Miller Howard Investments 13F: New $2.8M Stake in PTEN

Miller Howard Investments has taken a new position in Patterson-UTI Energy, Inc. (PTEN) by acquiring 255,108 shares, valued at approximately $2.79 million, in a filing on October 26, 2026. This move marks the fund's first stake in the company, as it previously did not hold any shares.

PTEN Patterson-UTI Energy, Inc.

$12.25 ▲ +94.75% year to date

1M 3M YTD

Daily close · Oct 26, 2026

Where Patterson-UTI Energy Fits in Miller Howard's Portfolio

This new position accounts for about 0.26% of Miller Howard's total reported value of approximately $1.08 billion. The fund ranks 26th among its 159 holdings, indicating a relatively modest allocation to Patterson-UTI Energy.

Other Institutional Activity in Patterson-UTI Energy

American Century Companies Inc. reported 16,246,027 shares of Patterson-UTI Energy, although it reduced its stake by 160,787 shares. Sourcerock Group, LLC holds 14,553,804 shares after a reduction of 1,754,806 shares, while Fuller & Thaler Asset Management Inc. has 11,820,582 shares, down by 432,535 shares.

Patterson-UTI Energy, Inc. Stock Up 8.0%

Patterson-UTI Energy shares recently traded around $12.25. This price is significant as it reflects the market's response to the company’s performance and outlook in the energy sector.

Recent Earnings

Patterson-UTI Energy reported trailing twelve-month revenue of approximately $4.67 billion but faced a net margin of -1.9%. The company is set to announce its next earnings results on October 28, 2026.

Dividend

Patterson-UTI Energy pays an annual dividend of $0.40 per share, with a dividend payout ratio of 133.2%. This indicates that the company is currently paying out more than its earnings.

Insider Buying and Selling at Patterson-UTI Energy, Inc.

There has been notable insider selling at Patterson-UTI Energy, including the sale of 120,000 shares by General Counsel Seth David Wexler on September 1, 2026, and 250,000 shares sold by CEO William Andrew Hendricks Jr. on September 2, 2026.

Analysts Set New Price Targets

On July 31, 2026, JP Morgan upgraded Patterson-UTI Energy to a Neutral rating with a target price of $12.00. Susquehanna maintained a Positive rating with a target of $13.00 on August 3, 2026, while Barclays also maintained an Overweight rating with a target of $16.00 on August 5, 2026. The consensus among analysts is generally positive, reflecting a cautious optimism about the company's prospects.

About Patterson-UTI Energy

Patterson-UTI Energy, Inc. provides drilling and completion services to oil and natural gas companies across North America and internationally. The company operates through various segments, including drilling services, completion services, and drilling products, aiming to support energy exploration and production efforts.

Bottom Line

Investors should watch for Patterson-UTI Energy's earnings announcement on October 28, 2026, and any further changes in institutional holdings. This new position by Miller Howard Investments could indicate growing interest in the company's potential within the energy sector.