PTEN Patterson-UTI Energy
Patterson-UTI Energy, Inc. engages in the provision of onshore contract drilling services to major and independent oil and natural gas operators. It operates through the following segments: Contract Drilling Services, Pressure Pumping Services, and Directional Drilling Services. The Contract Drilling Services segment markets its services to major and independent oil and natural gas operators. The Pressure Pumping Services segment provides pressure pumping services to oil and natural gas operators primarily in Texas and the Appalachian Basin. The Directional Drilling Services segment offers downhole performance motors and equipment to provide services including directional drilling, downhole performance motors, motor rentals, directional surveying, measurement-while-drilling, and wireline steering tools, in most major onshore oil and natural gas basins. The company was founded by Cloyce A. Talbott and A. Glenn Patterson in 1978 and is headquartered in Houston, TX.
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
IRS number
752504748
PTEN stock data
()
Press releases
Patterson-UTI Reports Drilling Activity for May 2021
3 Jun 21
Patterson-UTI Reports Drilling Activity for April 2021
5 May 21
Patterson-UTI Energy, Inc. to Host Earnings Call
29 Apr 21
Patterson-UTI Energy Reports Financial Results for the Three Months Ended March 31, 2021
29 Apr 21
Patterson-UTI Reports Drilling Activity for March 2021
6 Apr 21
Investment data
Securities sold
Number of investors
Calendar
4 May 21
13 Jun 21
31 Dec 21
Financial summary
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Dec 20 | Dec 19 | Dec 18 | Dec 17 | |
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Financial data from company earnings reports.
| Cash burn rate (estimated) | Burn method: Change in cash | Burn method: Operating income/loss | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
|---|---|---|---|---|---|---|
| Cash on hand (at last report) | 214.14M | 214.14M | 214.14M | 214.14M | 214.14M | 214.14M |
| Cash burn (monthly) | 3.59M | (positive/no burn) | 42.46M | 46.13M | (positive/no burn) | (positive/no burn) |
| Cash used (since last report) | 8.82M | n/a | 104.31M | 113.32M | n/a | n/a |
| Cash remaining | 205.32M | n/a | 109.83M | 100.83M | n/a | n/a |
| Runway (months of cash) | 57.2 | n/a | 2.6 | 2.2 | n/a | n/a |
Recent insider trades
| Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
|---|---|---|---|---|---|---|---|---|---|---|
| 27 Apr 21 | William Andrew Hendricks JR | Common Stock, $.01 par value per share | Payment of exercise | Dispose F | No | No | 6.37 | 84,131 | 535.91K | 2,091,319 |
| 27 Apr 21 | William Andrew Hendricks JR | Common Stock, $.01 par value per share | Grant | Aquire A | No | No | 0 | 213,800 | 0 | 2,175,450 |
| 27 Apr 21 | William Andrew Hendricks JR | Common Stock, $.01 par value per share | Grant | Aquire A | No | No | 0 | 356,000 | 0 | 1,961,650 |
| 27 Apr 21 | Smith Charles Andrew | Common Stock, $.01 par value per share | Payment of exercise | Dispose F | No | No | 6.37 | 11,153 | 71.04K | 465,525 |
| 27 Apr 21 | Smith Charles Andrew | Common Stock, $.01 par value per share | Grant | Aquire A | No | No | 0 | 45,800 | 0 | 476,678 |
| 27 Apr 21 | Smith Charles Andrew | Common Stock, $.01 par value per share | Grant | Aquire A | No | No | 0 | 134,000 | 0 | 430,878 |
| 27 Apr 21 | Berns Kenneth N | Common Stock, $.01 par value per share | Payment of exercise | Dispose F | No | No | 6.37 | 32,725 | 208.46K | 1,091,772 |
| 27 Apr 21 | Berns Kenneth N | Common Stock, $.01 par value per share | Grant | Aquire A | No | No | 0 | 79,400 | 0 | 1,124,497 |
| 27 Apr 21 | Berns Kenneth N | Common Stock, $.01 par value per share | Grant | Aquire A | No | No | 0 | 133,200 | 0 | 1,045,097 |
| 27 Apr 21 | Holcomb James Michael | Common Stock, $.01 par value per share | Payment of exercise | Dispose F | No | No | 6.37 | 10,033 | 63.91K | 536,356 |
Institutional ownership Q1 2021
Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.
91.4% owned by funds/institutions
13F holders |
Current |
|---|---|
| Total holders | 207 |
| Opened positions | 16 |
| Closed positions | 40 |
| Increased positions | 65 |
| Reduced positions | 87 |
13F shares |
Current |
|---|---|
| Total value | 1.23B |
| Total shares | 172.24M |
| Total puts | 288.2K |
| Total calls | 129.6K |
| Total put/call ratio | 2.2 |
Largest owners |
Shares | Value |
|---|---|---|
| BLK Blackrock | 32.94M | $234.89M |
| Vanguard | 20.97M | $149.54M |
| Dimensional Fund Advisors | 10.02M | $71.42M |
| Fuller & Thaler Asset Management | 8.87M | $63.23M |
| MCQEF Macquarie | 7.67M | $54.71M |
| STT State Street | 7.55M | $53.83M |
| WFC Wells Fargo & Co. | 6.59M | $46.99M |
| Renaissance Technologies | 5.88M | $41.94M |
| Kahn Brothers | 5.63M | $40.14M |
| Van Eck Associates | 4.57M | $32.58M |
Financial report summary
?Competition
Pioneer Energy Services • RPC • FTS International • U.S. Well Services • NexTier Oilfield Solutions • Liberty Oilfield ServicesManagement Discussion
- ITEM 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations
- Management Overview and Recent Developments in Market Conditions — We are a Houston, Texas-based oilfield services company that primarily owns and operates one of the largest fleets of land-based drilling rigs in the United States and a large fleet of pressure pumping equipment.
- Our contract drilling business operates in the continental United States and, from time to time, we pursue contract drilling opportunities in other select markets. Our pressure pumping business operates primarily in Texas and the Appalachian region. We also provide a comprehensive suite of directional drilling services in most major producing onshore oil and gas basins in the United States, and we provide services that improve the statistical accuracy of horizontal wellbore placement. We have other operations through which we provide oilfield rental tools in select markets in the United States. We also service equipment for drilling contractors, and we provide electrical controls and automation to the energy, marine and mining industries, in North America and other select markets. In addition, we own and invest, as a non-operating working interest owner, in oil and natural gas assets that are primarily located in Texas and New Mexico.
Content analysis
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H.S. freshman Avg
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New words:
bankruptcy, carryback, climate, counterparty, crewed, emergence, forecasted, frac, intent, percent, refund, Rescue, stacked, taxable, ultimate, Ultimately
Removed:
acquiring, acquisition, adjust, advance, announced, announcement, apply, approval, assumed, assuming, assumption, attempting, authorizing, avoid, begin, beneficial, beneficially, bore, brought, certificate, chain, Charter, closed, commenced, commercial, conduct, connectivity, consent, contingent, convergence, conversion, corporation, coupled, created, cut, deemed, Delaware, delay, depreciate, depressed, depression, deprive, deteriorate, deteriorated, difficult, digital, Discourage, discouraged, dispose, disruption, dynamic, earlier, economy, entry, enumerate, environment, essential, estate, evaluating, exacerbated, exceeded, exercisable, exit, failing, fluctuated, foreseeable, gain, health, hire, holding, idle, idled, impose, imposition, inability, incorporation, indefinite, interact, leased, leasing, legacy, lessee, lessor, meeting, merger, mitigate, NaN, nominated, notification, October, Ongoing, operate, Organization, outbreak, pace, passive, people, persist, pertaining, policy, portfolio, prepaid, preparation, preserve, preventative, psi, quarantining, rationalization, raw, real, reallocation, recession, recover, recoverability, recovery, reflect, regional, reject, remote, renegotiate, resulted, retention, retirement, salvage, seeking, sell, shift, shortly, significance, situation, stated, structural, suspension, terminate, timeframe, translated, travel, treat, turmoil, unable, unapproved, uncertain, undertaken, undistributed, unprecedented, void, vote, voting, vulnerable, warranted, withheld, withholding, work, world
Financial reports
10-Q
2021 Q1
Quarterly report
4 May 21
10-K
2020 FY
Annual report
9 Feb 21
10-Q
2020 Q3
Quarterly report
27 Oct 20
10-Q
2020 Q2
Quarterly report
28 Jul 20
10-Q
2020 Q1
Quarterly report
28 Apr 20
10-K/A
2019 FY
Annual report (amended)
14 Feb 20
10-K
2019 FY
Annual report
13 Feb 20
10-Q
2019 Q3
Quarterly report
30 Oct 19
10-Q
2019 Q2
Quarterly report
29 Jul 19
10-Q
2019 Q1
Quarterly report
29 Apr 19
Current reports
8-K
Departure of Directors or Certain Officers
3 Jun 21
8-K
Results of Operations and Financial Condition
29 Apr 21
8-K
Results of Operations and Financial Condition
4 Feb 21
8-K
Results of Operations and Financial Condition
22 Oct 20
8-K
Regulation FD Disclosure
8 Sep 20
8-K
Entry into a Material Definitive Agreement
23 Jul 20
8-K
Departure of Directors or Certain Officers
4 Jun 20
8-K
Departure of Directors or Certain Officers
12 May 20
8-K
Patterson-UTI Adopts a Limited Duration Shareholder Rights Agreement
23 Apr 20
8-K
Results of Operations and Financial Condition
23 Apr 20
Registration and prospectus
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
424B5
Prospectus supplement for primary offering
12 Nov 19
FWP
Free writing prospectus
7 Nov 19
424B2
Prospectus for primary offering
7 Nov 19
S-3ASR
Automatic shelf registration
7 Nov 19
S-8
Registration of securities for employees
6 Jun 19
D
$2.67M in equity, sold $2.67M, 1 investor
2 Nov 18
424B3
Prospectus supplement
9 Aug 18
Proxies
DEFA14A
Additional proxy soliciting materials
12 Apr 21
DEF 14A
Definitive proxy
12 Apr 21
DEFA14A
Additional proxy soliciting materials
10 Apr 20
DEF 14A
Definitive proxy
10 Apr 20
DEFA14A
Additional proxy soliciting materials
9 May 19
DEFA14A
Additional proxy soliciting materials
12 Apr 19
DEF 14A
Definitive proxy
12 Apr 19
DEF 14A
Definitive proxy
23 Apr 18
DEFA14A
Additional proxy soliciting materials
23 Apr 18
PRE 14A
Preliminary proxy
12 Apr 18
Other
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
CORRESP
Correspondence with SEC
21 Mar 17
EFFECT
Notice of effectiveness
21 Mar 17
CORRESP
Correspondence with SEC
20 Mar 17
CORRESP
Correspondence with SEC
12 Mar 17
Ownership
4
PATTERSON UTI ENERGY / James Michael Holcomb ownership change
29 Apr 21
4
PATTERSON UTI ENERGY / Seth David Wexler ownership change
29 Apr 21
4
PATTERSON UTI ENERGY / KENNETH N BERNS ownership change
29 Apr 21
4
PATTERSON UTI ENERGY / Charles Andrew Smith ownership change
29 Apr 21
4
PATTERSON UTI ENERGY / William Andrew Hendricks JR ownership change
29 Apr 21
4
PATTERSON UTI ENERGY / Seth David Wexler ownership change
26 Apr 21
4
PATTERSON UTI ENERGY / James Michael Holcomb ownership change
26 Apr 21
4
PATTERSON UTI ENERGY / James Michael Holcomb ownership change
8 Apr 21
4
PATTERSON UTI ENERGY / Seth David Wexler ownership change
8 Apr 21
4
PATTERSON UTI ENERGY / Charles Andrew Smith ownership change
8 Apr 21
Transcripts
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
2019 Q3
Earnings call transcript
24 Oct 19
2019 Q2
Earnings call transcript
25 Jul 19
2019 Q1
Earnings call transcript
25 Apr 19
2018 Q4
Earnings call transcript
7 Feb 19
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