Alliancebernstein L.P. boosted its position in Patterson-UTI Energy, Inc. (NASDAQ:PTEN) by 1.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,493,056 shares of the oil and gas company’s stock after purchasing an additional 16,420 shares during the period. Alliancebernstein L.P. owned about 0.67% of Patterson-UTI Energy worth $34,355,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in PTEN. Nationwide Fund Advisors boosted its position in Patterson-UTI Energy by 31.8% in the third quarter. Nationwide Fund Advisors now owns 412,883 shares of the oil and gas company’s stock worth $8,646,000 after purchasing an additional 99,714 shares during the last quarter. Crossmark Global Holdings Inc. purchased a new position in Patterson-UTI Energy in the third quarter worth about $381,000. Canada Pension Plan Investment Board boosted its position in Patterson-UTI Energy by 16.8% in the third quarter. Canada Pension Plan Investment Board now owns 152,000 shares of the oil and gas company’s stock worth $3,183,000 after purchasing an additional 21,900 shares during the last quarter. Stevens Capital Management LP purchased a new position in Patterson-UTI Energy in the third quarter worth about $585,000. Finally, Prudential Financial Inc. boosted its position in Patterson-UTI Energy by 15.1% in the third quarter. Prudential Financial Inc. now owns 128,189 shares of the oil and gas company’s stock worth $2,684,000 after purchasing an additional 16,850 shares during the last quarter. 99.66% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ PTEN traded down $0.26 during trading hours on Friday, reaching $17.56. The company’s stock had a trading volume of 2,574,767 shares, compared to its average volume of 3,117,597. The company has a current ratio of 1.37, a quick ratio of 1.24 and a debt-to-equity ratio of 0.15. Patterson-UTI Energy, Inc. has a 1 year low of $14.83 and a 1 year high of $25.75. The stock has a market cap of $3,903.34, a PE ratio of -21.95 and a beta of 1.21.
Patterson-UTI Energy (NASDAQ:PTEN) last released its quarterly earnings data on Thursday, February 8th. The oil and gas company reported ($0.10) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.08) by ($0.02). Patterson-UTI Energy had a negative return on equity of 4.82% and a net margin of 0.25%. The firm had revenue of $787.33 million during the quarter, compared to the consensus estimate of $764.84 million. During the same period in the previous year, the firm earned ($0.53) EPS. The business’s revenue was up 218.9% compared to the same quarter last year. analysts forecast that Patterson-UTI Energy, Inc. will post 0.03 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 22nd. Shareholders of record on Thursday, March 8th were paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date was Wednesday, March 7th. Patterson-UTI Energy’s payout ratio is -10.00%.
In other Patterson-UTI Energy news, Director Terry H. Hunt sold 10,000 shares of Patterson-UTI Energy stock in a transaction that occurred on Tuesday, March 13th. The stock was sold at an average price of $19.46, for a total value of $194,600.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 4.60% of the company’s stock.
A number of research analysts have recently weighed in on the company. BidaskClub raised Patterson-UTI Energy from a “hold” rating to a “buy” rating in a research report on Saturday, January 13th. Scotiabank raised Patterson-UTI Energy from a “sector perform” rating to a “sector outperform” rating in a research report on Friday, January 12th. Scotia Howard Weill raised Patterson-UTI Energy from a “sector perform” rating to a “sector outperform” rating in a research report on Friday, January 12th. Howard Weil raised Patterson-UTI Energy from a “sector perform” rating to a “sector outperform” rating in a research report on Friday, January 12th. Finally, Cowen set a $30.00 price objective on Patterson-UTI Energy and gave the company a “hold” rating in a research report on Thursday, January 11th. Three analysts have rated the stock with a sell rating, five have given a hold rating and seventeen have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $25.71.
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Patterson-UTI Energy Profile
Patterson-UTI Energy, Inc, through its subsidiaries, provides onshore contract drilling services to oil and natural gas operators in the United States and Canada. It operates through two segments: Contract Drilling and Pressure Pumping. The Contract Drilling segment markets its contract drilling services primarily in Texas, southeastern New Mexico, northern Louisiana, Colorado, Wyoming, North Dakota, western Oklahoma, Pennsylvania, Ohio, West Virginia, and western Canada.
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