Horizon Kinetics Asset Management LLC Sells 68,700 Shares of Patterson-UTI Energy, Inc. $PTEN

Posted by Francis Steltz on Jun 11th, 2026

Horizon Kinetics Asset Management LLC reduced its position in Patterson-UTI Energy, Inc. (NASDAQ:PTEN – Free Report) by 21.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 258,608 shares of the oil and gas company’s stock after selling 68,700 shares during the quarter. Horizon Kinetics Asset Management LLC owned about 0.07% of Patterson-UTI Energy worth $1,580,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of PTEN. Sourcerock Group LLC grew its holdings in shares of Patterson-UTI Energy by 109.2% during the 2nd quarter. Sourcerock Group LLC now owns 13,803,775 shares of the oil and gas company’s stock valued at $81,856,000 after purchasing an additional 7,205,652 shares during the last quarter. Holocene Advisors LP grew its holdings in shares of Patterson-UTI Energy by 176.6% during the 3rd quarter. Holocene Advisors LP now owns 9,228,022 shares of the oil and gas company’s stock valued at $47,801,000 after purchasing an additional 5,891,956 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings 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 valued at $64,517,000 after purchasing an additional 5,551,276 shares during the last quarter. UBS Group AG grew its holdings 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 purchasing an additional 4,558,445 shares during the last quarter. Finally, Millennium Management LLC grew its holdings in shares of Patterson-UTI Energy by 97.7% during the 3rd quarter. Millennium Management LLC now owns 8,989,351 shares of the oil and gas company’s stock valued at $46,565,000 after purchasing an additional 4,442,700 shares during the last quarter. 97.91% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on PTEN shares. Weiss Ratings reiterated a “sell (d+)” rating on shares of Patterson-UTI Energy in a research report on Tuesday, May 26th. Stifel Nicolaus lifted their target price on shares of Patterson-UTI Energy from $11.00 to $14.00 and gave the stock a “buy” rating in a research report on Friday, April 24th. Bank of America reiterated a “buy” rating on shares of Patterson-UTI Energy in a research report on Monday, March 2nd. KeyCorp upgraded shares of Patterson-UTI Energy to an “overweight” rating in a research report on Wednesday, May 27th. Finally, Citigroup lifted their target price on shares of Patterson-UTI Energy from $9.00 to $11.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 15th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Patterson-UTI Energy presently has an average rating of “Moderate Buy” and a consensus target price of $12.30.

Get Our Latest Research Report on PTEN

Patterson-UTI Energy Stock Up 3.7%

Shares of NASDAQ PTEN opened at $12.02 on Thursday. The company has a market capitalization of $4.56 billion, a P/E ratio of -38.77 and a beta of 0.61. Patterson-UTI Energy, Inc. has a 52-week low of $5.10 and a 52-week high of $13.08. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.63 and a current ratio of 1.84. The company’s 50 day moving average price is $11.38 and its 200-day moving average price is $8.98.

Patterson-UTI Energy (NASDAQ:PTEN – Get Free Report) last issued its quarterly earnings results on Wednesday, April 22nd. The oil and gas company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.04. The firm had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.11 billion. Patterson-UTI Energy had a negative net margin of 2.56% and a negative return on equity of 2.32%. The business’s revenue for the quarter was down 12.7% compared to the same quarter last year. Equities analysts forecast that Patterson-UTI Energy, Inc. will post -0.15 earnings per share for the current year.

Patterson-UTI Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be paid a $0.10 dividend. The ex-dividend date is Monday, June 1st. This represents a $0.40 annualized dividend and a dividend yield of 3.3%. Patterson-UTI Energy’s payout ratio is currently -129.03%.

Insider Buying and Selling

In other news, CEO William Andrew Hendricks, Jr. sold 200,000 shares of Patterson-UTI Energy stock in a transaction on Friday, June 5th. The shares were sold at an average price of $11.64, for a total value of $2,328,000.00. Following the completion of the sale, the chief executive officer owned 2,542,474 shares in the company, valued at $29,594,397.36. The trade was a 7.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO James Michael Holcomb sold 150,000 shares of Patterson-UTI Energy stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $11.47, for a total transaction of $1,720,500.00. Following the completion of the sale, the chief operating officer owned 421,523 shares of the company’s stock, valued at $4,834,868.81. This represents a 26.25% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,172,619 shares of company stock worth $13,599,712 over the last ninety days. 2.20% of the stock is owned by company insiders.

Patterson-UTI Energy Profile

(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.