Louisiana State Employees Retirement System Makes New $1.66 Million Investment in Patterson-UTI Energy, Inc. $PTEN

Louisiana State Employees Retirement System purchased a new stake in shares of Patterson-UTI Energy, Inc. (NASDAQ:PTEN) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 153,200 shares of the oil and gas company’s stock, valued at approximately $1,659,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of PTEN. Ritholtz Wealth Management bought a new stake in shares of Patterson-UTI Energy in the 1st quarter valued at about $137,000. Fifth Third Wealth Advisors LLC bought a new position in Patterson-UTI Energy during the 1st quarter worth approximately $110,000. Cidel Asset Management Inc. bought a new position in Patterson-UTI Energy during the 1st quarter worth approximately $110,000. Hsbc Holdings PLC increased its stake in Patterson-UTI Energy by 16.9% in the 4th quarter. Hsbc Holdings PLC now owns 233,137 shares of the oil and gas company’s stock worth $1,418,000 after purchasing an additional 33,645 shares during the period. Finally, Rockefeller Capital Management L.P. lifted its position in Patterson-UTI Energy by 187.6% in the fourth 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. 97.91% of the stock is owned by institutional investors.

Insider Activity

In related news, COO James Michael Holcomb sold 150,000 shares of the business’s stock in a transaction dated 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 transaction, the chief operating officer owned 421,523 shares in the company, valued at $4,834,868.81. The trade was a 26.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William Andrew Hendricks, Jr. sold 200,000 shares of the business’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $11.64, for a total transaction of $2,328,000.00. Following the transaction, the chief executive officer owned 2,542,474 shares in the company, valued at $29,594,397.36. This represents a 7.29% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 1,007,844 shares of company stock worth $11,922,302. 2.20% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Stifel Nicolaus increased their price objective on Patterson-UTI Energy from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Tuesday, June 16th. Susquehanna upped their price target on shares of Patterson-UTI Energy from $13.00 to $14.00 and gave the company a “positive” rating in a report on Wednesday, May 27th. Barclays raised shares of Patterson-UTI Energy from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $10.00 to $15.00 in a research report on Thursday, May 7th. Royal Bank Of Canada raised their price target on shares of Patterson-UTI Energy from $14.00 to $15.00 and gave the stock an “outperform” rating in a report on Friday, May 29th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Patterson-UTI Energy in a research report on Tuesday, May 26th. Eight equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $12.35.

Key Stories Impacting Patterson-UTI Energy

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

• Positive Sentiment: Zacks Research lifted its earnings estimates for Patterson-UTI Energy across several periods, including Q2, Q3 and Q4 2026, plus FY2026 and FY2027, suggesting slightly better operating expectations ahead.
• Positive Sentiment: A Seeking Alpha piece argued investors may want to keep holding PTEN as geopolitical risk around the Strait of Hormuz reopens, implying potential support from oil-market volatility. Article Title
• Neutral Sentiment: Citi reportedly kept a Neutral/Hold rating on Patterson-UTI Energy, indicating the bank does not see a strong near-term catalyst either way. Article Title
• Neutral Sentiment: Another report said Citi stuck with its Hold rating on PTEN, reinforcing a wait-and-see view from analysts. Article Title
• Negative Sentiment: Citi’s lower price target is the clearest bearish catalyst in the news flow and likely helping explain why PTEN is moving down today.
• Negative Sentiment: An article asking whether PTEN is a good stock to buy now reflects ongoing valuation and earnings concerns rather than a strong bullish thesis. Article Title

Patterson-UTI Energy Price Performance

Shares of Patterson-UTI Energy stock opened at $8.57 on Thursday. The company has a quick ratio of 1.63, a current ratio of 1.84 and a debt-to-equity ratio of 0.39. The company has a market cap of $3.25 billion, a PE ratio of -27.64 and a beta of 0.62. The business has a 50 day moving average of $11.30 and a 200 day moving average of $9.41. Patterson-UTI Energy, Inc. has a 52 week low of $5.10 and a 52 week high of $13.08.

Patterson-UTI Energy (NASDAQ:PTEN) last released its quarterly earnings results on Wednesday, April 22nd. The oil and gas company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.04. The business had revenue of $1.12 billion for the quarter, compared to analysts’ expectations 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 company’s revenue for the quarter was down 12.7% on a year-over-year basis. As a group, equities research analysts forecast that Patterson-UTI Energy, Inc. will post -0.14 earnings per share for the current year.

Patterson-UTI Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 4.7%. The ex-dividend date of this dividend was Monday, June 1st. Patterson-UTI Energy’s dividend payout ratio (DPR) is currently -129.03%.

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.