<div id="readability-page-1"><p>Patterson-UTI Energy, Inc. (NASDAQ:PTEN - Get Free Report)'s share price reached a new 52-week high on Monday . The stock traded as high as $12.67 and last traded at $12.7220, with a volume of 934546 shares traded. The stock had previously closed at $12.42.</p><div><p><span></span><span>Get <strong>Patterson-UTI Energy</strong> alerts:</span></p></div><h2>Wall Street Analyst Weigh In</h2><ul><li>Oil Shorts Are Crowded, 3 Names That Could Bring on a Squeeze</li></ul><p>Several research analysts have recently weighed in on the stock. The Goldman Sachs Group upped their price target on shares of Patterson-UTI Energy from $9.00 to $11.00 and gave the stock a &#34;buy&#34; rating in a report on Wednesday, April 15th. Capital One Financial raised shares of Patterson-UTI Energy from an &#34;equal weight&#34; rating to an &#34;overweight&#34; rating and set a $12.00 price target for the company in a research note on Monday, April 20th. Susquehanna boosted their price target on shares of Patterson-UTI Energy from $10.00 to $13.00 and gave the stock a &#34;positive&#34; rating in a research note on Tuesday, April 7th. Royal Bank Of Canada boosted their price target on shares of Patterson-UTI Energy from $12.00 to $14.00 and gave the stock an &#34;outperform&#34; rating in a research note on Friday, April 24th. Finally, Zacks Research raised shares of Patterson-UTI Energy from a &#34;hold&#34; rating to a &#34;strong-buy&#34; rating in a research note on Friday, April 10th. One investment analyst  has rated the stock with a Strong Buy rating, seven have issued  a Buy rating, four have issued  a Hold rating and two have assigned  a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of &#34;Moderate Buy&#34; and an average price target of $11.80.</p><p><b>Read Our Latest Stock Report on Patterson-UTI Energy</b></p><h2>Patterson-UTI Energy Trading Up 3.1%</h2><ul><li>Why Goldman Sachs Just Upgraded These 3 Stocks and What It Means</li></ul><p>The firm's 50-day simple moving average is $10.79 and its 200-day simple moving average is $8.23. 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 firm has a market capitalization of $4.86 billion, a PE ratio of -41.30 and a beta of 0.64. </p><p>Patterson-UTI Energy (NASDAQ:PTEN - Get Free Report) last posted its quarterly earnings results on Wednesday, April 22nd. The oil and gas company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.04. Patterson-UTI Energy had a negative net margin of 2.56% and a negative return on equity of 2.32%. The business had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.11 billion. Patterson-UTI Energy's revenue was down 12.7% on a year-over-year basis.  Equities analysts expect that  Patterson-UTI Energy, Inc. will post -0.21 earnings per share for the current year. </p><h2>Patterson-UTI Energy Dividend Announcement</h2><ul><li>Is NexTier-Patterson UTI Deal A Sign Of More Consolidation Ahead?</li></ul><p>The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date is Monday, June 1st. Patterson-UTI Energy's dividend payout ratio  is currently -129.03%. </p><h2>Insider Activity at Patterson-UTI Energy</h2><p>In other Patterson-UTI Energy news, Director Cesar Jaime sold 10,000 shares of the firm's stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $12.29, for a total value of $122,900.00. Following the completion of the sale, the director directly owned 77,462 shares in the company, valued at $952,007.98. This trade represents a 11.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO William Andrew Hendricks, Jr. sold 250,000 shares of the firm's stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $11.85, for a total transaction of $2,962,500.00. Following the completion of the sale, the chief executive officer owned 2,823,103 shares of the company's stock, valued at $33,453,770.55. This trade represents a 8.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 808,949 shares of company stock worth $9,387,035 in the last three months. 2.20% of the stock is owned by insiders. </p><h2>Institutional Inflows and Outflows</h2><p>Several institutional investors have recently modified their holdings of PTEN. Sourcerock Group LLC increased its stake in shares of  Patterson-UTI Energy by 109.2% in the 2nd quarter. Sourcerock Group LLC now owns 13,803,775 shares of the oil and gas company's stock worth $81,856,000 after acquiring an additional 7,205,652 shares in the last quarter.  Holocene Advisors LP increased its stake in shares of  Patterson-UTI Energy by 176.6% in the 3rd quarter. Holocene Advisors LP now owns 9,228,022 shares of the oil and gas company's stock worth $47,801,000 after acquiring an additional 5,891,956 shares in the last quarter.  Goldman Sachs Group Inc. increased its stake in shares of  Patterson-UTI Energy by 110.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 10,559,219 shares of the oil and gas company's stock worth $64,517,000 after acquiring an additional 5,551,276 shares in the last quarter.  UBS Group AG increased its stake in shares of  Patterson-UTI Energy by 121.2% in the 4th quarter. UBS Group AG now owns 8,320,544 shares of the oil and gas company's stock worth $50,839,000 after acquiring an additional 4,558,445 shares in the last quarter.  Finally, Millennium Management LLC increased its stake in shares of  Patterson-UTI Energy by 97.7% in the 3rd quarter. Millennium Management LLC now owns 8,989,351 shares of the oil and gas company's stock worth $46,565,000 after acquiring an additional 4,442,700 shares in the last quarter. 97.91% of the stock is currently owned by institutional investors. </p><h2>About Patterson-UTI Energy</h2> (Get Free Report)<p>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.  </p><p>Headquartered in Houston, Texas, Patterson-UTI Energy traces its origins to its founding in 1978 and was later incorporated in Delaware in 1996.</p><h2>See Also</h2><ul><li>Five stocks we like better than Patterson-UTI Energy</li><li>Why Applied Optoelectronics Stock May Be Near a Turning Point</li><li>From High-Yield to High-Growth: 3 Stocks Boosting Dividends</li><li>Is Everspin Technologies the Next AI Edge Breakout?</li><li>5 Robotics Stocks to Watch as Physical AI Builds Momentum</li></ul><p><em>This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.</em></p><h2>Should You Invest $1,000 in Patterson-UTI Energy Right Now?</h2><p>Before you consider Patterson-UTI Energy, you'll want to hear this.</p><p>MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Patterson-UTI Energy wasn't on the list.</p><p>While Patterson-UTI Energy currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.</p><p>View The Five Stocks Here</p>                  </div>

PTEN

<p>Patterson-UTI Energy (NASDAQ:PTEN) reached a new 52-week high of $12.67, closing at $12.7220. Analysts have raised their price targets, with Goldman Sachs increasing it to $11.00 and Zacks upgrading to a 'strong-buy'. The company reported a quarterly EPS of ($0.06), beating estimates, and declared a dividend of $0.10 per share. Insider trading activity included significant sales by the CEO and a director. The stock has a consensus rating of 'Moderate Buy' with an average price target of $11.80.</p>

Patterson-UTI Energy (NASDAQ:PTEN) Sets New 52-Week High - Still a Buy?