Form 4: Patterson-UTI Energy Inc. Director Sells Shares in Open Market
SEC Form 4
Director Robert Wayne Drummond Jr. sold a portion of his Patterson-UTI Energy Inc. shares in transactions on February 29, 2024, and March 1, 2024.
Summary
- Robert Wayne Drummond Jr., a director of Patterson-UTI Energy Inc., sold shares of the company's common stock on February 29, 2024, and March 1, 2024.
- On February 29, 2024, he sold 187,916 shares at a weighted average price of $11.73 per share.
- On March 1, 2024, he sold 65,344 shares at a weighted average price of $11.76 per share.
- Following these transactions, Drummond directly owns 2,407,895 shares of Patterson-UTI Energy Inc.
Sentiment
Score: 5
Explanation: This is a neutral event. It's a routine disclosure of a director selling shares, which doesn't inherently indicate positive or negative sentiment about the company's future prospects.
Industry Context
This filing is a routine disclosure of insider trading activity, which is common for directors and officers of publicly traded companies. The market may interpret this sale in various ways, but it's essential to consider the context of the individual's overall holdings and the company's performance.
Stakeholder Impact
- Shareholders may react to the news of the director's share sale, although the impact is likely to be minimal given the size of the transactions relative to the director's total holdings.
Key Dates
| Date | Description |
|---|---|
| 02/29/2024 | Director sold 187,916 shares at a weighted average price of $11.73. |
| 03/01/2024 | Director sold 65,344 shares at a weighted average price of $11.76. |
| 03/04/2024 | Date of signature for the SEC filing. |
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