HAP Trading LLC reduced its stake in shares of Patterson-UTI Energy, Inc. (NASDAQ:PTEN) by 98.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 17,391 shares of the oil and gas company’s stock after selling 1,517,741 shares during the quarter. HAP Trading LLC’s holdings in Patterson-UTI Energy were worth $400,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of PTEN. Alyeska Investment Group L.P. acquired a new position in shares of Patterson-UTI Energy during the 3rd quarter worth about $67,664,000. Fuller & Thaler Asset Management Inc. grew its position in shares of Patterson-UTI Energy by 285.0% during the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 2,722,481 shares of the oil and gas company’s stock worth $57,009,000 after buying an additional 2,015,336 shares during the period. BlackRock Inc. grew its position in shares of Patterson-UTI Energy by 10.4% during the 4th quarter. BlackRock Inc. now owns 20,590,666 shares of the oil and gas company’s stock worth $473,793,000 after buying an additional 1,941,119 shares during the period. Ameriprise Financial Inc. grew its position in shares of Patterson-UTI Energy by 31.5% during the 3rd quarter. Ameriprise Financial Inc. now owns 5,567,435 shares of the oil and gas company’s stock worth $116,581,000 after buying an additional 1,335,098 shares during the period. Finally, Bank of New York Mellon Corp grew its position in shares of Patterson-UTI Energy by 33.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 4,391,581 shares of the oil and gas company’s stock worth $91,959,000 after buying an additional 1,111,289 shares during the period. Institutional investors own 95.41% of the company’s stock.
Several research firms have recently issued reports on PTEN. Scotiabank upgraded Patterson-UTI Energy from a “sector perform” rating to a “sector outperform” rating in a research report on Friday, January 12th. Scotia Howard Weill upgraded Patterson-UTI Energy from a “sector perform” rating to a “sector outperform” rating in a research report on Friday, January 12th. Howard Weil upgraded Patterson-UTI Energy from a “sector perform” rating to a “sector outperform” rating in a research report on Friday, January 12th. Cowen set a $30.00 target price on Patterson-UTI Energy and gave the stock a “hold” rating in a research report on Thursday, January 11th. Finally, BidaskClub upgraded Patterson-UTI Energy from a “hold” rating to a “buy” rating in a research report on Saturday, January 13th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and twenty-one have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $26.21.
Shares of Patterson-UTI Energy, Inc. (PTEN) opened at $18.09 on Tuesday. The company has a market capitalization of $4,024.02, a P/E ratio of -129.21 and a beta of 1.02. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.23 and a quick ratio of 1.16. Patterson-UTI Energy, Inc. has a 12 month low of $14.83 and a 12 month high of $28.73.
Patterson-UTI Energy (NASDAQ:PTEN) last released its earnings results on Thursday, February 8th. The oil and gas company reported ($0.10) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by ($0.02). The firm had revenue of $787.33 million during the quarter, compared to the consensus estimate of $764.84 million. Patterson-UTI Energy had a net margin of 0.25% and a negative return on equity of 5.07%. The company’s revenue was up 218.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.53) EPS. equities research analysts expect that Patterson-UTI Energy, Inc. will post 0.01 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 22nd. Shareholders of record on Thursday, March 8th will be paid a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.44%. The ex-dividend date of this dividend is Wednesday, March 7th. Patterson-UTI Energy’s payout ratio is -57.14%.
In other Patterson-UTI Energy 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 value of $59,407.92. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 4.60% of the company’s stock.
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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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