Patterson-UTI Energy, Inc. (PTEN) Holdings Raised by Swiss National Bank
Swiss National Bank raised its position in Patterson-UTI Energy, Inc. (NASDAQ:PTEN) by 32.1% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 357,200 shares of the oil and gas company’s stock after purchasing an additional 86,800 shares during the period. Swiss National Bank owned approximately 0.22% of Patterson-UTI Energy worth $7,212,000 as of its most recent filing with the SEC.
Other large investors have also recently modified their holdings of the company. PNC Financial Services Group Inc. boosted its holdings in shares of Patterson-UTI Energy by 7.9% in the first quarter. PNC Financial Services Group Inc. now owns 9,303 shares of the oil and gas company’s stock valued at $225,000 after buying an additional 683 shares during the period. Pacad Investment Ltd. acquired a new position in shares of Patterson-UTI Energy in the second quarter valued at approximately $246,000. World Asset Management Inc boosted its holdings in shares of Patterson-UTI Energy by 2.5% in the second quarter. World Asset Management Inc now owns 12,324 shares of the oil and gas company’s stock valued at $249,000 after buying an additional 295 shares during the period. LS Investment Advisors LLC boosted its holdings in shares of Patterson-UTI Energy by 7.5% in the first quarter. LS Investment Advisors LLC now owns 10,803 shares of the oil and gas company’s stock valued at $262,000 after buying an additional 754 shares during the period. Finally, Capstone Asset Management Co. boosted its holdings in shares of Patterson-UTI Energy by 3.4% in the second quarter. Capstone Asset Management Co. now owns 13,954 shares of the oil and gas company’s stock valued at $282,000 after buying an additional 460 shares during the period. 98.57% of the stock is owned by hedge funds and other institutional investors.
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Shares of Patterson-UTI Energy, Inc. (NASDAQ PTEN) opened at 18.66 on Friday. The firm’s 50-day moving average is $17.11 and its 200 day moving average is $21.04. The company’s market capitalization is $3.95 billion. Patterson-UTI Energy, Inc. has a 52-week low of $14.83 and a 52-week high of $29.76.
Patterson-UTI Energy (NASDAQ:PTEN) last posted its quarterly earnings data on Thursday, July 27th. The oil and gas company reported ($0.21) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.30) by $0.09. The firm had revenue of $579.00 million for the quarter, compared to the consensus estimate of $556.47 million. Patterson-UTI Energy had a negative net margin of 23.78% and a negative return on equity of 10.03%. The business’s revenue for the quarter was up 198.5% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.58) EPS. On average, equities research analysts anticipate that Patterson-UTI Energy, Inc. will post ($0.92) earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 21st. Shareholders of record on Thursday, September 7th will be issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date of this dividend is Wednesday, September 6th. Patterson-UTI Energy’s dividend payout ratio is -4.06%.
Several research analysts have recently weighed in on the stock. UBS AG reiterated a “buy” rating and issued a $25.00 price target (down previously from $35.00) on shares of Patterson-UTI Energy in a report on Monday, July 31st. They noted that the move was a valuation call. Piper Jaffray Companies reiterated a “buy” rating on shares of Patterson-UTI Energy in a report on Tuesday, September 5th. BidaskClub upgraded shares of Patterson-UTI Energy from a “sell” rating to a “hold” rating in a report on Tuesday, June 13th. Evercore ISI reiterated an “outperform” rating and issued a $35.00 price target on shares of Patterson-UTI Energy in a report on Tuesday, June 6th. Finally, J P Morgan Chase & Co upgraded shares of Patterson-UTI Energy from a “neutral” rating to an “overweight” rating and set a $24.00 price target for the company in a report on Tuesday, September 5th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and sixteen have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $27.36.
Patterson-UTI Energy 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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