CEO Sells $2.3M in Open Market Shares
PTEN has more than doubled off its 52-week low of $5.1.
Summary
Patterson-UTI Energy's President & CEO, William A. Hendricks, executed an open market sale of 200,000 shares totaling $2.328 million.
Key Events · Ownership and Investor Activity · PTEN
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CEO Sells Shares
President & CEO William A. Hendricks sold 200,000 shares of common stock in an open market transaction on June 5, 2026.
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Significant Transaction Value
The sale amounted to $2,328,000 at a weighted average price of $11.64 per share.
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Follows Prior Intent to Sell
This transaction follows a Form 144 filed on May 1, 2026, by Mr. Hendricks, indicating his intent to sell 250,000 shares.
Analysis · PTEN · Energy & Transportation
President & CEO William A. Hendricks sold 200,000 shares for $2.328 million in an open market transaction. This sale by a key executive, following a previous Form 144 filing indicating intent to sell, represents a significant reduction in his direct holdings and could be interpreted as a negative signal regarding his near-term outlook for the company.
At the time of this filing, PTEN was trading at $11.58 on NASDAQ in the Energy & Transportation sector, with a market capitalization of approximately $4.4B. The 52-week trading range was $5.10 to $13.08. This filing was assessed with negative market sentiment and an importance score of 7 out of 10.