Patterson-UTI Energy, Inc. (PTEN) Position Lowered by Keeley Teton Advisors LLC

Keeley Teton Advisors LLC lowered its stake in Patterson-UTI Energy, Inc. (NASDAQ:PTEN) by 22.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 323,289 shares of the oil and gas company’s stock after selling 92,848 shares during the period. Keeley Teton Advisors LLC owned approximately 0.15% of Patterson-UTI Energy worth $6,770,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Royce & Associates LP boosted its stake in Patterson-UTI Energy by 13.4% in the third quarter. Royce & Associates LP now owns 519,000 shares of the oil and gas company’s stock valued at $10,868,000 after buying an additional 61,500 shares in the last quarter. Cramer Rosenthal Mcglynn LLC boosted its stake in Patterson-UTI Energy by 16.8% in the third quarter. Cramer Rosenthal Mcglynn LLC now owns 732,480 shares of the oil and gas company’s stock valued at $15,338,000 after buying an additional 105,170 shares in the last quarter. Precocity Capital LP boosted its stake in Patterson-UTI Energy by 144.0% in the third quarter. Precocity Capital LP now owns 610,000 shares of the oil and gas company’s stock valued at $12,773,000 after buying an additional 360,000 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its stake in Patterson-UTI Energy by 26.7% in the third quarter. Schwab Charles Investment Management Inc. now owns 771,726 shares of the oil and gas company’s stock valued at $16,160,000 after buying an additional 162,677 shares in the last quarter. Finally, Commonwealth Bank of Australia boosted its stake in Patterson-UTI Energy by 9.7% in the third quarter. Commonwealth Bank of Australia now owns 901,658 shares of the oil and gas company’s stock valued at $18,878,000 after buying an additional 79,866 shares in the last quarter. Institutional investors own 97.91% of the company’s stock.

Patterson-UTI Energy, Inc. (NASDAQ PTEN) opened at $21.00 on Thursday. Patterson-UTI Energy, Inc. has a 1 year low of $14.83 and a 1 year high of $29.76. The company has a current ratio of 1.23, a quick ratio of 1.16 and a debt-to-equity ratio of 0.17.

Patterson-UTI Energy (NASDAQ:PTEN) last issued its quarterly earnings data on Thursday, October 26th. The oil and gas company reported ($0.13) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.17) by $0.04. Patterson-UTI Energy had a negative return on equity of 7.31% and a negative net margin of 14.73%. The company had revenue of $684.99 million during the quarter, compared to the consensus estimate of $688.05 million. During the same period last year, the company earned ($0.58) earnings per share. The firm’s revenue was up 232.3% compared to the same quarter last year. equities research analysts anticipate that Patterson-UTI Energy, Inc. will post -0.81 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 21st. Stockholders of record on Thursday, December 7th will be given a dividend of $0.02 per share. The ex-dividend date of this dividend is Wednesday, December 6th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.38%. Patterson-UTI Energy’s dividend payout ratio (DPR) is -5.16%.

PTEN has been the topic of several research analyst reports. Credit Suisse Group reduced their price objective on Patterson-UTI Energy from $22.00 to $20.00 and set a “neutral” rating on the stock in a research note on Friday, September 22nd. Zacks Investment Research raised Patterson-UTI Energy from a “hold” rating to a “buy” rating and set a $23.00 price target on the stock in a research note on Wednesday, October 11th. Deutsche Bank started coverage on Patterson-UTI Energy in a research note on Tuesday, October 10th. They set a “buy” rating and a $25.00 price target on the stock. Societe Generale started coverage on Patterson-UTI Energy in a research note on Thursday, August 31st. They set a “buy” rating and a $22.00 price target on the stock. Finally, J P Morgan Chase & Co raised Patterson-UTI Energy from a “neutral” rating to an “overweight” rating and set a $24.00 price target on the stock in a research note on Tuesday, September 5th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and seventeen have assigned a buy rating to the company’s stock. Patterson-UTI Energy presently has a consensus rating of “Buy” and an average price target of $27.00.

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

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