Patterson-UTI Energy, Inc. $PTEN Stock: Hennessy Advisors Inc. Reduces Stake

Posted by Stanley Muller on Nov 2nd, 2026

Hennessy Advisors Inc. cut its holdings in Patterson-UTI Energy, Inc. (NASDAQ:PTEN – Free Report) by 8.9% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 747,700 shares of the oil and gas company’s stock after selling 73,100 shares during the quarter. Hennessy Advisors Inc. owned approximately 0.20% of Patterson-UTI Energy worth $8,165,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Patterson-UTI Energy in the 2nd quarter valued at approximately $32,000. Reyes Financial Architecture Inc. acquired a new position in Patterson-UTI Energy during the 3rd quarter worth approximately $60,000. Farther Finance Advisors LLC increased its position in Patterson-UTI Energy by 39.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 6,096 shares of the oil and gas company’s stock worth $67,000 after purchasing an additional 1,732 shares in the last quarter. Nykredit A S acquired a new position in Patterson-UTI Energy during the 2nd quarter worth approximately $56,000. Finally, Rockefeller Capital Management L.P. lifted its stake in 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 valued at $40,000 after purchasing an additional 4,299 shares during the last quarter. Institutional investors and hedge funds own 97.91% of the company’s stock.

Insider Buying and Selling

In other news, EVP Seth Wexler sold 120,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $12.75, for a total value of $1,530,000.00. Following the transaction, the executive vice president owned 404,582 shares in the company, valued at $5,158,420.50. This trade represents a 22.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James Stewart sold 207,000 shares of the firm’s stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $11.54, for a total value of $2,388,780.00. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,027,000 shares of company stock worth $12,698,780 over the last 90 days. Company insiders own 2.20% of the company’s stock.

Patterson-UTI Energy Stock Performance

NASDAQ PTEN opened at $13.32 on Monday. The stock has a market capitalization of $5.08 billion, a P/E ratio of -222.00 and a beta of 0.79. The business has a 50 day simple moving average of $11.89 and a 200 day simple moving average of $10.52. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.73 and a quick ratio of 1.57. Patterson-UTI Energy, Inc. has a one year low of $5.24 and a one year high of $13.39.

Patterson-UTI Energy (NASDAQ:PTEN – Get Free Report) last released its earnings results on Wednesday, October 28th. The oil and gas company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.03. The company had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.31 billion. Patterson-UTI Energy had a negative net margin of 0.52% and a negative return on equity of 0.58%. Patterson-UTI Energy’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.10) EPS. Research analysts expect that Patterson-UTI Energy, Inc. will post 0.01 earnings per share for the current year.

Patterson-UTI Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 1st will be issued a dividend of $0.10 per share. The ex-dividend date is Tuesday, December 1st. This represents a $0.40 annualized dividend and a yield of 3.0%. Patterson-UTI Energy’s dividend payout ratio is presently -666.67%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PTEN. Weiss Ratings raised shares of Patterson-UTI Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, October 8th. Zacks Research cut Patterson-UTI Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 27th. Royal Bank Of Canada boosted their price target on Patterson-UTI Energy from $15.00 to $17.00 and gave the stock an “outperform” rating in a report on Friday. Barclays boosted their target price on shares of Patterson-UTI Energy from $16.00 to $17.00 and gave the stock an “overweight” rating in a report on Friday. Finally, JPMorgan Chase & Co. upgraded shares of Patterson-UTI Energy from an “underweight” rating to a “neutral” rating and set a $12.00 price target for the company in a research report on Friday, July 31st. Nine equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, Patterson-UTI Energy currently has an average rating of “Moderate Buy” and a consensus target price of $13.59.

View Our Latest Analysis on Patterson-UTI Energy

Trending Headlines about Patterson-UTI Energy

Here are the key news stories impacting Patterson-UTI Energy this week:

Positive Sentiment: Analysts raised their price targets: Royal Bank of Canada increased its target from $15 to $17 and maintained an “outperform” rating. Royal Bank of Canada recommendations
Positive Sentiment: Barclays raised its target from $16 to $17 and maintained an “overweight” rating, while Susquehanna lifted its target from $13 to $15 and assigned a “positive” rating. The revisions imply further upside and reflect improving expectations for PTEN’s earnings and operating performance. Barclays recommendations Susquehanna recommendations
Positive Sentiment: Q3 results beat expectations: Patterson-UTI reported earnings of $0.07 per share versus the $0.04 consensus estimate, while revenue rose 14.1% year over year to $1.34 billion, above the $1.31 billion forecast. Results also improved from a $0.10-per-share loss in the prior-year quarter. Patterson-UTI Q3 earnings results
Positive Sentiment: Constructive outlook: Management expects approximately $150 million in fourth-quarter drilling-services adjusted gross profit and plans to keep 2026 capital expenditures below $600 million. The combination of profitability and capital discipline supports the bullish analyst view. Patterson-UTI Q4 outlook
Neutral Sentiment: PTEN declared a quarterly dividend of $0.10 per share, or $0.40 annualized, representing a yield of approximately 3.2%. The dividend adds shareholder income, although the company continues to report a slightly negative net margin and return on equity.

Patterson-UTI Energy Profile

(Free Report)

Patterson-UTI Energy, Inc is an oilfield services company that provides drilling, completion and production-related services to oil and natural gas exploration and production companies. Its operations are primarily focused on onshore oil and gas development in the United States.

The company provides contract land drilling services through a fleet of rigs, as well as directional drilling and related technologies used to guide wellbores. Patterson-UTI also offers pressure pumping and hydraulic fracturing, wireline, well-completion, equipment rental and other services that support the development and maintenance of unconventional wells.

Patterson-UTI expanded its completion-services business through its 2023 merger with NexTier Oilfield Solutions.