CEO Sells $2.96M in Open Market Shares, Locks in Gains Near 52-Week High
summarizeSummary
Patterson-UTI Energy's President & CEO, William A. Hendricks Jr., executed an open market sale of 250,000 shares for $2.96 million, following a previously disclosed intent to sell.
check_boxKey Events
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CEO Open Market Sale
President & CEO William A. Hendricks Jr. sold 250,000 shares in an open market transaction for $2,962,500.00 at an average price of $11.85 per share on May 1, 2026.
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Total Insider Dispositions
The CEO's total dispositions, including the open market sale, tax withholdings, and cash-settled RSU dispositions, amounted to $4,673,442.
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Stock Trading Near Highs
This selling activity occurred while the company's stock is trading near its 52-week high, suggesting the insider is realizing gains.
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Follows Form 144 Filing
This Form 4 reports the execution of the intent to sell 250,000 shares previously disclosed in a Form 144 filed on May 1, 2026.
auto_awesomeAnalysis
This Form 4 filing confirms the sale of shares by President & CEO William A. Hendricks Jr., which was previously indicated by a Form 144. The open market sale of 250,000 shares for $2.96 million, combined with other dispositions including tax withholdings and cash-settled RSU settlements, totals over $4.6 million in sales. This significant insider selling activity, occurring while the stock trades near its 52-week high, could be interpreted as the CEO taking profits. Investors should note the continued distribution signal from insiders, as indicated by the recent net insider selling trend.
At the time of this filing, PTEN was trading at $12.20 on NASDAQ in the Energy & Transportation sector, with a market capitalization of approximately $4.7B. The 52-week trading range was $5.10 to $12.42. This filing was assessed with negative market sentiment and an importance score of 7 out of 10.