Patterson-UTI Energy, Inc. $PTEN Shares Sold by CenterBook Partners LP

CenterBook Partners LP cut its holdings in Patterson-UTI Energy, Inc. (NASDAQ:PTEN) by 54.5% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 93,213 shares of the oil and gas company’s stock after selling 111,705 shares during the quarter. CenterBook Partners LP’s holdings in Patterson-UTI Energy were worth $483,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in PTEN. Tejara Capital Ltd increased its position in Patterson-UTI Energy by 65.1% during the third quarter. Tejara Capital Ltd now owns 554,993 shares of the oil and gas company’s stock worth $2,875,000 after buying an additional 218,856 shares in the last quarter. New York State Teachers Retirement System increased its position in Patterson-UTI Energy by 71.9% during the 3rd quarter. New York State Teachers Retirement System now owns 551,671 shares of the oil and gas company’s stock worth $2,858,000 after purchasing an additional 230,800 shares in the last quarter. AXQ Capital LP acquired a new position in Patterson-UTI Energy in the 2nd quarter valued at about $577,000. American Century Companies Inc. raised its stake in Patterson-UTI Energy by 23.4% in the 2nd quarter. American Century Companies Inc. now owns 14,463,590 shares of the oil and gas company’s stock valued at $85,769,000 after purchasing an additional 2,746,159 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC purchased a new position in Patterson-UTI Energy in the 3rd quarter valued at about $1,461,000. 97.91% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PTEN has been the subject of a number of recent research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Patterson-UTI Energy in a report on Monday, December 29th. Royal Bank Of Canada lifted their target price on shares of Patterson-UTI Energy from $8.00 to $9.00 and gave the stock an “outperform” rating in a research note on Friday, February 6th. Wall Street Zen upgraded Patterson-UTI Energy from a “sell” rating to a “hold” rating in a report on Saturday, October 25th. Stifel Nicolaus raised their price objective on Patterson-UTI Energy from $9.00 to $11.00 and gave the stock a “buy” rating in a report on Friday, February 6th. Finally, JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $6.00 target price (down from $7.00) on shares of Patterson-UTI Energy in a research note on Wednesday, December 10th. Three research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $8.00.

Insider Activity

In other news, Director James Carl Stewart sold 368,254 shares of the stock in a transaction on Thursday, December 18th. The shares were sold at an average price of $5.87, for a total value of $2,161,650.98. Following the completion of the sale, the director owned 207,000 shares of the company’s stock, valued at $1,215,090. This represents a 64.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.40% of the company’s stock.

Key Headlines Impacting Patterson-UTI Energy

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

• Positive Sentiment: Zacks Research raised several near‑term and multi‑quarter EPS forecasts for PTEN, trimming projected losses across 2026–2027 (examples: FY2026 revised to ($0.40) from ($0.52); FY2027 to ($0.31) from ($0.42); multiple quarterly revisions narrowed losses). The revisions imply improving operational outlook and reduce the magnitude of expected losses. (Zacks research notes, 2/18)
• Positive Sentiment: Zacks issued a new FY2028 estimate (earnings of ($0.14)), indicating the firm now expects a smaller loss further out, which supports a gradually improving earnings trajectory versus prior forecasts. (Zacks research notes, 2/18)
• Neutral Sentiment: Brokerage consensus remains a “Hold” for PTEN, which may limit near‑term upside despite the Zacks upgrades; the brokerage note is summarized here. Patterson-UTI Energy, Inc. (NASDAQ:PTEN) Given Consensus Rating of “Hold” by Brokerages

Patterson-UTI Energy Stock Down 1.1%

Shares of PTEN opened at $8.41 on Friday. Patterson-UTI Energy, Inc. has a fifty-two week low of $5.10 and a fifty-two week high of $8.90. The company’s fifty day moving average is $7.11 and its two-hundred day moving average is $6.25. The firm has a market cap of $3.19 billion, a PE ratio of -33.64 and a beta of 0.76. The company has a quick ratio of 1.46, a current ratio of 1.64 and a debt-to-equity ratio of 0.38.

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

Patterson-UTI Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 2nd will be paid a $0.10 dividend. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $0.40 annualized dividend and a dividend yield of 4.8%. This is an increase from Patterson-UTI Energy’s previous quarterly dividend of $0.08. Patterson-UTI Energy’s dividend payout ratio is presently -128.00%.

Patterson-UTI Energy Profile

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.