6 days Ago By ABMN Staff
Orion Portfolio Solutions LLC bought a new stake in shares of Patterson-UTI Energy, Inc. ( NASDAQ:PTEN – Free Report ) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 10,562 shares of the oil and gas company’s stock, valued at approximately $87,000.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Atria Investments Inc raised its holdings in Patterson-UTI Energy by 3.7% in the 4th quarter.
Atria Investments Inc now owns 34,831 shares of the oil and gas company’s stock worth $288,000 after purchasing an additional 1,252 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its position in shares of Patterson-UTI Energy by 31.4% during the fourth quarter.
MassMutual Private Wealth & Trust FSB now owns 5,678 shares of the oil and gas company’s stock valued at $47,000 after buying an additional 1,358 shares during the period. Avantax Advisory Services Inc. lifted its holdings in Patterson-UTI Energy by 10.
1% in the fourth quarter. Avantax Advisory Services Inc. now owns 15,698 shares of the oil and gas company’s stock worth $130,000 after buying an additional 1,436 shares during the period.
Smartleaf Asset Management LLC boosted its position in Patterson-UTI Energy by 43.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 5,660 shares of the oil and gas company’s stock valued at $46,000 after acquiring an additional 1,717 shares in the last quarter.
Finally, Greenleaf Trust grew its holdings in shares of Patterson-UTI Energy by 12.3% during the 4th quarter. Greenleaf Trust now owns 19,576 shares of the oil and gas company’s stock worth $162,000 after acquiring an additional 2,141 shares during the period.
Hedge funds and other institutional investors own 97.91% of the company’s stock. Wall Street Analyst Weigh In Several research firms recently weighed in on PTEN.
Stifel Nicolaus dropped their price target on Patterson-UTI Energy from $14.00 to $13.00 and set a “buy” rating on the stock in a research report on Monday, January 6th.
The Goldman Sachs Group dropped their target price on shares of Patterson-UTI Energy from $11.00 to $8.00 and set a “neutral” rating on the stock in a report on Thursday.
Morgan Stanley reduced their target price on shares of Patterson-UTI Energy from $10.00 to $9.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 27th.
Finally, Raymond James cut shares of Patterson-UTI Energy from a “strong-buy” rating to a “market perform” rating in a research report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.
com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $11.38. Patterson-UTI Energy Stock Performance PTEN stock opened at $5.
76 on Friday. The stock has a market capitalization of $2.23 billion, a PE ratio of -2.
33 and a beta of 1.60. The stock’s 50 day simple moving average is $7.
85 and its 200 day simple moving average is $8.06. Patterson-UTI Energy, Inc.
has a 12-month low of $5.12 and a 12-month high of $12.15.
The company has a current ratio of 1.54, a quick ratio of 1.34 and a debt-to-equity ratio of 0.
35. Patterson-UTI Energy Announces Dividend The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a dividend of $0.
08 per share. The ex-dividend date was Monday, March 3rd. This represents a $0.
32 annualized dividend and a dividend yield of 5.56%. Patterson-UTI Energy’s dividend payout ratio (DPR) is presently -12.
96%. Insider Buying and Selling In other news, Director James Carl Stewart sold 48,149 shares of the firm’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $7.
42, for a total value of $357,265.58. Following the transaction, the director now directly owns 85,475 shares in the company, valued at $634,224.
50. This trade represents a 36.03 % decrease in their position.
The transaction was disclosed in a filing with the SEC, which is available at this link . Also, Director Robert Wayne Drummond, Jr. sold 230,000 shares of the company’s stock in a transaction on Friday, February 14th.
The shares were sold at an average price of $8.89, for a total value of $2,044,700.00.
Following the sale, the director now owns 1,549,081 shares of the company’s stock, valued at approximately $13,771,330.09. This trade represents a 12.
93 % decrease in their position. The disclosure for this sale can be found here . 2.
30% of the stock is owned by corporate insiders. About Patterson-UTI Energy ( Free Report ) Patterson-UTI Energy, Inc, through its subsidiaries, engages in the provision of contract drilling services to oil and natural gas operators in the United States and internationally. It operates through three segments: Drilling Services, Completion Services, and Drilling Products.
The Contract Drilling Services segment provides contract and directional drilling services in onshore oil and natural gas basins, as well as engages in the service and re-certification of equipment for drilling contractors, and provision of electrical controls and automation to the energy, marine and mining industries. See Also Receive News & Ratings for Patterson-UTI Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Patterson-UTI Energy and related companies with MarketBeat.com's FREE daily email newsletter .
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