LS Investment Advisors LLC increased its position in shares of Patterson-UTI Energy, Inc. (NASDAQ:PTEN) by 24.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,497 shares of the oil and gas company’s stock after buying an additional 2,694 shares during the period. LS Investment Advisors LLC’s holdings in Patterson-UTI Energy were worth $273,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. FMR LLC increased its stake in shares of Patterson-UTI Energy by 179.4% in the fourth quarter. FMR LLC now owns 377,812 shares of the oil and gas company’s stock worth $10,171,000 after buying an additional 242,581 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Patterson-UTI Energy by 158.6% in the fourth quarter. Renaissance Technologies LLC now owns 34,238 shares of the oil and gas company’s stock worth $922,000 after buying an additional 21,000 shares during the last quarter. Creative Planning increased its stake in shares of Patterson-UTI Energy by 7,521.7% in the first quarter. Creative Planning now owns 37,575 shares of the oil and gas company’s stock worth $912,000 after buying an additional 37,082 shares during the last quarter. Capstone Asset Management Co. increased its stake in shares of Patterson-UTI Energy by 7.3% in the first quarter. Capstone Asset Management Co. now owns 13,494 shares of the oil and gas company’s stock worth $327,000 after buying an additional 920 shares during the last quarter. Finally, Viking Fund Management LLC increased its stake in shares of Patterson-UTI Energy by 4.8% in the first quarter. Viking Fund Management LLC now owns 440,000 shares of the oil and gas company’s stock worth $10,679,000 after buying an additional 20,000 shares during the last quarter. Institutional investors own 85.05% of the company’s stock.
Patterson-UTI Energy, Inc. (NASDAQ PTEN) traded down 0.68% during trading on Friday, hitting $19.09. The stock had a trading volume of 3,405,309 shares. The firm has a 50 day moving average of $20.03 and a 200-day moving average of $23.44. The stock’s market cap is $3.15 billion. Patterson-UTI Energy, Inc. has a 12 month low of $18.12 and a 12 month high of $29.76.
Patterson-UTI Energy (NASDAQ:PTEN) last posted its quarterly earnings data on Thursday, July 27th. The oil and gas company reported ($0.21) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.30) by $0.09. The business had revenue of $579 million during the quarter, compared to the consensus estimate of $556.47 million. Patterson-UTI Energy had a negative net margin of 23.78% and a negative return on equity of 11.28%. The business’s revenue for the quarter was up 198.5% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.58) earnings per share. Equities analysts predict that Patterson-UTI Energy, Inc. will post ($0.91) earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 21st. Investors of record on Thursday, September 7th will be given a dividend of $0.02 per share. The ex-dividend date of this dividend is Wednesday, September 6th. This represents a $0.08 dividend on an annualized basis and a yield of 0.42%. Patterson-UTI Energy’s dividend payout ratio is presently -4.06%.
A number of analysts recently commented on PTEN shares. Deutsche Bank AG decreased their price target on Patterson-UTI Energy from $31.00 to $28.00 and set a “hold” rating for the company in a research report on Friday, April 28th. Jefferies Group LLC reissued a “buy” rating and issued a $32.00 target price (down from $35.00) on shares of Patterson-UTI Energy in a research report on Wednesday, May 3rd. Evercore ISI reissued an “outperform” rating and issued a $35.00 target price on shares of Patterson-UTI Energy in a research report on Tuesday, June 6th. BMO Capital Markets reissued a “hold” rating and issued a $28.00 target price on shares of Patterson-UTI Energy in a research report on Thursday, April 13th. Finally, Zacks Investment Research upgraded Patterson-UTI Energy from a “hold” rating to a “buy” rating and set a $26.00 price target for the company in a research report on Thursday, April 27th. Three investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and fifteen have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $26.84.
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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