Numeric Investors LLC acquired a new position in shares of Patterson-UTI Energy, Inc. (NASDAQ:PTEN) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 15,900 shares of the company’s stock, valued at approximately $428,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Royal Bank of Canada increased its position in shares of Patterson-UTI Energy by 216.8% in the second quarter. Royal Bank of Canada now owns 251,847 shares of the company’s stock worth $5,369,000 after buying an additional 172,344 shares during the period. Creative Planning boosted its position in shares of Patterson-UTI Energy by 4,739.3% in the third quarter. Creative Planning now owns 20,422 shares of the company’s stock worth $457,000 after buying an additional 20,000 shares in the last quarter. Viking Fund Management LLC boosted its position in shares of Patterson-UTI Energy by 16.1% in the third quarter. Viking Fund Management LLC now owns 360,000 shares of the company’s stock worth $8,053,000 after buying an additional 50,000 shares in the last quarter. Alpha Windward LLC purchased a new position in shares of Patterson-UTI Energy during the third quarter worth approximately $458,000. Finally, Leavell Investment Management Inc. boosted its position in shares of Patterson-UTI Energy by 4.2% in the third quarter. Leavell Investment Management Inc. now owns 25,000 shares of the company’s stock worth $559,000 after buying an additional 1,000 shares in the last quarter. Hedge funds and other institutional investors own 98.84% of the company’s stock.
Patterson-UTI Energy, Inc. (NASDAQ:PTEN) opened at 25.37 on Tuesday. The stock’s 50 day moving average price is $27.29 and its 200 day moving average price is $24.91. The company’s market capitalization is $3.72 billion. Patterson-UTI Energy, Inc. has a 12 month low of $16.06 and a 12 month high of $29.76.
Patterson-UTI Energy (NASDAQ:PTEN) last posted its earnings results on Thursday, February 9th. The company reported ($0.53) EPS for the quarter, topping analysts’ consensus estimates of ($0.54) by $0.01. The company had revenue of $247 million for the quarter, compared to the consensus estimate of $228.83 million. Patterson-UTI Energy had a negative return on equity of 13.25% and a negative net margin of 34.79%. The firm’s revenue for the quarter was down 27.1% on a year-over-year basis. During the same period in the previous year, the business earned ($0.40) earnings per share. Equities research analysts anticipate that Patterson-UTI Energy, Inc. will post ($1.32) earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 22nd. Shareholders of record on Wednesday, March 8th will be given a dividend of $0.02 per share. The ex-dividend date is Monday, March 6th. This represents a $0.08 dividend on an annualized basis and a yield of 0.32%. Patterson-UTI Energy’s dividend payout ratio (DPR) is presently -3.69%.
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PTEN has been the topic of a number of recent research reports. Bank of America Corp raised Patterson-UTI Energy from a “neutral” rating to a “buy” rating in a research report on Wednesday, November 30th. Stephens reaffirmed an “underweight” rating on shares of Patterson-UTI Energy in a research report on Thursday, December 1st. Guggenheim cut Patterson-UTI Energy from a “buy” rating to a “neutral” rating in a research report on Tuesday, December 6th. JPMorgan Chase & Co. raised Patterson-UTI Energy from an “underweight” rating to a “neutral” rating and upped their price target for the company from $14.00 to $24.00 in a research report on Wednesday, December 7th. Finally, Wunderlich set a $27.00 price target on Patterson-UTI Energy and gave the company a “hold” rating in a research report on Wednesday, December 14th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and fifteen have given a buy rating to the company’s stock. Patterson-UTI Energy has a consensus rating of “Hold” and a consensus price target of $26.75.
About Patterson-UTI Energy
Patterson-UTI Energy, Inc owns and operates fleets of land-based drilling rigs and a fleet of pressure pumping equipment in the United States. The Company operates in three segments: Contract Drilling, Pressure Pumping, and Oil and Natural Gas. The Company provides contract drilling services to oil and natural gas operators in the continental United States, and western and northern Canada.
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