Schroder Investment Management Group Acquires 2,890 Shares of Patterson-UTI Energy, Inc. (PTEN)
Schroder Investment Management Group raised its position in Patterson-UTI Energy, Inc. (NASDAQ:PTEN) by 5.2% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 58,853 shares of the company’s stock after buying an additional 2,890 shares during the period. Schroder Investment Management Group’s holdings in Patterson-UTI Energy were worth $1,317,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Advisor Group Inc. boosted its position in shares of Patterson-UTI Energy by 1,535.8% in the third quarter. Advisor Group Inc. now owns 7,443 shares of the company’s stock worth $167,000 after buying an additional 6,988 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in Patterson-UTI Energy by 89.3% in the second quarter. PNC Financial Services Group Inc. now owns 8,732 shares of the company’s stock worth $186,000 after buying an additional 4,118 shares during the period. LS Investment Advisors LLC boosted its stake in Patterson-UTI Energy by 76.1% in the second quarter. LS Investment Advisors LLC now owns 8,822 shares of the company’s stock worth $188,000 after buying an additional 3,811 shares during the period. UMB Bank N A MO acquired a new stake in Patterson-UTI Energy during the third quarter worth $225,000. Finally, Cubist Systematic Strategies LLC boosted its stake in Patterson-UTI Energy by 102.1% in the second quarter. Cubist Systematic Strategies LLC now owns 11,864 shares of the company’s stock worth $253,000 after buying an additional 5,993 shares during the period.
Patterson-UTI Energy, Inc. (NASDAQ:PTEN) traded down 2.79% during midday trading on Friday, hitting $27.53. 2,700,111 shares of the company traded hands. Patterson-UTI Energy, Inc. has a 12-month low of $10.94 and a 12-month high of $29.56. The firm’s market capitalization is $4.04 billion. The stock’s 50-day moving average is $26.83 and its 200-day moving average is $22.44.
Patterson-UTI Energy (NASDAQ:PTEN) last announced its quarterly earnings data on Thursday, October 27th. The company reported ($0.58) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.60) by $0.02. Patterson-UTI Energy had a negative net margin of 29.69% and a negative return on equity of 12.24%. The business had revenue of $206.10 million for the quarter, compared to analyst estimates of $205.31 million. During the same period in the prior year, the business posted ($0.26) earnings per share. Patterson-UTI Energy’s revenue was down 51.2% compared to the same quarter last year. Analysts anticipate that Patterson-UTI Energy, Inc. will post ($2.29) EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 22nd. Investors of record on Thursday, December 8th were issued a $0.02 dividend. The ex-dividend date of this dividend was Tuesday, December 6th. This represents a $0.08 annualized dividend and a yield of 0.29%. Patterson-UTI Energy’s dividend payout ratio is currently -3.92%.
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A number of equities research analysts have recently weighed in on PTEN shares. Scotiabank reaffirmed a “sector perform” rating and set a $27.00 price target (up previously from $22.00) on shares of Patterson-UTI Energy in a report on Friday, October 28th. Bank of America raised Patterson-UTI Energy from a “neutral” rating to a “buy” rating in a report on Wednesday, November 30th. Jefferies Group reaffirmed a “buy” rating and set a $29.00 price target on shares of Patterson-UTI Energy in a report on Wednesday, October 19th. DA Davidson reaffirmed a “buy” rating and set a $26.00 price target on shares of Patterson-UTI Energy in a report on Thursday, September 15th. Finally, Guggenheim cut Patterson-UTI Energy from a “buy” rating to a “neutral” rating in a report on Tuesday, December 6th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and seventeen have given a buy rating to the stock. Patterson-UTI Energy has a consensus rating of “Buy” and a consensus price target of $23.93.
Patterson-UTI Energy Company Profile
Patterson-UTI Energy, Inc owns and operates fleets of land-based drilling rigs and a fleet of pressure pumping equipment in the United States. The Company operates in three segments: Contract Drilling, Pressure Pumping, and Oil and Natural Gas. The Company provides contract drilling services to oil and natural gas operators in the continental United States, and western and northern Canada.
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