Parkwood LLC lifted its holdings in shares of Patterson-UTI Energy, Inc. (NASDAQ:PTEN) by 201.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 97,924 shares of the oil and gas company’s stock after buying an additional 65,401 shares during the period. Parkwood LLC’s holdings in Patterson-UTI Energy were worth $2,051,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Riverhead Capital Management LLC boosted its position in shares of Patterson-UTI Energy by 86.2% during the second quarter. Riverhead Capital Management LLC now owns 10,053 shares of the oil and gas company’s stock worth $203,000 after buying an additional 4,653 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of Patterson-UTI Energy by 11.7% during the second quarter. PNC Financial Services Group Inc. now owns 10,392 shares of the oil and gas company’s stock worth $210,000 after buying an additional 1,089 shares during the period. Madden Advisory Services Inc. acquired a new position in shares of Patterson-UTI Energy during the second quarter worth approximately $236,000. Gluskin Sheff & Assoc Inc. boosted its position in shares of Patterson-UTI Energy by 7.1% during the second quarter. Gluskin Sheff & Assoc Inc. now owns 11,740 shares of the oil and gas company’s stock worth $237,000 after buying an additional 780 shares during the period. Finally, Pacad Investment Ltd. acquired a new position in shares of Patterson-UTI Energy during the second quarter worth approximately $246,000. Institutional investors and hedge funds own 95.00% of the company’s stock.
PTEN has been the topic of several recent analyst reports. Cowen and Company reissued a “hold” rating and set a $24.00 target price on shares of Patterson-UTI Energy in a report on Tuesday, July 11th. Piper Jaffray Companies reissued a “neutral” rating and set a $20.50 target price (down previously from $22.00) on shares of Patterson-UTI Energy in a report on Wednesday, July 12th. BMO Capital Markets reissued a “hold” rating and set a $23.00 target price on shares of Patterson-UTI Energy in a report on Thursday, July 13th. Royal Bank Of Canada reissued a “buy” rating and set a $29.00 target price on shares of Patterson-UTI Energy in a report on Thursday, July 20th. Finally, Seaport Global Securities reissued a “neutral” rating on shares of Patterson-UTI Energy in a report on Thursday, July 20th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and eighteen have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $26.71.
Shares of Patterson-UTI Energy, Inc. (NASDAQ PTEN) traded up $0.52 during trading on Monday, reaching $20.79. 1,684,215 shares of the company’s stock traded hands, compared to its average volume of 4,222,317. The company has a current ratio of 1.23, a quick ratio of 1.16 and a debt-to-equity ratio of 0.17. Patterson-UTI Energy, Inc. has a 1 year low of $14.83 and a 1 year high of $29.76.
Patterson-UTI Energy (NASDAQ:PTEN) last released its quarterly earnings results on Thursday, October 26th. The oil and gas company reported ($0.13) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.17) by $0.04. Patterson-UTI Energy had a negative net margin of 14.73% and a negative return on equity of 7.31%. The business had revenue of $684.99 million for the quarter, compared to analysts’ expectations of $688.05 million. During the same period in the prior year, the firm earned ($0.58) earnings per share. Patterson-UTI Energy’s revenue was up 232.3% compared to the same quarter last year. equities analysts anticipate that Patterson-UTI Energy, Inc. will post -0.83 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 21st. Stockholders of record on Thursday, December 7th will be paid a dividend of $0.02 per share. The ex-dividend date of this dividend is Wednesday, December 6th. This represents a $0.08 annualized dividend and a dividend yield of 0.38%. Patterson-UTI Energy’s dividend payout ratio (DPR) is currently -5.16%.
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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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