The President & CEO of Patterson-UTI (NASDAQ: PTEN) is Buying Shares

By Carrie Williams

Yesterday, the President & CEO of Patterson-UTI (PTENResearch Report), William Andrew Hendricks, bought shares of PTEN for $102K.

In addition to William Andrew Hendricks, 6 other PTEN executives reported Buy trades in the last month. This recent transaction increases William Andrew Hendricks’ holding in the company by 4.57% to a total of $2.42 million.

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The company has a one-year high of $16.27 and a one-year low of $1.80.

Four different firms, including Evercore ISI and Morgan Stanley, currently also have a Buy rating on the stock.

The insider sentiment on Patterson-UTI has been positive according to 29 insider trades in the past three months. This sentiment is higher than the average sentiment of company insiders in this sector.

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Patterson-UTI Energy, Inc. engages in the provision of onshore contract drilling services to major and independent oil and natural gas operators. It operates through the following segments: Contract Drilling Services, Pressure Pumping Services, and Directional Drilling Services.