Aperio Group LLC grew its holdings in Patterson-UTI Energy, Inc. (NASDAQ:PTEN) by 23.8% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 122,280 shares of the oil and gas company’s stock after buying an additional 23,471 shares during the quarter. Aperio Group LLC owned approximately 0.06% of Patterson-UTI Energy worth $2,561,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in the company. Riverhead Capital Management LLC increased its position in Patterson-UTI Energy by 86.2% in the second quarter. Riverhead Capital Management LLC now owns 10,053 shares of the oil and gas company’s stock worth $203,000 after purchasing an additional 4,653 shares during the period. PNC Financial Services Group Inc. boosted its holdings in Patterson-UTI Energy by 11.7% during the second quarter. PNC Financial Services Group Inc. now owns 10,392 shares of the oil and gas company’s stock worth $210,000 after buying an additional 1,089 shares during the last quarter. Madden Advisory Services Inc. bought a new position in Patterson-UTI Energy during the second quarter worth about $236,000. Gluskin Sheff & Assoc Inc. boosted its holdings in Patterson-UTI Energy by 7.1% during the second quarter. Gluskin Sheff & Assoc Inc. now owns 11,740 shares of the oil and gas company’s stock worth $237,000 after buying an additional 780 shares during the last quarter. Finally, Pacad Investment Ltd. bought a new position in Patterson-UTI Energy during the second quarter worth about $246,000. Institutional investors own 95.05% of the company’s stock.
A number of equities analysts have issued reports on the company. Piper Jaffray Companies set a $24.00 target price on Patterson-UTI Energy and gave the stock a “buy” rating in a report on Tuesday, October 31st. Zacks Investment Research upgraded Patterson-UTI Energy from a “hold” rating to a “buy” rating and set a $22.00 target price on the stock in a report on Tuesday, October 31st. Credit Suisse Group raised their target price on Patterson-UTI Energy from $17.00 to $21.00 and gave the stock a “neutral” rating in a report on Friday, October 27th. Cowen and Company restated a “market perform” rating and set a $20.00 target price (down previously from $24.00) on shares of Patterson-UTI Energy in a report on Friday, October 27th. Finally, Deutsche Bank AG began coverage on Patterson-UTI Energy in a report on Tuesday, October 10th. They set a “buy” rating and a $25.00 price objective on the stock. One research analyst has rated the stock with a sell rating, ten have given a hold rating and eighteen have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $26.71.
Shares of Patterson-UTI Energy, Inc. (NASDAQ PTEN) opened at $20.84 on Monday. 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, Inc. has a 1 year low of $14.83 and a 1 year high of $29.76.
Patterson-UTI Energy (NASDAQ:PTEN) last released its earnings results on Thursday, October 26th. The oil and gas company reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.04. The firm had revenue of $684.99 million during the quarter, compared to the consensus estimate of $688.05 million. Patterson-UTI Energy had a negative return on equity of 7.31% and a negative net margin of 14.73%. The company’s revenue was up 232.3% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.58) EPS. analysts predict that Patterson-UTI Energy, Inc. will post -0.82 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 21st. Investors of record on Thursday, December 7th will be given a dividend of $0.02 per share. The ex-dividend date is Wednesday, December 6th. This represents a $0.08 annualized dividend and a dividend yield of 0.38%. Patterson-UTI Energy’s dividend payout ratio is currently -5.16%.
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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