Form 4: Patterson-UTI Energy Exec Sells Shares
Statement of Changes in Beneficial Ownership
William Andrew Hendricks Jr., President & CEO of Patterson-UTI Energy Inc., reported a sale of 200,000 common shares.
Summary
- William Andrew Hendricks Jr., President & CEO and Director of Patterson-UTI Energy Inc., sold 200,000 shares of common stock.
- The sale occurred on June 5, 2026, at a weighted average price of $11.64 per share.
- The transactions ranged from $11.57 to $11.73 per share.
- Following the sale, Hendricks beneficially owns 2,542,474 shares of common stock.
Sentiment
Score: 4
Explanation: StockSavvy.ai views this as a neutral to slightly negative sentiment due to the significant sale of shares by a top executive, although the exact reasons for the sale are not disclosed.
Negatives
- A significant number of shares (200,000) were sold by a key executive.
Future Outlook
No forward-looking statements or guidance were provided in this filing.
Management Comments
- The Reporting Person undertakes to provide to Patterson-UTI Energy, Inc., any security holder of Patterson-UTI Energy, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
Industry Context
StockSavvy.ai notes that insider selling, particularly by C-suite executives, can sometimes signal a lack of confidence in future stock performance, though it can also be for personal financial planning reasons.
Stakeholder Impact
- Shareholders may view the sale of a substantial number of shares by the President & CEO with concern, potentially impacting investor confidence.
Key Dates
| Date | Description |
|---|---|
| 04/24/2013 | Date of filing of Limited Power of Attorney by Forrest Robinson. |
| 06/05/2026 | Date of earliest transaction and sale of common stock by William Andrew Hendricks Jr. |
| 06/09/2026 | Date of signature by Reporting Person (William Andrew Hendricks Jr. via Forrest Robinson). |
Recommendation
holdThe filing reports a significant sale of shares by a key executive. While this could be a negative signal, without further context on the reasons for the sale or other financial performance indicators, a 'hold' recommendation is prudent, suggesting investors monitor future filings and company performance.
Keywords
Patterson-UTI Energy, PTEN, Form 4, Insider Trading, Stock Sale, William Andrew Hendricks Jr.
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