1 week Ago By ABMN Staff
JPMorgan Chase & Co. decreased its holdings in shares of Patterson-UTI Energy, Inc. ( NASDAQ:PTEN – Free Report ) by 1.
8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,633,299 shares of the oil and gas company’s stock after selling 47,799 shares during the period. JPMorgan Chase & Co.
owned approximately 0.68% of Patterson-UTI Energy worth $21,751,000 at the end of the most recent reporting period. Several other institutional investors and hedge funds also recently added to or reduced their stakes in PTEN.
Quantinno Capital Management LP acquired a new position in Patterson-UTI Energy during the third quarter worth $97,000. Stifel Financial Corp boosted its position in shares of Patterson-UTI Energy by 103.2% during the 3rd quarter.
Stifel Financial Corp now owns 84,307 shares of the oil and gas company’s stock worth $645,000 after purchasing an additional 42,824 shares in the last quarter. State Street Corp grew its stake in shares of Patterson-UTI Energy by 9.6% during the 3rd quarter.
State Street Corp now owns 15,435,258 shares of the oil and gas company’s stock worth $118,080,000 after purchasing an additional 1,352,840 shares during the period. Y Intercept Hong Kong Ltd purchased a new position in shares of Patterson-UTI Energy in the 3rd quarter valued at about $453,000. Finally, Geode Capital Management LLC lifted its stake in shares of Patterson-UTI Energy by 5.
6% in the third quarter. Geode Capital Management LLC now owns 8,980,881 shares of the oil and gas company’s stock valued at $68,717,000 after purchasing an additional 478,064 shares during the period. Institutional investors and hedge funds own 97.
91% of the company’s stock. Analyst Ratings Changes A number of brokerages have issued reports on PTEN. Morgan Stanley dropped their target price on shares of Patterson-UTI Energy from $10.
00 to $9.00 and set an “equal weight” rating for the company in a report on Thursday, March 27th. The Goldman Sachs Group reduced their price objective on Patterson-UTI Energy from $11.
00 to $8.00 and set a “neutral” rating for the company in a report on Thursday. Raymond James lowered Patterson-UTI Energy from a “strong-buy” rating to a “market perform” rating in a report on Monday, January 6th.
Finally, Stifel Nicolaus cut their price target on Patterson-UTI Energy from $14.00 to $13.00 and set a “buy” rating for the company in a research note on Monday, January 6th.
One research analyst has rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $11.38.
Insider Buying and Selling In other news, Director James Carl Stewart sold 48,149 shares of Patterson-UTI Energy stock in a transaction dated 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 of the company’s stock, valued at $634,224.50.
The trade was a 36.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link .
Also, CEO William Andrew Hendricks, Jr. purchased 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The stock was acquired at an average price of $7.
88 per share, for a total transaction of $197,000.00. Following the acquisition, the chief executive officer now directly owns 2,482,592 shares of the company’s stock, valued at $19,562,824.
96. This trade represents a 1.02 % increase in their position.
The disclosure for this purchase can be found here . Corporate insiders own 2.30% of the company’s stock.
Patterson-UTI Energy Price Performance Patterson-UTI Energy stock opened at $5.59 on Friday. Patterson-UTI Energy, Inc.
has a 1 year low of $5.12 and a 1 year high of $12.16.
The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.34 and a current ratio of 1.
54. The firm has a 50 day moving average price of $7.90 and a 200 day moving average price of $8.
08. The company has a market cap of $2.16 billion, a price-to-earnings ratio of -2.
26 and a beta of 1.60. Patterson-UTI Energy Dividend Announcement The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th.
Stockholders of record on Monday, March 3rd were issued a dividend of $0.08 per share. The ex-dividend date was Monday, March 3rd.
This represents a $0.32 dividend on an annualized basis and a dividend yield of 5.72%.
Patterson-UTI Energy’s payout ratio is -12.96%. Patterson-UTI Energy Company Profile ( 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. Read More Want to see what other hedge funds are holding PTEN? Visit HoldingsChannel.
com to get the latest 13F filings and insider trades for Patterson-UTI Energy, Inc. ( NASDAQ:PTEN – Free Report ). 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.
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