Cook the Pasta: In a large pot, bring salted water to a boil. Add the penne pasta and cook until al dente, about 10 minutes. Drain and set aside.
Cook the Chicken: In a large skillet, heat a bit of oil over medium heat. Add the diced chicken and season with salt, pepper, and ranch seasoning. Cook until browned and fully cooked through, about 7-8 minutes.
Prepare the Sauce: Reduce the heat to low. Add the cream cheese and let it melt into the skillet. Pour in the heavy cream and chicken broth, stirring to combine. Cook for an additional 2-3 minutes until the sauce is smooth.
Add Cheese: Stir in the shredded cheddar cheese and continue cooking until the sauce is thick and creamy. Adjust seasoning if necessary.
Combine Pasta and Sauce: Add the cooked penne pasta to the skillet and stir to coat the pasta evenly in the creamy sauce. Serve hot and enjoy!