Cook the penne pasta according to package instructions until al dente.
In a large skillet, heat olive oil over medium heat and add the chicken breasts.
Season the chicken with salt and pepper, and cook until browned and cooked through, about 6-8 minutes per side.
Remove the chicken from the skillet and let it rest for a few minutes before shredding.
In the same skillet, add the chicken broth and ranch seasoning, stirring to combine.
Reduce heat to low and whisk in the cream cheese until fully incorporated.
Add the shredded chicken back to the skillet and stir until well coated with the sauce.
Toss the cooked penne pasta into the skillet, mixing everything together.
Stir in the shredded cheddar cheese and diced green onions, and mix until the cheese is melted.