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Patterson-UTI Energy Inc
As of May 30, 2026 at 24:05 UTC
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About Patterson-UTI Energy Inc
Patterson-UTI Energy Inc is a Texas based provider of drilling and completion services to oil and natural gas exploration and production companies, offering contract drilling, integrated well completion, directional drilling services, and specialized drill bit solutions. The Company operates through three segments: Drilling Services, Completion Services, and Drilling Products. Drilling Services includes contract and directional drilling, Completion Services generates maximum revenue and includes hydraulic fracturing and related support services, and Drilling Products includes the manufacturing and distribution of drill bits. The Company operates in the United States, Canada, Colombia, and Other Countries, with the majority of revenue coming from the United States.
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Latest News
5 articlesPatterson-UTI Energy director Jaime Cesar sold 10,000 shares (11.43% of his direct holdings) for approximately $123,000 on May 5, 2026. However, he retained $961,000 worth of stock, suggesting confidence in the company. The article characterizes this as a routine trim rather than a significant exit signal, noting it was a deliberate open-market transaction rather than a pre-scheduled plan sale.
Rising geopolitical tensions in the Middle East have driven crude oil prices near $100 per barrel, creating favorable conditions for energy stocks. The article highlights three undervalued mid-cap energy companies positioned to benefit from higher oil prices and increased exploration activity.
Patterson-UTI Energy reported lower Q2 2024 earnings compared to the prior year due to weaker performance in its Drilling Services segment. The company's Completion Services segment saw strong revenue growth, but missed expectations. Patterson-UTI Energy returned $164 million to shareholders in Q2 and has $819 million remaining in its share repurchase authorization.
