Patterson-UTI Energy CEO sells $2.98m in common stock By Investing.com

William Andrew Hendricks Jr., President and CEO of Patterson-UTI Energy Inc. (), disposed of 250,000 shares of the company’s common stock on September 18, 2026. The transactions totaled approximately $2,977,500.

The shares were sold at a weighted average price of $11.91 per share, with individual sales occurring in a range from $11.82 to $11.99, inclusive. These sales were conducted pursuant to a Rule 10b5-1 trading plan, which Mr. Hendricks adopted on June 18, 2026.The insider sale comes as Patterson-UTI shares have delivered a remarkable 123% return over the past year, currently trading at $11.42. According to InvestingPro analysis, the stock remains undervalued relative to its Fair Value, placing it among the most undervalued stocks in the energy sector. The company has maintained dividend payments for 23 consecutive years, currently offering a 3.4% yield.

Following these transactions, Mr. Hendricks directly beneficially owns 2,042,474 shares of Patterson-UTI Energy common stock.

In other recent news, Patterson-UTI Energy reported a 10% increase in second-quarter revenue, reaching $1.23 billion, surpassing Wall Street expectations by nearly 7%. The company’s adjusted earnings were in line with forecasts, showing a loss of 5 cents per share. This performance was driven by stronger activity in drilling services, completions, and drilling products. Meanwhile, Piper Sandler reiterated its Overweight rating for Patterson-UTI Energy, maintaining a price target of $14.00. Discussions with the company’s CEO and investor relations highlighted a positive outlook on frac price recovery and a focus on free cash flow generation. Barclays analysts noted that Patterson-UTI Energy, along with other firms, provided an optimistic outlook for the North American drilling and completion services market. This contrasts with more cautious perspectives from other industry players like Halliburton and Liberty Energy. These developments reflect Patterson-UTI Energy’s strategic focus and market positioning amid evolving industry dynamics.

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