New Mexico Educational Retirement Board Purchases New Holdings in Patterson-UTI Energy, Inc. (PTEN)

New Mexico Educational Retirement Board purchased a new stake in Patterson-UTI Energy, Inc. (NASDAQ:PTEN) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 52,800 shares of the oil and gas company’s stock, valued at approximately $1,215,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Hood River Capital Management LLC increased its holdings in shares of Patterson-UTI Energy by 100.3% in the 4th quarter. Hood River Capital Management LLC now owns 954,253 shares of the oil and gas company’s stock valued at $21,957,000 after purchasing an additional 477,823 shares in the last quarter. Swiss National Bank increased its holdings in shares of Patterson-UTI Energy by 1.7% in the 4th quarter. Swiss National Bank now owns 363,400 shares of the oil and gas company’s stock valued at $8,362,000 after purchasing an additional 6,200 shares in the last quarter. California Public Employees Retirement System increased its holdings in shares of Patterson-UTI Energy by 3.5% in the 4th quarter. California Public Employees Retirement System now owns 512,906 shares of the oil and gas company’s stock valued at $11,802,000 after purchasing an additional 17,340 shares in the last quarter. Key Square Capital Management LLC purchased a new position in shares of Patterson-UTI Energy in the 4th quarter valued at about $7,899,000. Finally, Emerald Advisers Inc. PA purchased a new position in shares of Patterson-UTI Energy in the 4th quarter valued at about $242,000. Institutional investors and hedge funds own 95.41% of the company’s stock.

Shares of Patterson-UTI Energy, Inc. (NASDAQ PTEN) opened at $17.93 on Thursday. Patterson-UTI Energy, Inc. has a 12 month low of $14.83 and a 12 month high of $28.73. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.16 and a current ratio of 1.23.

Patterson-UTI Energy (NASDAQ:PTEN) last released its quarterly earnings results on Thursday, February 8th. The oil and gas company reported ($0.10) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by ($0.02). Patterson-UTI Energy had a negative return on equity of 5.07% and a net margin of 0.25%. The firm had revenue of $787.33 million for the quarter, compared to analyst estimates of $764.84 million. During the same period in the prior year, the business earned ($0.53) earnings per share. Patterson-UTI Energy’s revenue for the quarter was up 218.9% on a year-over-year basis. analysts forecast that Patterson-UTI Energy, Inc. will post 0.01 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 22nd. Shareholders of record on Thursday, March 8th will be paid a dividend of $0.02 per share. The ex-dividend date of this dividend is Wednesday, March 7th. This represents a $0.08 annualized dividend and a dividend yield of 0.45%. Patterson-UTI Energy’s dividend payout ratio is currently -57.14%.

In other Patterson-UTI Energy news, Director Tiffany J. Thom sold 2,574 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $23.08, for a total transaction of $59,407.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 4.60% of the stock is owned by company insiders.

A number of equities analysts have recently issued reports on the stock. SunTrust Banks increased their price target on shares of Patterson-UTI Energy to $31.00 and gave the company a “buy” rating in a report on Wednesday, December 6th. Jefferies Group set a $25.00 target price on shares of Patterson-UTI Energy and gave the company a “buy” rating in a report on Friday, February 9th. BMO Capital Markets upgraded shares of Patterson-UTI Energy from a “market perform” rating to a “buy” rating in a report on Wednesday, February 14th. Citigroup set a $24.00 target price on shares of Patterson-UTI Energy and gave the company a “buy” rating in a report on Friday, February 9th. Finally, Cowen restated a “market perform” rating and set a $23.00 target price (down from $30.00) on shares of Patterson-UTI Energy in a report on Friday, February 9th. Three analysts have rated the stock with a sell rating, five have given a hold rating and twenty have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $26.21.

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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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Institutional Ownership by Quarter for Patterson-UTI Energy (NASDAQ:PTEN)

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