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.
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.
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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.
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