Tudor Investment Corp ET AL Buys 5,408 Shares of Patterson-UTI Energy, Inc. (PTEN)

Tudor Investment Corp ET AL raised its position in Patterson-UTI Energy, Inc. (NASDAQ:PTEN) by 60.3% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 14,382 shares of the oil and gas company’s stock after buying an additional 5,408 shares during the period. Tudor Investment Corp ET AL’s holdings in Patterson-UTI Energy were worth $349,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Metropolitan Life Insurance Co. NY boosted its position in shares of Patterson-UTI Energy by 12.0% in the first quarter. Metropolitan Life Insurance Co. NY now owns 154,921 shares of the oil and gas company’s stock worth $3,760,000 after buying an additional 16,640 shares during the last quarter. BP Capital Fund Advisors LLC boosted its position in shares of Patterson-UTI Energy by 29.5% in the first quarter. BP Capital Fund Advisors LLC now owns 230,225 shares of the oil and gas company’s stock valued at $5,588,000 after buying an additional 52,445 shares in the last quarter. Paloma Partners Management Co boosted its position in shares of Patterson-UTI Energy by 1,175.1% in the first quarter. Paloma Partners Management Co now owns 871,462 shares of the oil and gas company’s stock valued at $21,151,000 after buying an additional 803,119 shares in the last quarter. BlueCrest Capital Management Ltd boosted its position in shares of Patterson-UTI Energy by 83.6% in the first quarter. BlueCrest Capital Management Ltd now owns 332,478 shares of the oil and gas company’s stock valued at $8,069,000 after buying an additional 151,384 shares in the last quarter. Finally, York Capital Management Global Advisors LLC bought a new position in shares of Patterson-UTI Energy during the first quarter valued at about $4,378,000. Institutional investors own 85.04% of the company’s stock.

Patterson-UTI Energy, Inc. (NASDAQ PTEN) traded up 0.41% during midday trading on Friday, hitting $19.51. 4,070,321 shares of the stock traded hands. The stock has a 50-day moving average of $20.11 and a 200 day moving average of $23.63. Patterson-UTI Energy, Inc. has a 52-week low of $18.12 and a 52-week high of $29.76. The firm’s market cap is $3.22 billion.

Patterson-UTI Energy (NASDAQ:PTEN) last released its earnings results on Thursday, July 27th. The oil and gas company reported ($0.21) EPS for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.09. Patterson-UTI Energy had a negative return on equity of 11.28% and a negative net margin of 23.78%. The company had revenue of $579 million during the quarter, compared to the consensus estimate of $556.47 million. During the same quarter last year, the company earned ($0.58) earnings per share. Patterson-UTI Energy’s quarterly revenue was up 198.5% compared to the same quarter last year. Equities analysts forecast that Patterson-UTI Energy, Inc. will post ($1.04) EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 21st. Stockholders of record on Thursday, September 7th will be given a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date of this dividend is Wednesday, September 6th. Patterson-UTI Energy’s dividend payout ratio is currently -4.06%.

Several brokerages recently issued reports on PTEN. BidaskClub cut shares of Patterson-UTI Energy from a “hold” rating to a “sell” rating in a research report on Thursday. Jefferies Group LLC set a $26.00 price objective on shares of Patterson-UTI Energy and gave the stock a “buy” rating in a research note on Saturday. Royal Bank Of Canada set a $35.00 price objective on shares of Patterson-UTI Energy and gave the stock a “buy” rating in a research note on Saturday, June 24th. Seaport Global Securities reissued a “neutral” rating on shares of Patterson-UTI Energy in a research note on Thursday, July 20th. Finally, Zacks Investment Research downgraded shares of Patterson-UTI Energy from a “hold” rating to a “sell” rating in a research note on Thursday. Three equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and fifteen have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $27.36.

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.