Sourcerock Group Adds to Patterson-UTI Energy Stake, According to Recent SEC Filing
Key Points
Sourcerock Group LLC added 713,127 shares of Patterson-UTI Energy (PTEN); estimated transaction value $6.10 million based on quarterly average price
Quarter-end position value increased by $81.34 million, reflecting both share additions and price movement
Transaction represents a 0.25% change in 13F reportable AUM
Post-trade holding is 16,309,517 shares worth $176.63 million
Patterson-UTI Energy accounts for 7.12% of fund AUM, placing it outside the fund’s top five holdings
- 10 stocks we like better than Patterson-UTI Energy ›
What happened
According to a Securities and Exchange Commission (SEC) filing dated May 15, 2026, Sourcerock Group LLC increased its position in Patterson-UTI Energy (NASDAQ:PTEN) by 713,127 shares. The fund’s quarter-end valuation for this stake shifted by $81.34 million, reflecting both trading activity and price changes.
What else to know
This Patterson-UTI Energy buy now represents 7.12% of the fund’s 13F reportable assets.
Top holdings after the filing:
- NYSE: AR: $352.50 million (14.8% of AUM)
- NYSE: CRC: $314.67 million (13.2% of AUM)
- NASDAQ: CHRD: $183.64 million (7.7% of AUM)
- NYSE: NE: $180.64 million (7.6% of AUM)
- NASDAQ: CENX: $157.71 million (6.6% of AUM)
As of May 14, 2026, Patterson-UTI Energy shares were priced at $12.12.
Company/ETF overview
| Metric | Value |
|---|---|
| Revenue (TTM) | $4.66 billion |
| Net income (TTM) | $-119.27 million |
| Dividend yield | 3.30% |
| Price (as of market close May 14, 2026) | $12.12 |
Company/ETF snapshot
Patterson-UTI Energy delivers drilling and well completion services to oil and gas operators in North America and select global regions. Patterson-UTI Energy, Inc. is a leading provider of contract drilling and well completion services to the energy sector, with a diverse portfolio spanning drilling, pressure pumping, and directional drilling.
The company provides onshore contract drilling, pressure pumping, and directional drilling services for oil and natural gas operators, with additional offerings in well stimulation, hydraulic fracturing, and drilling technology solutions. It operates a service-based business model, generating revenue primarily from drilling contracts and well completion services across major U.S. oil and gas basins and select international markets.
Patterson-UTI Energy leverages a large fleet and advanced drilling technologies to deliver efficient, high-quality services to oil and gas operators across North America and select international locations. Its integrated service offerings and scale position it as a key partner for operators seeking reliable and technologically advanced drilling solutions.
What this transaction means for investors
Patterson-UTI Energy provides the rigs, pressure-pumping crews, and wellsite services that oil and gas producers use to drill and complete wells. That makes the company different from an energy producer: commodity prices matter because they shape customer budgets, but Patterson-UTI earns its money from operator activity. The key is whether drilling and completion demand can keep crews busy, support pricing, and justify investment in newer equipment.T
he first quarter showed that having busy equipment does not always lead to strong earnings. Patterson-UTI brought in $1.1 billion in revenue and $205 million in adjusted EBITDA, but still reported a $25 million net loss for common shareholders. Completion Services was still the largest segment, with about $680 million in revenue, but turning that into profit is still a challenge. Management said that completion equipment stayed busy except during winter storms, but the company needs better pricing and cost control for this activity to have a bigger impact on earnings.
For investors, the next thing Patterson-UTI needs to show is better financial results from drilling and completion work. Rig activity, demand for pressure-pumping, and using natural gas-powered equipment are all important. However, the stock will be more attractive if the company can get better prices for its work, keep its modern fleets busier, and generate free cash flow that proves it can earn stronger returns over time.
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Eric Trie has no position in any of the stocks mentioned. The Motley Fool recommends Noble Plc. The Motley Fool has a disclosure policy.
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