Patterson-UTI energy director James Stewart sells $1.78 million in stock

Published 11/03/2025, 21:14
Patterson-UTI energy director James Stewart sells $1.78 million in stock

James Carl Stewart, a director at Patterson-UTI Energy Inc. (NASDAQ:PTEN), recently sold a significant portion of his holdings in the company. The sale comes as the stock has declined nearly 10% year-to-date, according to InvestingPro data. According to a recent SEC filing, Stewart sold a total of 240,149 shares of common stock on March 7, 2025, generating approximately $1.78 million. The shares were sold at prices ranging from $7.41 to $7.42 per share, below the current trading price of $7.80.

The sale included 48,149 shares sold directly by Stewart at a weighted average price of $7.42, and an additional 192,000 shares sold indirectly through JCS Partners LP, a limited partnership over which Stewart exercises ownership and control, at a weighted average price of $7.41.

Following these transactions, Stewart retains ownership of 85,475 shares directly and 1,005,254 shares indirectly through JCS Partners LP.

In other recent news, Patterson-UTI Energy reported a net loss for the fourth quarter of 2024, falling short of analyst expectations. The company announced an earnings per share (EPS) of -$0.13, which was below the forecasted -$0.08. Revenue also did not meet expectations, coming in at $1.162 billion compared to the anticipated $1.24 billion. Despite these financial results, Patterson-UTI Energy has been focusing on expanding its natural gas-powered completion equipment offerings. Additionally, the company reduced its capital expenditure for 2024 and anticipates further reductions in 2025. Analysts have noted that the company is expected to generate significant free cash flow in 2025, with plans to return at least 50% of it to shareholders. The company has also been integrating new technologies and services, such as its Emerald line of 100% natural gas-powered frac equipment. These recent developments indicate Patterson-UTI Energy’s strategic focus on enhancing its operational capabilities and shareholder returns.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2025 - Fusion Media Limited. All Rights Reserved.