ratio of 1.75, a quick ratio of 1.57 and a debt-to-equity ratio of 0.40. Patterson-UTI Energy, Inc. has a 1 year low of $5.10 and a 1 year high of $13.31. The stock’s 50 day simple moving average is $10.53 and its 200-day simple moving average is $10.60.

Patterson-UTI Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be paid a dividend of $0.10 per share. The ex-dividend date is Tuesday, September 1st. This represents a $0.40 dividend on an annualized basis and a yield of 3.2%. Patterson-UTI Energy’s payout ratio is currently -173.91%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PTEN. Susquehanna increased their price objective on shares of Patterson-UTI Energy from $12.00 to $13.00 and gave the company a “positive” rating in a research note on Monday, August 3rd. Zacks Research lowered shares of Patterson-UTI Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 27th. Piper Sandler reissued an “overweight” rating on shares of Patterson-UTI Energy in a research note on Friday, August 21st. Barclays increased their price target on shares of Patterson-UTI Energy from $15.00 to $16.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 5th. Finally, Stifel Nicolaus lifted their price objective on Patterson-UTI Energy from $14.00 to $15.00 and gave the company a “buy” rating in a report on Tuesday, June 16th. Nine research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Patterson-UTI Energy currently has a consensus rating of “Moderate Buy” and an average price target of $12.95.

View Our Latest Analysis on PTEN

Institutional Investors Weigh In On Patterson-UTI Energy

A number of hedge funds have recently made changes to their positions in PTEN. BlackRock Inc. bought a new stake in Patterson-UTI Energy during the second quarter worth about $577,234,000. Dimensional Fund Advisors LP raised its stake in shares of Patterson-UTI Energy by 14.9% in the first quarter. Dimensional Fund Advisors LP now owns 21,211,576 shares of the oil and gas company’s stock valued at $229,732,000 after acquiring an additional 2,745,872 shares during the last quarter. State Street Corp raised its stake in shares of 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 acquiring an additional 75,560 shares during the last quarter. Sourcerock Group LLC boosted its holdings in shares of Patterson-UTI Energy by 109.2% in the 2nd 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 in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in 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. 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.