CenterBook Partners LP Trims Stock Holdings in Patterson-UTI Energy, Inc. $PTEN

CenterBook Partners LP reduced its position in Patterson-UTI Energy, Inc. (NASDAQ:PTEN) by 54.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm 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 institutional investors have also modified their holdings of the business. Versant Capital Management Inc boosted its stake in Patterson-UTI Energy by 127.3% during the 3rd quarter. Versant Capital Management Inc now owns 5,970 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 3,343 shares during the period. EverSource Wealth Advisors LLC increased its stake in Patterson-UTI Energy by 494.6% in 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 during the period. Blue Trust Inc. raised its holdings in shares of Patterson-UTI Energy by 43.0% in the third quarter. Blue Trust Inc. now owns 9,033 shares of the oil and gas company’s stock valued at $47,000 after buying an additional 2,717 shares during the last quarter. Arkadios Wealth Advisors acquired a new stake in shares of Patterson-UTI Energy during the third quarter worth about $52,000. Finally, Hudson Bay Capital Management LP purchased a new position in shares of Patterson-UTI Energy during the second quarter worth about $62,000. 97.91% of the stock is owned by institutional investors and hedge funds.

Patterson-UTI Energy Price Performance

Patterson-UTI Energy stock opened at $8.41 on Friday. The company has a market cap of $3.19 billion, a P/E ratio of -33.64 and a beta of 0.76. Patterson-UTI Energy, Inc. has a one year low of $5.10 and a one year high of $8.90. The business has a fifty day moving average of $7.11 and a two-hundred day moving average of $6.25. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.46 and a current ratio of 1.64.

Patterson-UTI Energy (NASDAQ:PTEN) last announced its quarterly earnings results on Wednesday, February 4th. The oil and gas company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 quarter last year, the firm posted ($0.13) EPS. The business’s revenue was down 1.0% compared to the same quarter last year. As a group, analysts predict that Patterson-UTI Energy, Inc. will post -0.1 earnings per share for the current fiscal year.

Patterson-UTI Energy Increases Dividend

The business 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 dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date is Monday, March 2nd. This is a positive change from Patterson-UTI Energy’s previous quarterly dividend of $0.08. Patterson-UTI Energy’s payout ratio is -128.00%.

Analyst Ratings Changes

A number of research firms have weighed in on PTEN. Wall Street Zen raised Patterson-UTI Energy from a “sell” rating to a “hold” rating in a research report on Saturday, October 25th. Piper Sandler increased their price target on Patterson-UTI Energy from $7.00 to $9.00 and gave the stock a “neutral” rating in a report on Monday, February 9th. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $6.00 price objective (down from $7.00) on shares of Patterson-UTI Energy in a research report on Wednesday, December 10th. Citigroup upped their price objective on shares of Patterson-UTI Energy from $7.00 to $9.00 and gave the stock a “neutral” rating in a research report on Monday, February 9th. Finally, Royal Bank Of Canada lifted their target price on shares of Patterson-UTI Energy from $8.00 to $9.00 and gave the company an “outperform” rating in a report on Friday, February 6th. Three 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. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $8.00.

Insider Activity at Patterson-UTI Energy

In other news, Director James Carl Stewart sold 368,254 shares of the business’s stock in a transaction that occurred on 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 sale, the director owned 207,000 shares of the company’s stock, valued at $1,215,090. The trade was a 64.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.40% of the stock is owned by company insiders.

Key Patterson-UTI Energy News

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 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.