Zacks Research Issues Positive Estimate for PTEN Earnings
Zacks Research has boosted its Q1 2026 EPS estimate for Patterson-UTI Energy (NASDAQ:PTEN) to ($0.12) per share, up from their previous forecast of ($0.14). Several other research firms have also recently updated their ratings and price targets for PTEN, with the company currently holding a "Hold" consensus rating and an average price target of $8.00. The oil and gas company also recently announced an increase in its quarterly dividend to $0.10 per share.
Patterson-UTI Energy, Inc. (NASDAQ:PTEN) Receives Consensus Recommendation of "Hold" from Analysts
Patterson-UTI Energy, Inc. (NASDAQ:PTEN) has received a consensus "Hold" recommendation from twelve analysts, with an average 12-month price target of $8.00. The company reported better-than-expected Q4 earnings per share, but remains unprofitable, though it recently increased its quarterly dividend. Institutional ownership has risen to nearly 98%, despite a director selling a significant stake.
Patterson-UTI Energy, Inc. $PTEN Shares Purchased by Public Sector Pension Investment Board
The Public Sector Pension Investment Board increased its stake in Patterson-UTI Energy (NASDAQ: PTEN) by 14.2%, acquiring over 169,000 additional shares. The company also announced an increased quarterly dividend of $0.10 per share, resulting in a 5.1% yield. Despite beating Q4 EPS and revenue estimates, Patterson-UTI Energy remains unprofitable, and analysts generally rate the stock as a "Hold" with an average price target of $8.00.
Weakening Market Outlook Led Aristotle Small Cap Equity Fund to Liquidate Patterson-UTI Energy (PTEN)
The Aristotle Small Cap Equity Fund liquidated its position in Patterson-UTI Energy (PTEN) due to a weakening energy market outlook, impacting the company's fundamental performance. Despite small-cap equities showing modest gains in Q4 2025, driven by attractive valuations and a positive macroeconomic backdrop, PTEN's shares were down 9.19% over the past twelve months. The fund's Q4 2025 letter highlighted that while security selection generally supported its performance, allocation effects sometimes detracted, leading to the decision to exit PTEN.
LSV Asset Management Has $2.99 Million Stock Holdings in Patterson-UTI Energy, Inc. $PTEN
LSV Asset Management reduced its stake in Patterson-UTI Energy by 19.3% in Q3, holding 577,658 shares valued at $2.99 million. Meanwhile, other institutional investors like American Century Companies Inc. and Sourcerock Group LLC increased their positions. An insider, Director James Carl Stewart, sold a significant portion of his shares, reducing his ownership by over 64%.
Weakening Market Outlook Led Aristotle Small Cap Equity Fund to Liquidate Patterson-UTI Energy (PTEN)
The Aristotle Small Cap Equity Fund liquidated its position in Patterson-UTI Energy, Inc. (PTEN) during the fourth quarter of 2025 due to a weakening outlook for the energy market. Despite small-cap equities showing modest gains in Q4 2025, the fund decided to exit PTEN, an oilfield services company, citing deteriorating fundamental performance. The article notes that while PTEN was held by 42 hedge funds, the fund's conviction is shifting towards AI stocks with higher return potential.
Patterson UTI Energy Free Cash Flow Surge Tests New Dividend Commitment
Patterson-UTI Energy (NasdaqGS:PTEN) reported strong Q4 2025 results, featuring its highest adjusted free cash flow since 2023 and a 25% increase in its quarterly dividend to US$0.10 per share. This surge in cash generation, following recent mergers, signals a potential shift in the company's financial dynamics despite still being unprofitable. Investors are now watching to see if this trend of higher free cash flow and dividends will be sustainable, weighing the management's confidence against the company's ongoing losses and the cyclical nature of the oilfield services industry.
Analysts raise price targets on Patterson-UTI Energy (PTEN) following strong Q4 results
Following Patterson-UTI Energy's strong Q4 results, several analysts have increased their price targets for the company. This positive adjustment reflects the company's robust performance and improved outlook as assessed by financial experts. Investors will likely view these revised price targets as a vote of confidence in PTEN's future trajectory.
Patterson-UTI Energy (PTEN) Is Up 5.9% After Narrower 2025 Net Loss Despite Softer Sales
Patterson-UTI Energy (PTEN) reported a narrower net loss for full-year 2025 despite softer sales, with quarterly sales of US$1,150.81 million and a full-year net loss of US$93.64 million. The company maintained its quarterly dividend of US$0.08 per share, signaling management's confidence in cash generation, though future capital expenditure and shareholder returns could strain free cash flow if activity weakens. Analysts project revenue of US$4.8 billion and earnings of US$337.4 million by 2028, implying a potential 5% downside from its current price.
Patterson-UTI Energy (PTEN) Is Up 5.9% After Narrower 2025 Net Loss Despite Softer Sales
Patterson-UTI Energy (PTEN) reported its Q4 and full-year 2025 results, showing a 5.9% stock increase despite softer sales. The company achieved a narrower net loss for the year and improved loss per share, though revenues declined. Maintaining a quarterly dividend of US$0.08 per share signals management's confidence in cash generation, but also highlights potential risks related to high capital expenditures and shareholder returns if market conditions weaken.
PATTERSON UTI ENERGY INC SEC 10-K Report
Patterson-UTI Energy Inc. released its 2025 Form 10-K report, revealing a decrease in total revenues to $4,826.6 million and a net loss of $(93.1) million, an improvement from the previous year. The company detailed its drilling and completion services segments, strategic initiatives focusing on natural gas-powered solutions, and a strong capital management strategy including a stock buyback program and dividends. Significant challenges include dependency on oil and natural gas prices, operational risks, and regulatory changes, although the company is actively pursuing risk mitigation through technology and infrastructure investments.
Analysts Raise Price Targets on Patterson-UTI Energy (PTEN) Following Strong Q4 Results
Following strong Q4 2025 results, including beating earnings and revenue estimates and generating $416 million in adjusted free cash flow, Patterson-UTI Energy (PTEN) has seen its stock price surge and its quarterly dividend increase by 25%. Several analyst firms, including Susquehanna, Piper Sandler, Citi, Barclays, and Stifel, have raised their price targets on PTEN shares due to the company's robust performance, particularly its free cash flow. This comes after PTEN's share price saw a significant 14.62% increase in the first week of February 2026.
Patterson-UTI: Choosing Cash Flow Over Expansion Into Data Centers (NASDAQ:PTEN)
Patterson-UTI (PTEN) has prioritized cash generation and returns, a strategy that appears justified by current market trends despite the company lagging behind other oilfield services. The recent Q4 earnings beat and a 25% dividend increase, boosting the yield to 4.6%, have positively impacted investor interest in the stock. This approach focuses on financial strength rather than expanding into areas like data centers or heavier exposure to international markets.
5 Analysts Have This To Say About Patterson-UTI Energy
Five analysts have recently provided their perspectives on Patterson-UTI Energy (NASDAQ: PTEN), with an average price target of $8.8, an increase of 15.79% from the previous average. This article details their varying ratings, from bullish to somewhat bearish, and discusses the company's financial health, including its revenue challenges, strong net margin, and efficient asset utilization despite below-industry-standard ROE. It also provides insights into how analyst ratings are determined and their significance for investors.
Patterson-UTI Energy (NASDAQ:PTEN) Given New $9.00 Price Target at Citigroup
Citigroup has raised its price target for Patterson-UTI Energy (NASDAQ:PTEN) to $9.00, maintaining a neutral rating, which suggests a modest 1.98% upside from its previous close. Despite slightly beating quarterly earnings expectations with -$0.02 EPS against a -$0.11 consensus and revenue of $1.15 billion, the company remains unprofitable with negative margins. Analyst consensus largely rates PTEN as a "Hold" with an average target of $8.00.
Patterson-UTI Energy stock price target raised to $9 by Piper Sandler
Piper Sandler has increased its price target for Patterson-UTI Energy (NASDAQ:PTEN) to $9.00 from $7.00, while maintaining a Neutral rating. The upgrade follows the company's strong fourth-quarter 2025 financial results and impressive first-quarter 2026 guidance, despite anticipated impacts from winter weather and drilling activity weakening. Patterson-UTI has consistently paid dividends for 23 years, with its Saudi footprint expected to drive future earnings growth.
Patterson-UTI Energy (NASDAQ:PTEN) Given New $9.00 Price Target at Piper Sandler
Piper Sandler has increased its price target for Patterson-UTI Energy (PTEN) to $9.00 from $7.00, maintaining a "neutral" rating, which suggests a modest 3% upside. Despite the upgrade, the overall analyst consensus remains "Hold" with an average price target of $7.72, reflecting mixed sentiment. The company recently surpassed quarterly earnings estimates with an EPS of ($0.02) and revenue of $1.15 billion, although it continues to face profitability challenges.
Patterson-UTI Energy stock price target raised to $9 by Piper Sandler
Piper Sandler has increased its price target for Patterson-UTI Energy (NASDAQ: PTEN) to $9.00 from $7.00, maintaining a Neutral rating, following the company's strong fourth-quarter 2025 results and positive first-quarter 2026 guidance. The firm cited "impressive Completions and FCF results" and the company's ability to buck seasonal trends. Despite projected impacts from winter freeze and drilling activity weakening, Patterson-UTI has a consistent dividend record and is expected to benefit from its Saudi footprint and potential U.S. land tailwinds.
Oil Servicers Look to Middle East for Growth
Major oilfield service providers are shifting their focus to the Middle East for growth opportunities, as a slowdown in U.S. shale production impacts their business. Companies like Helmerich & Payne, Patterson-UTI Energy, SLB, and Weatherford International are eyeing increased activity in Saudi Arabia and other Middle Eastern countries to offset declining U.S. demand. This strategic pivot is driven by the Middle East's ability to sustain lower crude prices and growing demand for natural gas projects, despite a more cautious near-term outlook from some firms like Halliburton.
Patterson-UTI Energy, Inc. $PTEN Shares Sold by Principal Financial Group Inc.
Principal Financial Group Inc. recently reduced its stake in Patterson-UTI Energy (NASDAQ:PTEN) by 2.8%, selling 128,992 shares. Despite this, other institutions like American Century Companies Inc. and Sourcerock Group LLC increased their positions substantially. The company reported better-than-expected Q4 revenue and a narrower loss, increased its quarterly dividend by 25% to $0.10, and announced a 15% CapEx reduction, signaling a focus on cash returns.
Patterson UTI Energy (PTEN) Loss Narrowing In Q4 Challenges Persistent Bearish Narratives
Patterson-UTI Energy (PTEN) reported Q4 2025 revenue of US$1.2 billion and a basic EPS loss of US$0.02, showing a significant narrowing of losses compared to previous quarters. While the company remains unprofitable on a trailing twelve-month basis, the reduced quarterly losses challenge persistent bearish narratives. Despite concerns about ongoing unprofitability and an uncovered dividend, the stock's low P/S ratio and a substantial gap to its DCF fair value present a more bullish perspective.
Patterson-UTI Energy, Inc. (NASDAQ:PTEN) Q4 2025 Earnings Call Transcript
Patterson-UTI Energy (NASDAQ:PTEN) reported a strong Q4 2025, delivering $416 million in adjusted free cash flow for the year and announcing a 25% increase in its quarterly dividend to $0.10 per share. Despite a challenging commodity environment and moderate U.S. oil activity, the company highlighted its focus on operational excellence, differentiated technology, and cost controls across its drilling, completion, and drilling products segments. PTEN expects to maintain robust free cash flow generation and continue strategic capital deployment, including share repurchases and investments in advanced technology like 100% natural gas-powered frac equipment and the new eos digital completions platform, while reducing gross CapEx for 2026.
Patterson-UTI reports 94 drilling rigs operating in January By Investing.com
Patterson-UTI Energy, Inc. reported an average of 94 drilling rigs operating in the United States during January 2026, with the company's stock showing significant recent momentum. The company provides drilling and completion services to oil and natural gas exploration and production companies globally. Additionally, Patterson-UTI recently exceeded Wall Street expectations in its Q4 2025 financial results, reporting a loss of $0.02 per share against an anticipated loss of $0.12, and revenue of $1.2 billion, surpassing the expected $1.1 billion.
Patterson-UTI Reports Drilling Activity for January 2026
Patterson-UTI Energy, Inc. reported that for January 2026, the company operated an average of 94 drilling rigs in the United States. These figures represent rigs earning revenue under contract and the company cautions that various factors can influence operating results beyond just the number of active rigs. Patterson-UTI plans to continue providing monthly updates on its drilling rig activity.
Patterson-UTI Reports Drilling Activity for January 2026
Patterson-UTI Energy, Inc. (NASDAQ:PTEN) reported that it operated an average of 94 drilling rigs in the United States for the month of January 2026. The company noted that the number of operating rigs is one of many factors impacting financial results and that they will continue to provide monthly updates. Patterson-UTI is a prominent provider of drilling and completion services for oil and natural gas companies.
Patterson-UTI Energy (NASDAQ:PTEN) Price Target Raised to $11.00
Stifel Nicolaus has raised its price target for Patterson-UTI Energy (NASDAQ:PTEN) to $11.00 from $9.00, maintaining a "buy" rating. This new target implies a potential upside of 28.43% from the stock's current price, despite the MarketBeat consensus rating remaining "Hold" with an average target of $7.39. The adjustment follows Patterson-UTI Energy exceeding quarterly earnings and revenue expectations, leading to a 4.8% stock increase.
RBC Raises Price Target on Patterson-UTI Energy to $9 From $8, Keeps Outperform Rating
RBC has increased its price target for Patterson-UTI Energy (PTEN) to $9 from $8, while maintaining an "Outperform" rating on the stock. This update comes after Patterson-UTI Energy reported its Q4 2025 earnings call, where it posted a narrower fiscal Q4 loss and higher-than-expected revenue. The company operates in drilling and completion services for oil and natural gas exploration.
Patterson-UTI Energy Q4 Loss Narrower Than Expected, Revenues Beat
Patterson-UTI Energy (PTEN) reported a narrower-than-expected Q4 2025 adjusted net loss of 2 cents per share, surpassing the Zacks Consensus Estimate of an 11-cent loss. Total revenues reached $1.2 billion, exceeding expectations by 5%, primarily driven by strong performance in the Completion Services segment. The company's board also approved a 25% increase in its quarterly dividend to 10 cents per share.
Patterson-UTI Energy (PTEN): Quiet Oil Stock Suddenly on Watchlists – Is It Worth the Hype?
Patterson-UTI Energy (PTEN) is an oilfield services stock that is gaining quiet attention from finance creators, who see it as a potential value play in the energy sector, rather than a viral sensation. The article discusses PTEN's stock performance, business model, and competitive landscape against rivals like Helmerich & Payne (HP), highlighting its cyclical nature and appeal to investors focused on cash flow and the energy cycle. It concludes that PTEN could be a worthwhile investment for those who understand the cyclical energy market, despite lacking mainstream hype.
Earnings call transcript: Patterson-UTI Energy Q4 2025 beats EPS forecast
Patterson-UTI Energy (PTEN) reported Q4 2025 financial results, significantly beating EPS and revenue forecasts. The company posted a loss of $0.02 per share against an anticipated loss of $0.12, with revenue reaching $1.2 billion compared to the expected $1.1 billion. Following this strong performance, Patterson-UTI's stock rose 2.64% in premarket trading, reflecting investor confidence and the company's strategic focus on advanced drilling technology and international expansion.
Patterson-UTI Energy Q4 Loss Narrower Than Expected, Revenues Beat
Patterson-UTI Energy (PTEN) reported a narrower-than-expected adjusted net loss of 2 cents per share for Q4 2025, beating the Zacks Consensus Estimate of an 11-cent loss, aided by improvement in its Completions Services segment and reduced operating costs. Total revenues of $1.2 billion also surpassed estimates, driven by strong performance in Completion Services, despite a slight year-over-year decrease in the top line. The company also announced a 25% increase in its quarterly dividend.
Patterson-UTI Energy, Inc. (NASDAQ:PTEN) Announces Quarterly Dividend of $0.10
Patterson-UTI Energy (NASDAQ:PTEN) announced a quarterly dividend of $0.10 per share, a 25% increase from its previous dividend, payable on March 16th to shareholders of record on March 2nd. Despite this increase, the company's dividend sustainability is questioned due to a negative payout ratio and analysts' forecasts suggesting future payouts will exceed earnings. The oil and gas company recently reported better-than-expected earnings, with an EPS of ($0.02) and revenue of $1.15 billion, leading to a 4% rise in its shares.
Is Patterson-UTI Energy (PTEN) Offering Value After Mixed Multi‑Year Share Price Performance?
Patterson-UTI Energy (PTEN) is currently valued at US$7.95 per share, and Simply Wall St's analysis suggests it is undervalued. A Discounted Cash Flow (DCF) model estimates the intrinsic value at $24.65, indicating a 67.8% undervaluation. The Price-to-Sales (P/S) ratio of 0.62x also suggests undervaluation when compared to the industry average and Simply Wall St's Fair Ratio of 0.73x.
Patterson UTI Energy (PTEN) Valuation Check After Launch Of Eos Completions Digital Platform
Patterson-UTI Energy (PTEN) is in focus after its subsidiary launched the eos Completions Digital Platform, leading to significant share price momentum. While a narrative-based valuation suggests PTEN is 8.5% overvalued at $7.20 compared to its current $7.81, a discounted cash flow model points to a much higher future value of $24.59. The article highlights the tension between these valuations and encourages investors to conduct their own research on the company's potential.
Patterson-UTI Energy Inc (NASDAQ:PTEN) Reports Mixed Q4 2025 Results with Earnings Beat and Dividend Hike
Patterson-UTI Energy Inc (NASDAQ:PTEN) reported mixed Q4 2025 results, with an earnings beat (net loss of $0.02 per share vs. an anticipated $0.12 loss) but a continued net loss overall. The company announced a 25% increase in its quarterly dividend to $0.10 per share and provided Q1 2026 guidance indicating a slight sequential decline in activity, while emphasizing strategic investments in technology and a commitment to returning capital to shareholders.
Patterson-UTI (PTEN) Reports Q4 Loss, Beats Revenue Estimates
Patterson-UTI (PTEN) reported a Q4 loss of $0.02 per share, outperforming the Zacks Consensus Estimate of a $0.11 loss and a year-ago loss of $0.12 per share. The company's revenues for the quarter reached $1.15 billion, surpassing estimates by 4.65% but slightly down from $1.16 billion a year prior. Despite strong financial results, the stock currently holds a Zacks Rank #3 (Hold), indicating it is expected to perform in line with the market.
Patterson-UTI: Fourth Quarter Earnings Overview
Patterson-UTI Energy Inc. reported a net loss of $9.1 million, or 2 cents per share, for the fourth quarter, which was better than analysts' predicted loss of 11 cents per share. The company's quarterly revenue reached $1.15 billion, surpassing expectations. For the full year, Patterson-UTI recorded a total loss of $93.6 million, or 24 cents per share, on revenues of $4.83 billion.
Earnings Flash (PTEN) Patterson-UTI Energy, Inc. Reports Q4 Revenue $1.15B, vs. FactSet Est of $1.11B
Patterson-UTI Energy, Inc. (PTEN) reported its Q4 revenue at $1.15 billion, surpassing the FactSet estimate of $1.11 billion. This financial update indicates a stronger-than-expected revenue performance for the company during the fourth quarter. The article also touches upon a net loss for the fiscal Q4 but notes that the loss has narrowed.
Patterson-UTI Energy Reports Financial Results for the Quarter Ended December 31, 2025
Patterson-UTI Energy (NASDAQ: PTEN) announced its financial results for the quarter ended December 31, 2025, reporting total revenue of $1.2 billion and an Adjusted EBITDA of $221 million. Despite a challenging market, the company achieved strong free cash flow of $416 million for the full year 2025 and increased its quarterly dividend by 25% to $0.10 per share. Management highlighted strong operational execution, cost control, and progress in automation technologies across its Drilling Services, Completion Services, and Drilling Products segments.
Patterson-UTI: Q4 Earnings Snapshot
Patterson-UTI Energy Inc. reported a Q4 loss of $9.1 million, or 2 cents per share, which exceeded Wall Street's expectations. The company also surpassed revenue forecasts, posting $1.15 billion for the quarter. For the full year, Patterson-UTI reported a loss of $93.6 million on revenue of $4.83 billion.
Patterson-UTI Energy, Inc. (NASDAQ:PTEN) Short Interest Update
Patterson-UTI Energy (NASDAQ:PTEN) saw a 14.0% decrease in short interest during January, settling at 24,738,918 shares, which represents about 6.7% of its float. Insiders own 2.30% of the company, and institutional ownership stands very high at 97.91%. Analyst ratings currently average a "Hold" with a consensus price target of $7.28.
NexTier Launches eos(TM) Completions Digital Platform to Advance Real-Time Control and Data Integration
NexTier Completion Solutions, a subsidiary of Patterson-UTI Energy, has launched the eos™ Completions Digital Platform at the SPE Hydraulic Fracturing Technology Conference and Exhibition. This platform aims to enhance real-time control and data integration in completions by providing enriched data transmission from sensor to screen. It is designed to offer customizable, actionable insights, improve operational visibility, and enable faster decision-making by eliminating data silos in traditional completions workflows.
Patterson-UTI Energy, Inc. $PTEN Shares Acquired by Tejara Capital Ltd
Tejara Capital Ltd significantly increased its stake in Patterson-UTI Energy (NASDAQ: PTEN) by 65.1% in Q3, now holding 554,993 shares. This comes amidst mixed analyst sentiment, with a consensus "Hold" rating and an average price target of $7.28, while a director recently sold a substantial portion of his shares. The article also details other institutional investor activity and key financial metrics for Patterson-UTI Energy.
Patterson-UTI Energy (PTEN) to Release Earnings on Wednesday
Patterson-UTI Energy (NASDAQ:PTEN) is scheduled to release its Q4 2025 earnings after market close on Wednesday, February 4th. Analysts forecast an EPS loss of ($0.12) and revenue of $1.1003 billion. The stock currently holds a consensus "Hold" rating from analysts with an average target price of $7.28, and insiders recently decreased their holdings while institutions maintain a high ownership percentage.
Assessing Patterson-UTI Energy (PTEN) Valuation After Archer Rig Rental Deal In Vaca Muerta
Patterson-UTI Energy (PTEN) is under renewed focus following a rig rental deal with Archer for work in Argentina's Vaca Muerta shale. While recent short-term share price performance has been strong, longer-term returns present a mixed picture. Analysts currently value PTEN around $7.20, suggesting it's slightly overvalued based on cash flow assumptions, yet its P/S ratio is well below the industry average, which could indicate either significant business risks or low market expectations.
Patterson-UTI Energy, Inc. (NASDAQ:PTEN) Given Consensus Recommendation of "Hold" by Brokerages
Patterson-UTI Energy, Inc. (NASDAQ:PTEN) has received a consensus "Hold" rating from twelve brokerages, with an average 12-month price target of approximately $7.28. The company's stock trades near $7.30, with a market cap of $2.77 billion and a negative P/E ratio of -20.28. Insider activity shows Director James Carl Stewart selling a significant portion of his shares, while institutional investors collectively own 97.91% of the company's stock.
ARGA Investment Management LP Sells 7,235,578 Shares of Patterson-UTI Energy, Inc. $PTEN
ARGA Investment Management LP significantly reduced its stake in Patterson-UTI Energy (NASDAQ:PTEN) by selling 7,235,578 shares, decreasing its holding by 54.7%. Following this sale, the firm now owns 6,002,514 shares, representing about 1.56% of the company. Additionally, Director James Carl Stewart sold 368,254 shares in December, reducing his ownership by over 64%.
Patterson-UTI Energy, Inc. (NASDAQ:PTEN) Surges 25% Yet Its Low P/S Is No Reason For Excitement
Patterson-UTI Energy, Inc. (PTEN) has seen a 25% stock surge recently, but its low Price-to-Sales (P/S) ratio of 0.6x compared to an industry average of 1.3x suggests tempered excitement. The company's revenue declined by 17% last year, and analysts forecast a further 1.1% annual decrease over the next three years, contrasting with the industry's projected 4.1% growth. This weak outlook for future revenue growth is likely the reason for its modest P/S ratio, indicating that the recent stock rise might not be sustainable as shareholders temper expectations for future performance.
Patterson-UTI Energy, Inc. (NASDAQ:PTEN) Surges 25% Yet Its Low P/S Is No Reason For Excitement
Patterson-UTI Energy, Inc. (PTEN) shares recently surged 25%, but its low Price-to-Sales (P/S) ratio of 0.6x compared to an industry average of 1.3x is not a cause for excitement due to declining revenue and a pessimistic outlook. Analysts predict a continued revenue decrease of 1.1% per year over the next three years, contrasting with the industry's expected 4.1% annual growth. This weak forecast explains the low P/S and suggests that the share price is unlikely to see strong growth in the near future.
New York State Teachers Retirement System Has $2.86 Million Stock Position in Patterson-UTI Energy, Inc. $PTEN
The New York State Teachers Retirement System significantly increased its holdings in Patterson-UTI Energy (NASDAQ:PTEN) by 71.9% in the third quarter, now owning 551,671 shares valued at $2.86 million. The oil and gas company has a market cap of $2.71 billion, reported Q3 EPS of -$0.06 beating estimates, and pays an annualized dividend of $0.32, yielding 4.5%. Institutional investors own 97.91% of the shares, while analysts have a consensus "Hold" rating with an average target price of $7.28 despite a recent insider share sale.
