Watch for further insider selling post-offering and monitor Q2 earnings for margin impact from higher interest costs. The refinancing extends maturities but increases annual interest; the CEO sale could signal near-term headwinds.
Price Chart
Executive Summary
CEO William Andrew Hendricks Jr. sold $2.96M in stock and a director sold $739K, totaling $3.7M, concurrent with a $500M senior notes offering filed May 7. While the sales are small relative to PTEN's $4.4B market cap (0.08%), the timing raises mild concern about informed selling ahead of the debt capital raise.
Key Financial Metrics
Key Facts
- CEO Hendricks sold 250,000 shares at $11.85 for $2.96M on May 1
- Director Drummond sold 61,475 shares at $12.02 for $739K on May 4
- Company filed 424B5 on May 7 for $500M 6.050% Senior Notes due 2036
- Total insider sales of $3.7M represent ~0.084% of market cap
- Prior 8-K on April 28 amended credit facility, extending maturity
Financial Impact
Insider sales of $3.7M; notes offering $500M (new debt at higher coupon)
Risk Factors
- Additional insider selling as lock-up/blackout periods end
- Higher interest expense from new 6.050% notes vs. 3.95% redeemed notes
- Oil and gas drilling cycle weakness
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CLUSTER Data (Synthetic) | cluster-PTEN-1778198873569 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 3, 2026 29d ago | Insider Cluster | $12.42 $12.42 | · 0.00% | ▼ −1.21% | $11.21 (+9.74%) |
Aug 26, 2026 5w ago | Institutional Cluster | $11.75 $13.15 | ▲ +11.91% | ▲ +12.04% | $11.21 (−4.60%) |
Jun 11, 2026 16w ago | Institutional Cluster | $11.49 $10.30 | ▲ +10.36% | ▲ +10.79% | $11.21 (+2.44%) |
Jun 10, 2026 16w ago | Insider Cluster | $11.49 $10.30 | ▼ −10.36% | ▼ −10.79% | $11.21 (−2.44%) |
Jun 4, 2026 17w ago | 8-K | $11.51 $11.49 | ▼ −0.17% | ▼ −0.74% | $11.21 (−2.61%) |
May 26, 2026 18w ago | 8-K | $12.12 $11.74 | ▼ −3.14% | ▼ −4.35% | $11.21 (−7.49%) |
May 7, 2026 21w ago | 424B5 | $11.41 $12.00 | ▲ +5.19% | ▲ +3.68% | $11.21 (−1.74%) |
May 1, 2026 22w ago | Insider Cluster | $11.97 $11.41 | ▼ −4.67% | ▼ −7.02% | $11.21 (−6.34%) |
May 1, 2026 22w ago | Insider Cluster | $11.97 $11.41 | ▲ +4.67% | ▲ +7.02% | $11.21 (+6.34%) |
Apr 28, 2026 22w ago | 8-K | $11.83 $12.39 | ▲ +4.73% | ▲ +3.03% | $11.21 (−5.23%) |
US Market Status
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