SIR Capital Management L.P. lessened its holdings in shares of Patterson-UTI Energy, Inc. (NASDAQ:PTEN) by 58.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 529,944 shares of the oil and gas company’s stock after selling 738,404 shares during the period. Patterson-UTI Energy accounts for approximately 2.7% of SIR Capital Management L.P.’s investment portfolio, making the stock its 17th biggest position. SIR Capital Management L.P. owned about 0.24% of Patterson-UTI Energy worth $12,194,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in PTEN. Tower Research Capital LLC TRC lifted its holdings in shares of Patterson-UTI Energy by 621.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 8,444 shares of the oil and gas company’s stock worth $194,000 after acquiring an additional 7,274 shares during the last quarter. Ballentine Partners LLC acquired a new stake in Patterson-UTI Energy during the 4th quarter worth approximately $216,000. WealthTrust Axiom LLC acquired a new stake in Patterson-UTI Energy during the 4th quarter worth approximately $217,000. Schroder Investment Management Group acquired a new stake in Patterson-UTI Energy during the 4th quarter worth approximately $219,000. Finally, Falcon Point Capital LLC acquired a new stake in Patterson-UTI Energy during the 4th quarter worth approximately $222,000. 99.66% of the stock is owned by institutional investors.
Shares of Patterson-UTI Energy, Inc. (NASDAQ PTEN) traded up $0.01 during trading hours on Wednesday, reaching $19.30. 2,019,192 shares of the company were exchanged, compared to its average volume of 4,056,728. Patterson-UTI Energy, Inc. has a 12-month low of $14.83 and a 12-month high of $26.41. The firm has a market cap of $4,383.49, a PE ratio of -138.36 and a beta of 1.21. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.24 and a current ratio of 1.37.
Patterson-UTI Energy (NASDAQ:PTEN) last released its earnings results on Thursday, February 8th. The oil and gas company reported ($0.10) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by ($0.02). Patterson-UTI Energy had a negative return on equity of 4.82% and a net margin of 0.25%. The firm had revenue of $787.33 million during the quarter, compared to analyst estimates of $764.84 million. During the same quarter last year, the business posted ($0.53) EPS. The firm’s revenue was up 218.9% on a year-over-year basis. analysts anticipate that Patterson-UTI Energy, Inc. will post 0.03 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 22nd. Stockholders of record on Thursday, March 8th will be paid a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.41%. The ex-dividend date of this dividend is Wednesday, March 7th. Patterson-UTI Energy’s dividend payout ratio (DPR) is presently -57.14%.
In other news, Director Tiffany J. Thom sold 2,574 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $23.08, for a total value of $59,407.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 4.60% of the stock is currently owned by company insiders.
PTEN has been the topic of a number of recent analyst reports. Citigroup set a $24.00 price objective on shares of Patterson-UTI Energy and gave the company a “buy” rating in a research report on Friday, February 9th. Royal Bank of Canada set a $34.00 price objective on shares of Patterson-UTI Energy and gave the company a “buy” rating in a research report on Monday, February 5th. BidaskClub raised shares of Patterson-UTI Energy from a “hold” rating to a “buy” rating in a research report on Saturday, January 13th. Jefferies Group set a $30.00 price objective on shares of Patterson-UTI Energy and gave the company a “buy” rating in a research report on Thursday, January 4th. Finally, SunTrust Banks increased their price objective on shares of Patterson-UTI Energy to $31.00 and gave the company a “buy” rating in a research report on Wednesday, December 6th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $26.21.
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About Patterson-UTI Energy
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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