PATTERSON UTI ENERGY INC
PTEN · Drilling Oil & Gas Wells · 379.6M shares · +8%/yr ↑ shares · EDGAR filings ↗
Net buyback after stock comp: $154M (gross $201M, SBC $47M)
Reference price $12.01 · est. market cap ~$4.6B — last insider sale, 2026-06-08 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
C57Large, scaled drilling/completion services provider with strong cash flow but a cyclically depressed loss year.
Strengths
- FCF $372M (81st pct) and OCF margin 20% (76th pct); cash $419M, debt/equity 0.38 — solid cash generation through the cycle
- Diversified across drilling, completion and drilling-products with the No-borrowings revolver giving ~$495M liquidity
Risks
- Net loss for the year (ROA -1.7%, ROE -2.9%, ~40th pct) after prior goodwill impairment; revenue down 9.8% (14th pct)
- Highly cyclical, commodity-price-driven demand with declining contract-drilling backlog ($291M vs $426M)
Notable findings
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Operating margin
-0.8%
Net margin
-1.9%
Return on equity
-2.9%
Return on assets
-1.7%
ROIC
-0.7%
Revenue growth (QoQ)
-2.9%
Debt / equity
0.4×
Current ratio
1.6×
Free cash flow
$372M
Tangible book value
$1.9B
Cash & investments
$419M
Stock comp / revenue
0.8%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-09 | Robinson Forrest C | Tax withheld | 5.7K | $11.90 |
| 2026-06-09 | Robinson Forrest C | Grant | 21K | — |
| 2026-06-08 | Robinson Forrest C | Sell | 14K | $12.01 |
| 2026-06-05 | Hendricks William Andrew JR | Sell | 200K | $11.64 |
| 2026-05-28 | Holcomb James Michael | Sell | 150K | $11.47 |
| 2026-05-09 | Smith Charles Andrew | Tax withheld | 13K | $11.42 |
| 2026-05-09 | Hendricks William Andrew JR | Tax withheld | 49K | $11.42 |
| 2026-05-09 | Holcomb James Michael | Tax withheld | 12K | $11.42 |
| 2026-05-09 | Wexler Seth David | Tax withheld | 10K | $11.42 |
| 2026-05-09 | BERNS KENNETH N | Tax withheld | 12K | $11.42 |
| 2026-05-05 | Jaime Cesar | Sell | 10K | $12.29 |
| 2026-05-05 | Hendricks William Andrew JR | Tax withheld | 32K | $12.29 |
| 2026-05-05 | Holcomb James Michael | Tax withheld | 9.7K | $12.29 |
| 2026-05-05 | Wexler Seth David | Tax withheld | 8.2K | $12.29 |
| 2026-05-05 | Smith Charles Andrew | Tax withheld | 12K | $12.29 |
| 2026-05-05 | BERNS KENNETH N | Tax withheld | 13K | $12.29 |
| 2026-05-04 | Drummond Robert Wayne Jr | Sell | 61K | $12.02 |
| 2026-05-01 | Holcomb James Michael | Disposition | 23K | $10.80 |
| 2026-05-01 | Drummond Robert Wayne Jr | Sell | 323K | $12.04 |
| 2026-05-01 | Hendricks William Andrew JR | Tax withheld | 54K | $12.22 |
| 2026-05-01 | Hendricks William Andrew JR | Option exercise | 97K | — |
| 2026-05-01 | Hendricks William Andrew JR | Disposition | 97K | $10.80 |
| 2026-05-01 | Hendricks William Andrew JR | Sell | 250K | $11.85 |
| 2026-05-01 | Wexler Seth David | Option exercise | 21K | — |
| 2026-05-01 | Wexler Seth David | Disposition | 21K | $10.80 |
| 2026-05-01 | Smith Charles Andrew | Tax withheld | 14K | $12.22 |
| 2026-05-01 | Smith Charles Andrew | Option exercise | 24K | — |
| 2026-05-01 | Smith Charles Andrew | Disposition | 24K | $10.80 |
| 2026-05-01 | BERNS KENNETH N | Tax withheld | 11K | $12.22 |
| 2026-05-01 | BERNS KENNETH N | Option exercise | 20K | — |
| 2026-05-01 | BERNS KENNETH N | Disposition | 20K | $10.80 |
| 2026-05-01 | Holcomb James Michael | Tax withheld | 14K | $12.22 |
| 2026-05-01 | Holcomb James Michael | Option exercise | 23K | — |
| 2026-05-01 | Wexler Seth David | Tax withheld | 11K | $12.22 |
| 2026-04-30 | BERNS KENNETH N | Grant | 48K | — |
| 2026-04-30 | Smith Charles Andrew | Grant | 58K | — |
| 2026-04-30 | Hendricks William Andrew JR | Grant | 233K | — |
| 2026-04-30 | Wexler Seth David | Grant | 49K | — |
| 2026-04-30 | Holcomb James Michael | Grant | 55K | — |
| 2026-03-16 | Drummond Robert Wayne Jr | Sell | 165K | $10.18 |
| 2026-03-04 | CEPAK TIFFANY THOM | Sell | 12K | $8.86 |
| 2026-02-13 | Drummond Robert Wayne Jr | Sell | 400K | $8.17 |
| 2026-01-01 | Jaime Cesar | Grant | 29K | — |
| 2026-01-01 | Judah Janeen S | Grant | 29K | — |
| 2026-01-01 | STEWART JAMES CARL | Grant | 29K | — |
| 2026-01-01 | Drummond Robert Wayne Jr | Grant | 29K | — |
| 2026-01-01 | Nelson Amy H | Grant | 29K | — |
| 2026-01-01 | Halverson Gary M. | Grant | 29K | — |
| 2026-01-01 | CEPAK TIFFANY THOM | Grant | 29K | — |
| 2026-01-01 | HUFF CURTIS W | Grant | 40K | — |
| 2026-01-01 | ROBERTSON JULIE J | Grant | 29K | — |
| 2025-12-18 | STEWART JAMES CARL | Sell | 368K | $5.87 |
| 2025-12-17 | STEWART JAMES CARL | Sell | 350K | $5.87 |
| 2025-06-09 | Robinson Forrest C | Tax withheld | 2.8K | $5.80 |
| 2025-06-09 | Robinson Forrest C | Grant | 40K | — |
| 2025-06-02 | STEWART JAMES CARL | Sell | 74K | $5.51 |
| 2025-05-09 | Smith Charles Andrew | Tax withheld | 13K | $5.84 |
| 2025-05-09 | STEWART JAMES CARL | Sell | 5.5K | $5.98 |
| 2025-05-09 | Wexler Seth David | Tax withheld | 10K | $5.84 |
| 2025-05-09 | Holcomb James Michael | Tax withheld | 12K | $5.84 |
| 2025-05-05 | Smith Charles Andrew | Tax withheld | 12K | $6.03 |
| 2025-05-05 | Holcomb James Michael | Tax withheld | 9.7K | $6.03 |
| 2025-05-05 | Wexler Seth David | Tax withheld | 8.2K | $6.03 |
| 2025-05-01 | Hendricks William Andrew JR | Grant | 412K | — |
| 2025-05-01 | Holcomb James Michael | Grant | 97K | — |
| 2025-05-01 | Smith Charles Andrew | Grant | 102K | — |
| 2025-05-01 | BERNS KENNETH N | Grant | 85K | — |
| 2025-05-01 | Wexler Seth David | Grant | 87K | — |
| 2025-04-29 | Wexler Seth David | Tax withheld | 6.1K | $6.01 |
| 2025-04-29 | Smith Charles Andrew | Tax withheld | 8.8K | $6.01 |
| 2025-03-12 | Hendricks William Andrew JR | Buy | 25K | $7.88 |
| 2025-03-07 | STEWART JAMES CARL | Sell | 48K | $7.42 |
| 2025-03-07 | STEWART JAMES CARL | Sell | 192K | $7.41 |
| 2025-02-14 | Drummond Robert Wayne Jr | Sell | 230K | $8.89 |
| 2025-01-01 | Jaime Cesar | Grant | 21K | — |
| 2025-01-01 | CEPAK TIFFANY THOM | Grant | 21K | — |
| 2025-01-01 | ROBERTSON JULIE J | Grant | 21K | — |
| 2025-01-01 | Judah Janeen S | Grant | 21K | — |
| 2025-01-01 | Nelson Amy H | Grant | 21K | — |
| 2025-01-01 | STEWART JAMES CARL | Grant | 21K | — |
| 2025-01-01 | Beyer Leslie Ann | Grant | 21K | — |
| 2025-01-01 | Halverson Gary M. | Grant | 21K | — |
| 2025-01-01 | HUFF CURTIS W | Grant | 30K | — |
| 2025-01-01 | Drummond Robert Wayne Jr | Grant | 21K | — |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-06-04 | Exec/director changeShareholder voteOtherExhibits | filing ↗ |
| 2026-05-26 | Reg FDExhibits | filing ↗ |
| 2026-05-19 | Material agreementDebt obligationExhibits | filing ↗ |
| 2026-05-06 | OtherExhibits | filing ↗ |
| 2026-04-28 | Material agreementDebt obligationExhibits | filing ↗ |
| 2026-04-23 | ResultsOtherExhibits | filing ↗ |
| 2026-02-05 | ResultsOtherExhibits | filing ↗ |
| 2026-01-05 | ResultsReg FDExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-04 | 2026-06-04 | 0000889900-26-000044 ↗ |
| 8-K | 2026-05-26 | 2026-05-26 | 0000889900-26-000039 ↗ |
| 8-K | 2026-05-19 | 2026-05-19 | 0001193125-26-230750 ↗ |
| 8-K | 2026-05-06 | 2026-05-05 | 0001193125-26-207696 ↗ |
| 10-Q | 2026-04-28 | 2026-03-31 | 0000889900-26-000033 ↗ |
| 8-K | 2026-04-28 | 2026-04-24 | 0000889900-26-000030 ↗ |
| 8-K | 2026-04-23 | 2026-04-22 | 0000889900-26-000026 ↗ |
| 10-K | 2026-02-10 | 2025-12-31 | 0000889900-26-000013 ↗ |
| 8-K | 2026-02-05 | 2026-02-04 | 0000889900-26-000010 ↗ |
| 8-K | 2026-01-05 | 2026-01-05 | 0000889900-26-000002 ↗ |
| 10-Q | 2025-10-28 | 2025-09-30 | 0000889900-25-000074 ↗ |
| 8-K | 2025-10-23 | 2025-10-22 | 0000889900-25-000071 ↗ |