Patterson-UTI Energy (NASDAQ:PTEN) Stock Price Down 4.4% – Here’s Why

Posted by George Bondi on Sep 18th, 2026

Patterson-UTI Energy, Inc. (NASDAQ:PTEN – Get Free Report) shares dropped 4.4% during trading on Wednesday . The stock traded as low as $12.22 and last traded at $12.1450. Approximately 743,730 shares changed hands during trading, a decline of 92% from the average session volume of 9,801,393 shares. The stock had previously closed at $12.71.

Analysts Set New Price Targets

A number of research firms have weighed in on PTEN. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Patterson-UTI Energy in a research report on Friday, August 21st. Piper Sandler restated an “overweight” rating on shares of Patterson-UTI Energy in a research note on Friday, August 21st. Royal Bank Of Canada increased their price target on Patterson-UTI Energy from $14.00 to $15.00 and gave the stock an “outperform” rating in a report on Friday, May 29th. Barclays boosted their price objective on shares of 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, Susquehanna raised their target price on shares of Patterson-UTI Energy from $12.00 to $13.00 and gave the stock a “positive” rating in a research note on Monday, August 3rd. Nine equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Patterson-UTI Energy presently has an average rating of “Moderate Buy” and an average price target of $13.25.

Check Out Our Latest Analysis on PTEN

Patterson-UTI Energy Stock Performance

The company has a current ratio of 1.75, a quick ratio of 1.57 and a debt-to-equity ratio of 0.40. The business has a 50 day moving average price of $11.22 and a 200-day moving average price of $10.90. The firm has a market capitalization of $4.59 billion, a PE ratio of -52.30 and a beta of 0.66.

Patterson-UTI Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st were given a $0.10 dividend. The ex-dividend date was Tuesday, September 1st. This represents a $0.40 annualized dividend and a yield of 3.3%. Patterson-UTI Energy’s dividend payout ratio is presently -173.91%.

Insiders Place Their Bets

In other news, CEO William Andrew Hendricks, Jr. sold 250,000 shares of the company’s stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $12.93, for a total transaction of $3,232,500.00. Following the transaction, the chief executive officer directly 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robert Wayne Drummond, Jr. sold 198,395 shares of the stock in a transaction dated 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 completion of the transaction, the director owned 928,773 shares of the company’s stock, valued at $11,934,733.05. This represents a 17.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 777,000 shares of company stock worth $9,721,280 in the last ninety days. 2.20% of the stock is owned by insiders.

Institutional Trading of Patterson-UTI Energy

A number of institutional investors have recently added to or reduced their stakes in the stock. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Patterson-UTI Energy in the second quarter valued at about $32,000. Nykredit A S acquired a new stake in shares of Patterson-UTI Energy in the 2nd quarter worth approximately $56,000. Rockefeller Capital Management L.P. grew its holdings in shares of Patterson-UTI Energy by 187.6% in the 4th quarter. Rockefeller Capital Management L.P. now owns 6,591 shares of the oil and gas company’s stock worth $40,000 after acquiring an additional 4,299 shares during the period. Allworth Financial LP purchased a new position in Patterson-UTI Energy in the 2nd quarter valued at approximately $68,000. Finally, Cidel Asset Management Inc. purchased a new position in Patterson-UTI Energy in the 1st quarter valued at approximately $110,000. Hedge funds and other institutional investors own 97.91% of the company’s stock.

About Patterson-UTI Energy

(Get Free Report)

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.