Patterson-UTI Energy, Inc. (NASDAQ:PTEN) Shares Purchased by Ashburton Jersey Ltd

Ashburton Jersey Ltd raised its stake in Patterson-UTI Energy, Inc. (NASDAQ:PTEN) by 26.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 200,570 shares of the oil and gas company’s stock after purchasing an additional 41,876 shares during the period. Patterson-UTI Energy accounts for approximately 1.0% of Ashburton Jersey Ltd’s holdings, making the stock its 21st biggest holding. Ashburton Jersey Ltd’s holdings in Patterson-UTI Energy were worth $2,166,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the company. CWM LLC raised its stake in Patterson-UTI Energy by 40.9% during the 3rd quarter. CWM LLC now owns 2,725 shares of the oil and gas company’s stock valued at $38,000 after acquiring an additional 791 shares in the last quarter. SG Americas Securities LLC acquired a new position in Patterson-UTI Energy in the 3rd quarter worth approximately $128,000. Simplicity Solutions LLC increased its stake in Patterson-UTI Energy by 38.2% in the 3rd quarter. Simplicity Solutions LLC now owns 16,508 shares of the oil and gas company’s stock valued at $228,000 after buying an additional 4,562 shares during the period. Xponance Inc. grew its stake in shares of Patterson-UTI Energy by 74.8% in the 3rd quarter. Xponance Inc. now owns 21,405 shares of the oil and gas company’s stock valued at $296,000 after buying an additional 9,160 shares in the last quarter. Finally, Maryland State Retirement & Pension System increased its stake in shares of Patterson-UTI Energy by 45.5% during the 3rd quarter. Maryland State Retirement & Pension System now owns 118,060 shares of the oil and gas company’s stock worth $1,634,000 after purchasing an additional 36,927 shares during the last quarter. Institutional investors own 97.91% of the company’s stock.

Patterson-UTI Energy Trading Up 0.3 %

Shares of PTEN stock traded up $0.03 on Thursday, hitting $10.53. 7,370,284 shares of the company’s stock traded hands, compared to its average volume of 6,531,870. The stock has a market capitalization of $4.25 billion, a price-to-earnings ratio of 10.40, a P/E/G ratio of 1.53 and a beta of 2.23. The company’s fifty day simple moving average is $11.67 and its 200 day simple moving average is $11.53. Patterson-UTI Energy, Inc. has a one year low of $9.70 and a one year high of $16.17. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.24 and a current ratio of 1.41.

Patterson-UTI Energy (NASDAQ:PTEN) last posted its quarterly earnings results on Wednesday, May 1st. The oil and gas company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.02. The company had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.51 billion. Patterson-UTI Energy had a net margin of 5.94% and a return on equity of 10.00%. During the same period in the prior year, the business posted $0.46 EPS. Equities analysts forecast that Patterson-UTI Energy, Inc. will post 0.62 EPS for the current year.

Patterson-UTI Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 3.04%. The ex-dividend date of this dividend was Thursday, February 29th. Patterson-UTI Energy’s dividend payout ratio (DPR) is currently 31.68%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on PTEN shares. StockNews.com downgraded Patterson-UTI Energy from a “hold” rating to a “sell” rating in a research report on Tuesday, April 2nd. Evercore ISI decreased their price target on Patterson-UTI Energy from $19.00 to $18.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 20th. Royal Bank of Canada dropped their price objective on shares of Patterson-UTI Energy from $17.00 to $16.00 and set an “outperform” rating for the company in a report on Friday, February 16th. Benchmark downgraded shares of Patterson-UTI Energy from a “buy” rating to a “hold” rating in a research report on Tuesday, January 16th. Finally, Bank of America dropped their target price on Patterson-UTI Energy from $14.50 to $14.00 and set a “buy” rating for the company in a research report on Monday, April 15th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $16.17.

Insider Activity at Patterson-UTI Energy

In related news, Director Robert Wayne Drummond, Jr. sold 187,916 shares of Patterson-UTI Energy stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $11.73, for a total value of $2,204,254.68. Following the sale, the director now owns 2,473,239 shares in the company, valued at $29,011,093.47. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.30% of the stock is owned by corporate insiders.

Patterson-UTI Energy Profile

Patterson-UTI Energy, Inc, through its subsidiaries, engages in the provision of contract drilling services to oil and natural gas operators in the United States and internationally. It operates through three segments: Drilling Services, Completion Services, and Drilling Products. The Contract Drilling Services segment provides contract and directional drilling services in onshore oil and natural gas basins, as well as engages in the service and re-certification of equipment for drilling contractors, and provision of electrical controls and automation to the energy, marine and mining industries.