G.F.W. Energy X L.P. acquired a new position in Patterson-UTI Energy, Inc. (NASDAQ:PTEN) in the fourth quarter, HoldingsChannel reports. The institutional investor acquired 317,621 shares of the oil and gas company’s stock, valued at approximately $7,308,000. Patterson-UTI Energy comprises 1.2% of G.F.W. Energy X L.P.’s holdings, making the stock its 3rd biggest holding.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Sciencast Management LP bought a new position in shares of Patterson-UTI Energy in the fourth quarter worth about $571,000. Meadow Creek Investment Management LLC boosted its stake in shares of Patterson-UTI Energy by 25.9% in the fourth quarter. Meadow Creek Investment Management LLC now owns 26,012 shares of the oil and gas company’s stock worth $599,000 after acquiring an additional 5,348 shares during the period. Tyers Asset Management LLC lifted its position in shares of Patterson-UTI Energy by 25.9% in the fourth quarter. Tyers Asset Management LLC now owns 14,864 shares of the oil and gas company’s stock worth $342,000 after buying an additional 3,056 shares in the last quarter. California State Teachers Retirement System lifted its position in shares of Patterson-UTI Energy by 0.8% in the fourth quarter. California State Teachers Retirement System now owns 359,071 shares of the oil and gas company’s stock worth $8,262,000 after buying an additional 2,977 shares in the last quarter. Finally, QVT Financial LP lifted its position in shares of Patterson-UTI Energy by 80.0% in the fourth quarter. QVT Financial LP now owns 291,100 shares of the oil and gas company’s stock worth $6,698,000 after buying an additional 129,400 shares in the last quarter. 99.66% of the stock is owned by hedge funds and other institutional investors.
Shares of Patterson-UTI Energy, Inc. (NASDAQ PTEN) opened at $19.29 on Wednesday. Patterson-UTI Energy, Inc. has a 52-week low of $14.83 and a 52-week high of $26.41. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.24 and a current ratio of 1.37. The stock has a market capitalization of $4,383.49, a P/E ratio of -137.79 and a beta of 1.21.
Patterson-UTI Energy (NASDAQ:PTEN) last issued its quarterly earnings data on Thursday, February 8th. The oil and gas company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.02). Patterson-UTI Energy had a net margin of 0.25% and a negative return on equity of 4.82%. The company had revenue of $787.33 million for the quarter, compared to analysts’ expectations of $764.84 million. During the same quarter last year, the company earned ($0.53) earnings per share. The company’s revenue for the quarter was up 218.9% on a year-over-year basis. equities research analysts predict that Patterson-UTI Energy, Inc. will post 0.03 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 22nd. Shareholders of record on Thursday, March 8th will be given a dividend of $0.02 per share. The ex-dividend date of this dividend is Wednesday, March 7th. This represents a $0.08 dividend on an annualized basis and a yield of 0.41%. Patterson-UTI Energy’s dividend payout ratio (DPR) is presently -57.14%.
In other Patterson-UTI Energy news, Director Tiffany J. Thom sold 2,574 shares of the company’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $23.08, for a total transaction of $59,407.92. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 4.60% of the company’s stock.
A number of equities research analysts recently commented on the company. BidaskClub downgraded Patterson-UTI Energy from a “hold” rating to a “sell” rating in a research report on Friday, March 2nd. Zacks Investment Research downgraded Patterson-UTI Energy from a “hold” rating to a “sell” rating in a research report on Tuesday, February 20th. Guggenheim set a $25.00 target price on Patterson-UTI Energy and gave the stock a “buy” rating in a research report on Thursday, February 15th. BMO Capital Markets upgraded Patterson-UTI Energy from a “market perform” rating to a “buy” rating in a research report on Wednesday, February 14th. Finally, Seaport Global Securities reiterated a “hold” rating and issued a $24.00 target price on shares of Patterson-UTI Energy in a research report on Monday, February 12th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $26.21.
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Patterson-UTI Energy Profile
Patterson-UTI Energy, Inc is an oilfield services company. The Company owns and operates a fleet of land-based drilling rigs and a fleet of pressure pumping equipment in the United States. The Company’s segments include Contract Drilling, Pressure Pumping and Other operations. The Contract Drilling segment markets its contract drilling services to independent and other oil and natural gas operators.
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