Vaughan Nelson Investment Management L.P. maintained its position in shares of Patterson-UTI Energy, Inc. (NASDAQ:PTEN) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 17,250 shares of the oil and gas company’s stock at the end of the second quarter. Vaughan Nelson Investment Management L.P.’s holdings in Patterson-UTI Energy were worth $348,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Tudor Investment Corp Et Al purchased a new position in Patterson-UTI Energy during the fourth quarter worth about $242,000. PNC Financial Services Group Inc. raised its position in Patterson-UTI Energy by 7.9% in the first quarter. PNC Financial Services Group Inc. now owns 9,303 shares of the oil and gas company’s stock worth $225,000 after buying an additional 683 shares during the last quarter. LS Investment Advisors LLC raised its position in Patterson-UTI Energy by 7.5% in the first quarter. LS Investment Advisors LLC now owns 10,803 shares of the oil and gas company’s stock worth $262,000 after buying an additional 754 shares during the last quarter. First Mercantile Trust Co. purchased a new position in Patterson-UTI Energy during the first quarter worth about $263,000. Finally, Gluskin Sheff & Assoc Inc. purchased a new position in Patterson-UTI Energy during the first quarter worth about $324,000. 84.97% of the stock is currently owned by institutional investors.
Shares of Patterson-UTI Energy, Inc. (NASDAQ PTEN) opened at 20.78 on Friday. The stock’s 50 day moving average price is $20.34 and its 200 day moving average price is $23.98. The firm’s market capitalization is $3.43 billion. Patterson-UTI Energy, Inc. has a one year low of $17.61 and a one year high of $29.76.
Patterson-UTI Energy (NASDAQ:PTEN) last issued its quarterly earnings results on Thursday, April 27th. The oil and gas company reported ($0.42) EPS for the quarter, beating the consensus estimate of ($0.44) by $0.02. Patterson-UTI Energy had a negative return on equity of 13.10% and a negative net margin of 32.74%. The firm had revenue of $305.20 million during the quarter, compared to analysts’ expectations of $294.82 million. During the same period in the prior year, the firm posted ($0.48) earnings per share. The business’s quarterly revenue was up 13.5% compared to the same quarter last year. Analysts expect that Patterson-UTI Energy, Inc. will post ($1.04) EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, June 22nd. Investors of record on Thursday, June 8th were given a dividend of $0.02 per share. The ex-dividend date of this dividend was Tuesday, June 6th. This represents a $0.08 annualized dividend and a yield of 0.38%. Patterson-UTI Energy’s dividend payout ratio (DPR) is presently -3.83%.
A number of research analysts recently issued reports on the company. Royal Bank Of Canada reaffirmed a “buy” rating and set a $29.00 target price on shares of Patterson-UTI Energy in a report on Thursday. BMO Capital Markets reaffirmed a “hold” rating and set a $23.00 target price on shares of Patterson-UTI Energy in a report on Thursday, July 13th. Piper Jaffray Companies reaffirmed a “neutral” rating and set a $20.50 target price (down from $22.00) on shares of Patterson-UTI Energy in a report on Wednesday, July 12th. Cowen and Company reaffirmed a “hold” rating and set a $24.00 target price on shares of Patterson-UTI Energy in a report on Tuesday, July 11th. Finally, Seaport Global Securities lowered Patterson-UTI Energy from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $29.00 to $21.00 in a report on Wednesday, June 21st. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and sixteen have issued a buy rating to the company. Patterson-UTI Energy presently has a consensus rating of “Hold” and a consensus target price of $27.54.
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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