Patterson-UTI is a leading provider of oilfield services and products to oil and natural gas exploration and production companies in the United States, including contract drilling, pressure pumping and directional drilling services.

Company profile
Ticker
PTEN
Exchange
Website
CEO
William Andrew Hendricks
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Former names
PATTERSON ENERGY INC
SEC CIK
Corporate docs
Subsidiaries
Ambar Lone Star Fluid Services LLC • Current Power Solutions, Inc. • Drilling Technologies 1 LLC • Drilling Technologies 2 LLC • Great Plains Oilfield Rental, L.L.C. • Keystone Rock & Excavation, L.L.C. • MS Directional, LLC • Patterson Petroleum LLC • Patterson-UTI Drilling Canada Limited • Patterson-UTI Drilling Company LLC ...
IRS number
752504748
PTEN stock data
News
Susquehanna Maintains Positive on Patterson-UTI Energy, Raises Price Target to $23
8 Jun 22
Benzinga's Top Ratings Upgrades, Downgrades For June 1, 2022
1 Jun 22
What 8 Analyst Ratings Have To Say About Patterson-UTI Energy
1 Jun 22
A Peek Into The Markets: US Stock Futures Mostly Higher; Crude Oil Rises Over 1%
1 Jun 22
Piper Sandler Downgrades Patterson-UTI Energy to Neutral, Announces $22.75 Price Target
1 Jun 22
Press releases
Patterson-UTI Reports Drilling Activity for May 2022
3 Jun 22
Patterson-UTI Reports Drilling Activity for April 2022
4 May 22
This Small-Cap Green Oil Play has Multiple Catalysts in Hot Market Space (EOG, PQEFF, DVN, PDCE, XOM, PTEN, MTDR, XLE)
28 Apr 22
Patterson-UTI Energy Reports Financial Results for the Three Months Ended March 31, 2022
27 Apr 22
Patterson-UTI Publishes Corporate Sustainability Report
11 Apr 22
Analyst ratings and price targets
Current price
Average target
$20.63
Low target
$20.00
High target
$22.75
Piper Sandler
Downgraded
$22.75
JP Morgan
Upgraded
$20.00
Morgan Stanley
Maintains
$20.00
Barclays
Maintains
$20.00
RBC Capital
Maintains
$20.00
Benchmark
Initiated
$21.00
Investment data
Securities sold
Number of investors
Calendar
3 May 22
26 Jun 22
31 Dec 22
Financial summary
Quarter (USD) | Mar 22 | Dec 21 | Sep 21 | Jun 21 | |
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Diluted EPS |
Annual (USD) | Dec 21 | Dec 20 | Dec 19 | Dec 18 | |
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Revenue | |||||
Cost of revenue | |||||
Operating income | |||||
Operating margin | |||||
Net income | |||||
Net profit margin | |||||
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Change in cash | |||||
Diluted EPS |
Cash burn rate (est.) | Burn method: Change in cash | Burn method: Operating income | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
---|---|---|---|---|---|---|
Cash on hand (at last report) | 48.26M | 48.26M | 48.26M | 48.26M | 48.26M | 48.26M |
Cash burn (monthly) | 23.09M | 13.82M | 9.28M | 51.69M | (no burn) | (no burn) |
Cash used (since last report) | 66.3M | 39.7M | 26.66M | 148.43M | n/a | n/a |
Cash remaining | -18.03M | 8.57M | 21.61M | -100.16M | n/a | n/a |
Runway (months of cash) | -0.8 | 0.6 | 2.3 | -1.9 | n/a | n/a |
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Community content
Recent insider trades
Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
---|---|---|---|---|---|---|---|---|---|---|
13 Jun 22 | Holcomb James Michael | Common Stock, $.01 par value per share | Sell | Dispose S | No | Yes | 17.45 | 8,333 | 145.41K | 364,775 |
10 Jun 22 | William Andrew Hendricks JR | Common Stock, $.01 par value per share | Sell | Dispose S | No | Yes | 18.69 | 7,400 | 138.31K | 1,901,374 |
10 Jun 22 | William Andrew Hendricks JR | Common Stock, $.01 par value per share | Sell | Dispose S | No | Yes | 18.05 | 192,600 | 3.48M | 1,908,774 |
26 May 22 | Berns Kenneth N | Common Stock, $.01 par value per share | Sell | Dispose S | No | Yes | 18.9 | 75,000 | 1.42M | 686,732 |
25 May 22 | Berns Kenneth N | Common Stock, $.01 par value per share | Sell | Dispose S | Yes | Yes | 17.89 | 12,000 | 214.68K | 34,000 |
25 May 22 | Berns Kenneth N | Common Stock, $.01 par value per share | Sell | Dispose S | No | Yes | 17.89 | 75,000 | 1.34M | 761,732 |
17 May 22 | Wexler Seth David | Common Stock, $.01 par value per share | Sell | Dispose S | No | Yes | 16.45 | 24,449 | 402.19K | 248,968 |
16 May 22 | Wexler Seth David | Common Stock, $.01 par value per share | Sell | Dispose S | No | Yes | 15.95 | 25,000 | 398.75K | 273,417 |
16 May 22 | Wexler Seth David | Common Stock, $.01 par value per share | Sell | Dispose S | No | Yes | 15.45 | 25,000 | 386.25K | 298,417 |
16 May 22 | William Andrew Hendricks JR | Common Stock, $.01 par value per share | Sell | Dispose S | No | Yes | 15.78 | 100,000 | 1.58M | 2,101,374 |
Institutional ownership, Q1 2022
95.2% owned by funds/institutions
13F holders | Current |
---|---|
Total holders | 262 |
Opened positions | 60 |
Closed positions | 29 |
Increased positions | 84 |
Reduced positions | 89 |
13F shares | Current |
---|---|
Total value | 92.89B |
Total shares | 205.91M |
Total puts | 2.8M |
Total calls | 3.84M |
Total put/call ratio | 0.7 |
Largest owners | Shares | Value |
---|---|---|
BLK Blackrock | 35.47M | $549.06M |
Vanguard | 23.99M | $371.35M |
MCQEF Macquarie | 13.25M | $205.09M |
Van Eck Associates | 10.96M | $169.68M |
STT State Street | 8.83M | $136.75M |
Dimensional Fund Advisors | 8.81M | $136.34M |
Allspring Global Investments | 6.74M | $104.39M |
Kahn Brothers | 5.8M | $89.71B |
Fuller & Thaler Asset Management | 5.45M | $84.43M |
Millennium Management | 5.13M | $79.41M |
Financial report summary
?Competition
Pioneer Energy Services • RPC • FTS International • U.S. Well Services • NexTier Oilfield Solutions • Liberty EnergyContent analysis
?Positive | ||
Negative | ||
Uncertain | ||
Constraining | ||
Legalese | ||
Litigous | ||
Readability |
H.S. freshman Avg
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New words:
abroad, acquiree, advance, assigned, begun, cementing, chain, clearance, Clearwell, conflict, constant, coupled, data, discipline, environment, fewer, flat, floor, foreign, geopolitical, hydraulic, legacy, macro, match, meaningful, modernize, month, mud, ordinary, outlook, preceding, provisionally, quoted, readily, Release, remedial, sequential, sequentially, shifted, slightly, spec, specialist, stimulation, strong, super, Supplementary, tangible, tight, twelfth, Ukraine, underneath
Removed:
AC, achieve, acted, adjustment, aggregated, aging, allocating, Amendment, APEX, approach, approximated, arrangement, ASU, bankruptcy, broader, capable, capitalizing, close, collectability, combined, communicate, comparable, computed, contractually, counterparty, declined, disclose, drew, eliminate, emergence, enacted, enhanced, expensed, expired, extend, floating, focusing, framework, goodwill, hosting, impaired, implementation, implemented, indirect, instrument, intended, intent, Junior, lieu, lowered, maintaining, mandatory, measurement, minimum, modify, OPEC, original, oversupplied, pad, par, Participating, percent, perform, performing, placement, pool, pound, powered, Preferred, prepay, reach, removed, representative, Rescue, restructuring, section, shortfall, significantly, software, steering, streamline, substantial, supportable, swiftly, terminal, test, testing, Trust, unobservable, utilized, wellbore, workforce, workover
Financial reports
Current reports
8-K
Regulation FD Disclosure
22 Jun 22
8-K
Departure of Directors or Certain Officers
3 Jun 22
8-K
Results of Operations and Financial Condition
27 Apr 22
8-K
Patterson-UTI Announces Appointment of Julie J. Robertson and Cesar Jaime to Board of Directors
1 Apr 22
8-K
Results of Operations and Financial Condition
10 Feb 22
8-K
Regulation FD Disclosure
30 Nov 21
8-K
Results of Operations and Financial Condition
28 Oct 21
8-K
Patterson-UTI Completes Acquisition of Pioneer Energy Services
4 Oct 21
8-K
Regulation FD Disclosure
8 Sep 21
8-K
Results of Operations and Financial Condition
29 Jul 21
Registration and prospectus
424B3
Prospectus supplement
27 Aug 21
S-4/A
Registration of securities issued in business combination transactions (amended)
25 Aug 21
S-4
Registration of securities issued in business combination transactions
3 Aug 21
425
Business combination disclosure
29 Jul 21
425
Business combination disclosure
7 Jul 21
425
Business combination disclosure
6 Jul 21
425
Business combination disclosure
6 Jul 21
S-8
Registration of securities for employees
3 Jun 21
8-A12B/A
Registration of securities on exchange (amended)
23 Jul 20
8-A12B
Registration of securities on exchange
23 Apr 20
Proxies
DEFA14A
Additional proxy soliciting materials
11 Apr 22
DEFA14A
Additional proxy soliciting materials
12 Apr 21
DEFA14A
Additional proxy soliciting materials
10 Apr 20
DEFA14A
Additional proxy soliciting materials
9 May 19
DEFA14A
Additional proxy soliciting materials
12 Apr 19
DEF 14A
Definitive proxy
23 Apr 18
Other
SD
Conflict minerals disclosure
23 May 22
EFFECT
Notice of effectiveness
30 Aug 21
CORRESP
Correspondence with SEC
24 Aug 21
UPLOAD
Letter from SEC
15 Aug 21
SD
Conflict minerals disclosure
28 May 21
SD
Conflict minerals disclosure
31 May 19
EFFECT
Notice of effectiveness
10 Aug 18
CORRESP
Correspondence with SEC
6 Aug 18
UPLOAD
Letter from SEC
5 Aug 18
CORRESP
Correspondence with SEC
30 Jul 18
Ownership
4
PATTERSON UTI ENERGY / James Michael Holcomb ownership change
14 Jun 22
4
PATTERSON UTI ENERGY / William Andrew Hendricks JR ownership change
14 Jun 22
4
PATTERSON UTI ENERGY / KENNETH N BERNS ownership change
27 May 22
4
PATTERSON UTI ENERGY / William Andrew Hendricks JR ownership change
18 May 22
4
PATTERSON UTI ENERGY / Seth David Wexler ownership change
18 May 22
4
PATTERSON UTI ENERGY / William Andrew Hendricks JR ownership change
12 May 22
4
PATTERSON UTI ENERGY / Seth David Wexler ownership change
4 May 22
4
PATTERSON UTI ENERGY / James Michael Holcomb ownership change
4 May 22
4
PATTERSON UTI ENERGY / KENNETH N BERNS ownership change
4 May 22
4
PATTERSON UTI ENERGY / Charles Andrew Smith ownership change
29 Apr 22
Transcripts
2022 Q1
Earnings call transcript
28 Apr 22
2021 Q4
Earnings call transcript
10 Feb 22
2021 Q3
Earnings call transcript
28 Oct 21
2021 Q2
Earnings call transcript
29 Jul 21
2021 Q1
Earnings call transcript
29 Apr 21
2020 Q4
Earnings call transcript
4 Feb 21
2020 Q3
Earnings call transcript
22 Oct 20
2020 Q2
Earnings call transcript
23 Jul 20
2020 Q1
Earnings call transcript
23 Apr 20
2019 Q4
Earnings call transcript
6 Feb 20
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