NN Investment Partners Holdings N.V. increased its stake in Patterson-UTI Energy, Inc. (NASDAQ:PTEN) by 471.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 337,033 shares of the oil and gas company’s stock after buying an additional 278,078 shares during the period. NN Investment Partners Holdings N.V. owned about 0.23% of Patterson-UTI Energy worth $8,179,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. ETRADE Capital Management LLC bought a new position in Patterson-UTI Energy during the third quarter valued at $200,000. Two Sigma Investments LP boosted its position in Patterson-UTI Energy by 418.4% in the fourth quarter. Two Sigma Investments LP now owns 88,612 shares of the oil and gas company’s stock valued at $2,385,000 after buying an additional 116,444 shares during the period. Viking Fund Management LLC boosted its position in Patterson-UTI Energy by 4.8% in the first quarter. Viking Fund Management LLC now owns 440,000 shares of the oil and gas company’s stock valued at $10,679,000 after buying an additional 20,000 shares during the period. OMERS ADMINISTRATION Corp bought a new position in Patterson-UTI Energy during the third quarter valued at $1,371,000. Finally, HighTower Advisors LLC boosted its position in Patterson-UTI Energy by 0.7% in the third quarter. HighTower Advisors LLC now owns 153,251 shares of the oil and gas company’s stock valued at $3,435,000 after buying an additional 1,088 shares during the period. Hedge funds and other institutional investors own 85.27% of the company’s stock.
Shares of Patterson-UTI Energy, Inc. (NASDAQ:PTEN) traded up 2.20% during midday trading on Friday, reaching $20.41. 6,182,284 shares of the company’s stock traded hands. The stock’s market cap is $3.37 billion. The stock has a 50 day moving average of $21.31 and a 200-day moving average of $25.16. Patterson-UTI Energy, Inc. has a 12 month low of $17.61 and a 12 month high of $29.76.
Patterson-UTI Energy (NASDAQ:PTEN) last released its quarterly earnings results on Thursday, April 27th. The oil and gas company reported ($0.42) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.02. Patterson-UTI Energy had a negative net margin of 32.74% and a negative return on equity of 13.10%. The company had revenue of $305.20 million for the quarter, compared to analyst estimates of $294.82 million. During the same period last year, the firm earned ($0.48) earnings per share. The firm’s revenue was up 13.5% on a year-over-year basis. On average, equities research analysts forecast that Patterson-UTI Energy, Inc. will post ($1.06) EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 22nd. Shareholders of record on Thursday, June 8th will be given a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.39%. The ex-dividend date of this dividend is Tuesday, June 6th. Patterson-UTI Energy’s dividend payout ratio is -3.83%.
A number of research firms have commented on PTEN. Guggenheim raised shares of Patterson-UTI Energy from a “neutral” rating to a “buy” rating in a report on Monday, February 20th. Zacks Investment Research raised shares of Patterson-UTI Energy from a “hold” rating to a “buy” rating and set a $28.00 target price for the company in a report on Thursday, March 16th. Capital One Financial Corporation raised shares of Patterson-UTI Energy from an “equal weight” rating to an “overweight” rating in a report on Monday, May 8th. Morgan Stanley reaffirmed an “overweight” rating on shares of Patterson-UTI Energy in a report on Friday, April 28th. Finally, Jefferies Group LLC set a $35.00 target price on shares of Patterson-UTI Energy and gave the stock a “buy” rating in a report on Monday, March 20th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and eighteen have given a buy rating to the stock. Patterson-UTI Energy has a consensus rating of “Buy” and a consensus price target of $28.08.
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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