Janeen S. Judah Sells 5,000 Shares of Patterson-UTI Energy, Inc. (NASDAQ:PTEN) Stock

Patterson-UTI Energy, Inc. (NASDAQ:PTEN) Director Janeen S. Judah sold 5,000 shares of Patterson-UTI Energy stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $9.05, for a total value of $45,250.00. Following the completion of the sale, the director now owns 27,023 shares in the company, valued at $244,558.15. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Shares of Patterson-UTI Energy stock traded up $0.01 during trading hours on Friday, reaching $8.97. 2,016,449 shares of the company were exchanged, compared to its average volume of 3,965,977. Patterson-UTI Energy, Inc. has a 1 year low of $7.87 and a 1 year high of $18.39. The stock’s fifty day moving average is $9.44 and its 200 day moving average is $12.07. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.76 and a current ratio of 1.91. The firm has a market cap of $1.71 billion, a PE ratio of -26.38 and a beta of 1.52.

Patterson-UTI Energy (NASDAQ:PTEN) last posted its earnings results on Thursday, July 25th. The oil and gas company reported ($0.17) EPS for the quarter, beating the consensus estimate of ($0.21) by $0.04. The firm had revenue of $675.77 million for the quarter, compared to analyst estimates of $670.28 million. Patterson-UTI Energy had a negative return on equity of 2.71% and a negative net margin of 11.64%. Patterson-UTI Energy’s revenue for the quarter was down 20.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.05) earnings per share. Research analysts expect 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 19th. Investors of record on Thursday, September 5th will be issued a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 1.78%. The ex-dividend date of this dividend is Wednesday, September 4th. Patterson-UTI Energy’s dividend payout ratio (DPR) is presently -47.06%.

PTEN has been the topic of several research analyst reports. Piper Jaffray Companies lowered their price objective on Patterson-UTI Energy from $13.00 to $12.00 and set an “overweight” rating on the stock in a report on Tuesday, July 30th. BidaskClub upgraded Patterson-UTI Energy from a “strong sell” rating to a “sell” rating in a report on Friday, August 30th. AltaCorp Capital restated an “outperform” rating on shares of Patterson-UTI Energy in a report on Thursday, June 20th. Raymond James set a $17.00 target price on Patterson-UTI Energy and gave the stock a “buy” rating in a report on Friday, July 26th. Finally, Seaport Global Securities set a $16.00 target price on Patterson-UTI Energy and gave the stock a “buy” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $14.43.

A number of large investors have recently bought and sold shares of PTEN. Parallel Advisors LLC increased its holdings in Patterson-UTI Energy by 129.0% in the first quarter. Parallel Advisors LLC now owns 2,382 shares of the oil and gas company’s stock valued at $33,000 after buying an additional 1,342 shares during the last quarter. Quantamental Technologies LLC increased its holdings in Patterson-UTI Energy by 173.2% in the second quarter. Quantamental Technologies LLC now owns 6,041 shares of the oil and gas company’s stock valued at $70,000 after buying an additional 3,830 shares during the last quarter. Machina Capital S.A.S. increased its holdings in Patterson-UTI Energy by 1,559.1% in the second quarter. Machina Capital S.A.S. now owns 6,570 shares of the oil and gas company’s stock valued at $76,000 after buying an additional 6,174 shares during the last quarter. KBC Group NV purchased a new position in Patterson-UTI Energy in the second quarter valued at $78,000. Finally, M&T Bank Corp purchased a new position in Patterson-UTI Energy in the second quarter valued at $122,000. 99.60% of the stock is currently owned by hedge funds and other institutional investors.

Patterson-UTI Energy Company Profile

Patterson-UTI Energy, Inc, through its subsidiaries, provides onshore contract drilling services to oil and natural gas operators in the United States and Canada. It operates through three segments: Contract Drilling Services, Pressure Pumping Services, and Directional Drilling Services. The Contract Drilling segment markets its contract drilling services primarily in west Texas and southeastern New Mexico, north central and east Texas, northern Louisiana, Colorado, Wyoming, North Dakota, south Texas, western Oklahoma, Pennsylvania, Ohio, West Virginia, and western Canada.

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