Patterson-UTI Energy, Inc. (NASDAQ:PTEN) Director Terry H. Hunt sold 10,000 shares of the business’s stock in a transaction on Tuesday, March 13th. The shares were sold at an average price of $19.46, for a total value of $194,600.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Patterson-UTI Energy, Inc. (PTEN) traded up $0.01 during mid-day trading on Wednesday, hitting $19.30. The stock had a trading volume of 1,925,360 shares, compared to its average volume of 4,620,000. The company has a market capitalization of $4,290.00, a P/E ratio of -17.23 and a beta of 1.21. Patterson-UTI Energy, Inc. has a 12 month low of $14.83 and a 12 month high of $26.41. The company has a current ratio of 1.37, a quick ratio of 1.24 and a debt-to-equity ratio of 0.15.
Patterson-UTI Energy (NASDAQ:PTEN) last released its earnings results on Thursday, February 8th. The oil and gas company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.02). The firm had revenue of $787.33 million for the quarter, compared to the consensus estimate of $764.84 million. Patterson-UTI Energy had a negative return on equity of 4.82% and a net margin of 0.25%. The company’s revenue was up 218.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.53) EPS. analysts predict that Patterson-UTI Energy, Inc. will post 0.03 EPS for the current 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 given a dividend of $0.02 per share. The ex-dividend date is Wednesday, March 7th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.41%. Patterson-UTI Energy’s payout ratio is currently -7.14%.
Several analysts recently commented on PTEN shares. TheStreet raised Patterson-UTI Energy from a “d+” rating to a “c-” rating in a research note on Monday, December 4th. SunTrust Banks boosted their price target on Patterson-UTI Energy to $31.00 and gave the company a “buy” rating in a research note on Wednesday, December 6th. Jefferies Group set a $30.00 price target on Patterson-UTI Energy and gave the company a “buy” rating in a research note on Thursday, January 4th. Stephens assumed coverage on Patterson-UTI Energy in a research note on Tuesday, January 9th. They issued an “overweight” rating and a $29.00 price objective on the stock. Finally, Cowen set a $30.00 price objective on Patterson-UTI Energy and gave the stock a “hold” rating in a research note on Thursday, January 11th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and twenty have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $26.21.
Hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA raised its position in shares of Patterson-UTI Energy by 14.1% during the third quarter. BNP Paribas Arbitrage SA now owns 261,427 shares of the oil and gas company’s stock worth $5,474,000 after acquiring an additional 32,293 shares during the last quarter. 361 Capital LLC raised its position in shares of Patterson-UTI Energy by 9.2% during the third quarter. 361 Capital LLC now owns 82,388 shares of the oil and gas company’s stock worth $1,725,000 after acquiring an additional 6,914 shares during the last quarter. Schwab Charles Investment Management Inc. raised its position in shares of Patterson-UTI Energy by 26.7% during the third quarter. Schwab Charles Investment Management Inc. now owns 771,726 shares of the oil and gas company’s stock worth $16,160,000 after acquiring an additional 162,677 shares during the last quarter. New York State Common Retirement Fund raised its position in shares of Patterson-UTI Energy by 4.7% during the third quarter. New York State Common Retirement Fund now owns 1,179,300 shares of the oil and gas company’s stock worth $24,695,000 after acquiring an additional 53,473 shares during the last quarter. Finally, California Public Employees Retirement System raised its position in shares of Patterson-UTI Energy by 3.3% during the third quarter. California Public Employees Retirement System now owns 495,566 shares of the oil and gas company’s stock worth $10,377,000 after acquiring an additional 15,915 shares during the last quarter. Institutional investors own 99.66% of the company’s stock.
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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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