Principal Financial Group Inc. Has $22.91 Million Stock Holdings in Patterson-UTI Energy, Inc. $PTEN

Principal Financial Group Inc. trimmed its holdings in shares of Patterson-UTI Energy, Inc. (NASDAQ:PTEN) by 2.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,421,945 shares of the oil and gas company’s stock after selling 128,992 shares during the period. Principal Financial Group Inc.’s holdings in Patterson-UTI Energy were worth $22,906,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of PTEN. Versant Capital Management Inc increased its holdings in shares of Patterson-UTI Energy by 127.3% in the 3rd quarter. Versant Capital Management Inc now owns 5,970 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 3,343 shares during the period. EverSource Wealth Advisors LLC grew its position in Patterson-UTI Energy by 494.6% during the second quarter. EverSource Wealth Advisors LLC now owns 8,621 shares of the oil and gas company’s stock valued at $51,000 after purchasing an additional 7,171 shares in the last quarter. Blue Trust Inc. grew its position in Patterson-UTI Energy by 43.0% during the third quarter. Blue Trust Inc. now owns 9,033 shares of the oil and gas company’s stock valued at $47,000 after purchasing an additional 2,717 shares in the last quarter. Arkadios Wealth Advisors acquired a new position in Patterson-UTI Energy in the 3rd quarter valued at approximately $52,000. Finally, Hudson Bay Capital Management LP purchased a new stake in Patterson-UTI Energy in the 2nd quarter worth approximately $62,000. 97.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Patterson-UTI Energy

In related news, Director James Carl Stewart sold 368,254 shares of the business’s stock in a transaction dated Thursday, December 18th. The stock was sold at an average price of $5.87, for a total transaction of $2,161,650.98. Following the completion of the transaction, the director owned 207,000 shares of the company’s stock, valued at approximately $1,215,090. The trade was a 64.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.40% of the company’s stock.

Patterson-UTI Energy Trading Up 6.0%

Shares of PTEN stock opened at $8.66 on Friday. Patterson-UTI Energy, Inc. has a 12 month low of $5.10 and a 12 month high of $9.30. The company has a market cap of $3.28 billion, a PE ratio of -34.64 and a beta of 0.76. The company has a quick ratio of 1.44, a current ratio of 1.64 and a debt-to-equity ratio of 0.38. The business’s 50 day moving average is $6.70 and its two-hundred day moving average is $6.08.

Patterson-UTI Energy (NASDAQ:PTEN) last posted its quarterly earnings data on Wednesday, February 4th. The oil and gas company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.09. Patterson-UTI Energy had a negative net margin of 1.94% and a negative return on equity of 1.50%. The business had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same period in the prior year, the firm earned ($0.13) EPS. Patterson-UTI Energy’s quarterly revenue was down 1.0% compared to the same quarter last year. Equities analysts predict that Patterson-UTI Energy, Inc. will post -0.1 EPS for the current year.

Patterson-UTI Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 2nd will be given a $0.10 dividend. This is an increase from Patterson-UTI Energy’s previous quarterly dividend of $0.08. This represents a $0.40 annualized dividend and a dividend yield of 4.6%. The ex-dividend date of this dividend is Monday, March 2nd. Patterson-UTI Energy’s dividend payout ratio (DPR) is -88.89%.

Analysts Set New Price Targets

Several research firms have recently commented on PTEN. Weiss Ratings restated a “sell (d-)” rating on shares of Patterson-UTI Energy in a report on Monday, December 29th. Barclays restated an “equal weight” rating and issued a $6.00 target price (down previously from $7.00) on shares of Patterson-UTI Energy in a research note on Monday, October 13th. Royal Bank Of Canada upped their target price on Patterson-UTI Energy from $8.00 to $9.00 and gave the stock an “outperform” rating in a research report on Friday. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $6.00 price target (down from $7.00) on shares of Patterson-UTI Energy in a report on Wednesday, December 10th. Finally, Tudor Pickering downgraded Patterson-UTI Energy from a “strong-buy” rating to a “hold” rating in a report on Friday, October 17th. Three equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $7.50.

Key Patterson-UTI Energy News

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

• Positive Sentiment: Patterson-UTI reported a narrower-than-expected Q4 loss and revenue that beat estimates; management highlighted stronger Completion Services and lower costs helping results. Q4 results (Zacks)
• Positive Sentiment: The company announced a 25% increase to its quarterly dividend (to $0.10), implying a higher yield (~4.9%) and signaling confidence in free cash flow — a catalyst for income-focused investors. Dividend & capex note (Seeking Alpha)
• Positive Sentiment: Analysts raised targets and ratings: Stifel lifted its PT to $11 (buy) and RBC raised its PT to $9 (outperform), which can drive buying interest and support the rally. Stifel target raise (TickerReport) RBC note (Benzinga)
• Neutral Sentiment: Patterson-UTI reported January drilling activity: an average of 94 rigs operating in the U.S., a datapoint showing stable operating scale but not a major directional catalyst by itself. January rig count (Access Newswire)
• Neutral Sentiment: Management signaled a 15% CapEx reduction alongside the dividend hike, emphasizing cash-return focus and margin resilience — positive for cash flow but may reduce near-term growth spend. CapEx & dividend details (Seeking Alpha)
• Negative Sentiment: Despite the beat, PTEN remains unprofitable on a GAAP basis (Q4 loss per share) and shows negative net margin/ROE; multi-year profitability recovery is still a work in progress. Q4 loss (Zacks)

About Patterson-UTI Energy

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.