SCS Capital Management LLC Acquires New Holdings in Patterson-UTI Energy, Inc. $PTEN

SCS Capital Management LLC bought a new position in shares of Patterson-UTI Energy, Inc. (NASDAQ:PTEN) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 62,024 shares of the oil and gas company’s stock, valued at approximately $569,000.

Other large investors have also recently bought and sold shares of the company. Bank of New York Mellon Corp purchased a new position in shares of Patterson-UTI Energy during the 2nd quarter valued at $38,766,000. State of Wyoming purchased a new stake in shares of Patterson-UTI Energy in the second quarter worth $258,000. GSA Capital Partners LLP purchased a new stake in shares of Patterson-UTI Energy in the second quarter worth $406,000. Alpine Woods Capital Investors LLC bought a new stake in Patterson-UTI Energy during the first quarter valued at $243,000. Finally, Glenmede Trust Co. NA boosted its stake in Patterson-UTI Energy by 199.9% during the first quarter. Glenmede Trust Co. NA now owns 35,637 shares of the oil and gas company’s stock valued at $386,000 after buying an additional 23,755 shares during the period. 97.91% of the stock is owned by institutional investors.

Insider Transactions at Patterson-UTI Energy

In other news, CAO Forrest C. Robinson sold 13,670 shares of the company’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $12.01, for a total value of $164,176.70. Following the completion of the transaction, the chief accounting officer directly owned 56,842 shares in the company, valued at approximately $682,672.42. This represents a 19.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William Andrew Hendricks, Jr. sold 200,000 shares of the stock in a transaction dated 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 transaction, the chief executive officer owned 2,542,474 shares in the company, valued at $29,594,397.36. This trade represents a 7.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 363,670 shares of company stock worth $4,212,677. 2.20% of the stock is currently owned by corporate insiders.

Patterson-UTI Energy Price Performance

Shares of NASDAQ:PTEN opened at $11.37 on Monday. The firm has a market capitalization of $4.34 billion, a PE ratio of -49.43 and a beta of 0.63. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.57 and a current ratio of 1.75. Patterson-UTI Energy, Inc. has a 52-week low of $5.10 and a 52-week high of $13.08. The firm has a fifty day moving average of $10.08 and a 200 day moving average of $10.18.

Patterson-UTI Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Tuesday, September 1st. Patterson-UTI Energy’s dividend payout ratio is presently -173.91%.

Patterson-UTI Energy News Roundup

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

• Positive Sentiment: Higher oil prices are improving expectations for drilling activity and energy-services demand. Patterson-UTI was highlighted as one of two energy stocks that could benefit from crude prices above $80. Oil Above $80: 2 Energy Stocks You Don’t Want to Miss
• Positive Sentiment: Zacks Research maintains a “Strong Buy” view and raised several longer-term earnings forecasts. FY2026 EPS was improved to a loss of $0.05 from a loss of $0.10, FY2027 EPS to $0.04 from $0.02, and FY2028 EPS to $0.38 from $0.27. Estimates for Q1 2027 and Q3 2027 also improved modestly.
• Positive Sentiment: Analysts identified PTEN as one of the drilling stocks bucking a generally bearish industry trend, suggesting relative strength within the oil-and-gas drilling group. 3 Oil & Gas Drilling Stocks Bucking a Bearish Industry Trend
• Neutral Sentiment: The broader analyst view is a “Moderate Buy,” indicating constructive sentiment but not unanimous conviction. Patterson-UTI Energy Given Consensus Recommendation of Moderate Buy
• Negative Sentiment: Not all revisions were favorable: Q4 2027 EPS was lowered to $0.04 from $0.05, while the current full-year consensus still calls for a $0.04-per-share loss. This highlights continuing near-term profitability risk.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on PTEN shares. Stifel Nicolaus upped their target price on Patterson-UTI Energy from $14.00 to $15.00 and gave the stock a “buy” rating in a research note on Tuesday, June 16th. Royal Bank Of Canada lifted their price target on Patterson-UTI Energy from $14.00 to $15.00 and gave the company an “outperform” rating in a research report on Friday, May 29th. JPMorgan Chase & Co. raised Patterson-UTI Energy from an “underweight” rating to a “neutral” rating and set a $12.00 price objective for the company in a report on Friday, July 31st. Capital One Financial upgraded shares of Patterson-UTI Energy from an “equal weight” rating to an “overweight” rating and set a $12.00 price objective on the stock in a research report on Monday, April 20th. Finally, KeyCorp upgraded shares of Patterson-UTI Energy to an “overweight” rating in a research report on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.95.

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.