Texas Permanent School Fund Decreases Holdings in Patterson-UTI Energy, Inc. (PTEN)

Texas Permanent School Fund reduced its stake in Patterson-UTI Energy, Inc. (NASDAQ:PTEN) by 3.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 150,365 shares of the oil and gas company’s stock after selling 5,390 shares during the period. Texas Permanent School Fund’s holdings in Patterson-UTI Energy were worth $3,460,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of PTEN. PNC Financial Services Group Inc. boosted its stake in Patterson-UTI Energy by 11.7% in the second quarter. PNC Financial Services Group Inc. now owns 10,392 shares of the oil and gas company’s stock valued at $210,000 after acquiring an additional 1,089 shares during the period. Northern Trust Corp boosted its stake in Patterson-UTI Energy by 4.7% in the second quarter. Northern Trust Corp now owns 1,576,320 shares of the oil and gas company’s stock valued at $31,826,000 after acquiring an additional 71,331 shares during the period. Vanguard Group Inc. boosted its stake in Patterson-UTI Energy by 22.8% in the second quarter. Vanguard Group Inc. now owns 16,761,217 shares of the oil and gas company’s stock valued at $338,409,000 after acquiring an additional 3,115,388 shares during the period. Parametric Portfolio Associates LLC boosted its stake in Patterson-UTI Energy by 1.3% in the second quarter. Parametric Portfolio Associates LLC now owns 390,835 shares of the oil and gas company’s stock valued at $7,891,000 after acquiring an additional 4,926 shares during the period. Finally, Renaissance Technologies LLC boosted its stake in Patterson-UTI Energy by 41.8% in the second quarter. Renaissance Technologies LLC now owns 1,395,238 shares of the oil and gas company’s stock valued at $28,170,000 after acquiring an additional 411,040 shares during the period. Institutional investors own 97.86% of the company’s stock.

In related news, Director Tiffany J. Thom sold 2,574 shares of the business’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 legal filing with the SEC, which is available at this hyperlink. 4.60% of the stock is owned by insiders.

PTEN has been the subject of several analyst reports. Cowen reiterated a “market perform” rating and set a $20.00 price objective (down from $24.00) on shares of Patterson-UTI Energy in a research report on Friday, October 27th. Zacks Investment Research upgraded Patterson-UTI Energy from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a research report on Wednesday, October 11th. Credit Suisse Group boosted their price objective on Patterson-UTI Energy from $17.00 to $21.00 and gave the stock a “neutral” rating in a research report on Friday, October 27th. SunTrust Banks boosted their price objective on Patterson-UTI Energy to $31.00 and gave the stock a “buy” rating in a research report on Wednesday, December 6th. Finally, Jefferies Group set a $26.00 price objective on Patterson-UTI Energy and gave the stock a “buy” rating in a research report on Thursday, October 5th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty have given a buy rating to the company’s stock. Patterson-UTI Energy currently has an average rating of “Buy” and an average target price of $27.16.

Shares of Patterson-UTI Energy, Inc. (NASDAQ PTEN) opened at $24.56 on Friday. Patterson-UTI Energy, Inc. has a twelve month low of $14.83 and a twelve month high of $29.76. The company has a market capitalization of $5,347.56, a P/E ratio of -15.85 and a beta of 1.09. The company has a current ratio of 1.23, a quick ratio of 1.16 and a debt-to-equity ratio of 0.17.

TRADEMARK VIOLATION NOTICE: This article was first posted by Community Financial News and is the property of of Community Financial News. If you are reading this article on another publication, it was copied illegally and reposted in violation of US and international copyright laws. The original version of this article can be read at https://www.com-unik.info/2018/02/02/texas-permanent-school-fund-decreases-holdings-in-patterson-uti-energy-inc-pten.html.

Patterson-UTI Energy Company 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.

Want to see what other hedge funds are holding PTEN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Patterson-UTI Energy, Inc. (NASDAQ:PTEN).

Institutional Ownership by Quarter for Patterson-UTI Energy (NASDAQ:PTEN)

Receive News & Ratings for Patterson-UTI Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Patterson-UTI Energy and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit