Patterson-UTI Energy (NASDAQ:PTEN) Shares Cross Above 200 Day Moving Average – Should You Sell?

Posted by George Bondi on Oct 16th, 2026

Shares of Patterson-UTI Energy, Inc. (NASDAQ:PTEN – Get Free Report) passed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $11.06 and traded as high as $11.96. Patterson-UTI Energy shares last traded at $11.54, with a volume of 9,245,685 shares.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PTEN. Susquehanna boosted 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 report on Monday, August 3rd. Piper Sandler reissued an “overweight” rating on shares of Patterson-UTI Energy in a report on Friday, August 21st. Zacks Research cut shares of Patterson-UTI Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 27th. Barclays increased their price target on Patterson-UTI Energy from $15.00 to $16.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 5th. Finally, Citigroup cut their target price on Patterson-UTI Energy from $13.50 to $12.50 and set a “neutral” rating for the company in a research report on Friday, October 2nd. Nine research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, Patterson-UTI Energy currently has an average rating of “Moderate Buy” and an average target price of $13.14.

Check Out Our Latest Report on PTEN

Patterson-UTI Energy Trading Up 1.7%

The stock has a market cap of $4.39 billion, a PE ratio of -50.00 and a beta of 0.77. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.57 and a current ratio of 1.75. The stock has a fifty day moving average price of $11.75 and a 200 day moving average price of $11.06.

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. This represents a $0.40 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend was Tuesday, September 1st. Patterson-UTI Energy’s dividend payout ratio is -173.91%.

Insider Activity at Patterson-UTI Energy

In related news, Director James Stewart sold 207,000 shares of the firm’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $11.54, for a total value of $2,388,780.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO William Hendricks, Jr. sold 250,000 shares of Patterson-UTI Energy stock in a transaction dated Friday, September 18th. The shares were sold at an average price of $11.91, for a total transaction of $2,977,500.00. Following the sale, the chief executive officer owned 2,042,474 shares of the company’s stock, valued at $24,325,865.34. The trade was a 10.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 1,027,000 shares of company stock valued at $12,698,780 over the last ninety days. Company insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Engineers Gate Manager LP boosted its position in Patterson-UTI Energy by 1,002.2% during the 2nd quarter. Engineers Gate Manager LP now owns 461,819 shares of the oil and gas company’s stock valued at $4,239,000 after acquiring an additional 419,919 shares in the last quarter. Convergence Investment Partners LLC bought a new position in Patterson-UTI Energy in the first quarter worth about $1,325,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Patterson-UTI Energy during the second quarter valued at about $2,675,000. Quantinno Capital Management LP lifted its position in shares of Patterson-UTI Energy by 163.5% during the first quarter. Quantinno Capital Management LP now owns 503,916 shares of the oil and gas company’s stock valued at $5,457,000 after buying an additional 312,680 shares during the last quarter. Finally, Hsbc Holdings PLC boosted its holdings in shares of Patterson-UTI Energy by 90.2% in the 2nd quarter. Hsbc Holdings PLC now owns 172,117 shares of the oil and gas company’s stock valued at $1,588,000 after buying an additional 81,640 shares in the last quarter. Hedge funds and other institutional investors own 97.91% of the company’s stock.

Patterson-UTI Energy Company Profile

(Get Free Report)

Patterson-UTI Energy, Inc (NASDAQ: PTEN) is an energy services company that provides drilling and well-completion solutions to oil and natural gas exploration and production companies. Its operations support the development of unconventional and conventional wells, primarily in North America.

The company’s drilling services include contract land drilling, directional drilling, and related technologies designed to improve well placement, efficiency, and performance. Patterson-UTI also provides completion services, including pressure pumping, wireline, and other well-completion and production-support services.

Through its drilling products business, Patterson-UTI manufactures and distributes drilling equipment and downhole tools, including drill bits, drilling motors, and related products.