1 week Ago By ABMN Staff
Pictet Asset Management Holding SA boosted its holdings in shares of Patterson-UTI Energy, Inc. ( NASDAQ:PTEN – Free Report ) by 19.9% during the 4th quarter, HoldingsChannel reports.
The firm owned 67,890 shares of the oil and gas company’s stock after purchasing an additional 11,284 shares during the period. Pictet Asset Management Holding SA’s holdings in Patterson-UTI Energy were worth $561,000 as of its most recent filing with the SEC. A number of other institutional investors also recently bought and sold shares of the business.
Pacer Advisors Inc. grew its holdings in shares of Patterson-UTI Energy by 10.6% during the fourth quarter.
Pacer Advisors Inc. now owns 22,096,553 shares of the oil and gas company’s stock worth $182,518,000 after buying an additional 2,123,659 shares during the last quarter. State Street Corp grew its stake in shares of Patterson-UTI Energy by 9.
6% in the 3rd quarter. State Street Corp now owns 15,435,258 shares of the oil and gas company’s stock valued at $118,080,000 after purchasing an additional 1,352,840 shares during the last quarter. ARGA Investment Management LP increased its holdings in shares of Patterson-UTI Energy by 421.
0% in the fourth quarter. ARGA Investment Management LP now owns 10,214,860 shares of the oil and gas company’s stock valued at $84,375,000 after purchasing an additional 8,254,137 shares during the period. American Century Companies Inc.
raised its stake in shares of Patterson-UTI Energy by 13.5% during the fourth quarter. American Century Companies Inc.
now owns 9,636,471 shares of the oil and gas company’s stock worth $79,597,000 after purchasing an additional 1,144,094 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Patterson-UTI Energy by 5.6% during the third quarter.
Geode Capital Management LLC now owns 8,980,881 shares of the oil and gas company’s stock worth $68,717,000 after purchasing an additional 478,064 shares during the period. 97.91% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades A number of brokerages have commented on PTEN. The Goldman Sachs Group upgraded shares of Patterson-UTI Energy from a “neutral” rating to a “buy” rating and cut their price objective for the stock from $11.00 to $10.
00 in a research report on Friday, December 13th. Morgan Stanley reduced their price objective on shares of Patterson-UTI Energy from $10.00 to $9.
00 and set an “equal weight” rating for the company in a research report on Thursday, March 27th. Stifel Nicolaus dropped their target price 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. Finally, Raymond James cut Patterson-UTI Energy from a “strong-buy” rating to a “market perform” rating in a report on Monday, January 6th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the stock.
Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.54. Insider Buying and Selling at Patterson-UTI Energy In related news, Director James Carl Stewart sold 48,149 shares of the company’s stock in a transaction that occurred 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 sale, the director now owns 85,475 shares of the company’s stock, valued at approximately $634,224.50. This represents a 36.
03 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink . Also, Director Robert Wayne Drummond, Jr.
sold 230,000 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $8.89, for a total value of $2,044,700.
00. Following the transaction, the director now directly owns 1,549,081 shares of the company’s stock, valued at $13,771,330.09.
The trade was a 12.93 % decrease in their position. The disclosure for this sale can be found here .
Insiders own 2.30% of the company’s stock. Patterson-UTI Energy Trading Down 4.
0 % NASDAQ:PTEN opened at $5.46 on Wednesday. Patterson-UTI Energy, Inc.
has a 52-week low of $5.12 and a 52-week high of $12.28.
The company has a quick ratio of 1.34, a current ratio of 1.54 and a debt-to-equity ratio of 0.
35. The stock has a fifty day simple moving average of $8.01 and a 200-day simple moving average of $8.
12. The company has a market capitalization of $2.11 billion, a PE ratio of -2.
21 and a beta of 1.60. Patterson-UTI Energy Announces Dividend The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th.
Shareholders of record on Monday, March 3rd were given a dividend of $0.08 per share. This represents a $0.
32 dividend on an annualized basis and a yield of 5.86%. The ex-dividend date was Monday, March 3rd.
Patterson-UTI Energy’s payout ratio is currently -12.96%. 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 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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