Patterson-UTI Energy, Inc. (PTEN) Holdings Trimmed by Nationwide Fund Advisors
Nationwide Fund Advisors reduced its holdings in shares of Patterson-UTI Energy, Inc. (NASDAQ:PTEN) by 6.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 313,169 shares of the oil and gas company’s stock after selling 23,042 shares during the period. Nationwide Fund Advisors owned 0.19% of Patterson-UTI Energy worth $6,323,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Riverhead Capital Management LLC raised its position in shares of Patterson-UTI Energy by 86.2% in the 2nd quarter. Riverhead Capital Management LLC now owns 10,053 shares of the oil and gas company’s stock worth $203,000 after acquiring an additional 4,653 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Patterson-UTI Energy by 7.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 9,303 shares of the oil and gas company’s stock valued at $225,000 after purchasing an additional 683 shares in the last quarter. Pacad Investment Ltd. bought a new stake in shares of Patterson-UTI Energy during the 2nd quarter valued at about $246,000. World Asset Management Inc boosted its position in shares of Patterson-UTI Energy by 2.5% during the 2nd quarter. World Asset Management Inc now owns 12,324 shares of the oil and gas company’s stock valued at $249,000 after purchasing an additional 295 shares in the last quarter. Finally, LS Investment Advisors LLC boosted its position in shares of Patterson-UTI Energy by 24.9% during the 2nd quarter. LS Investment Advisors LLC now owns 13,497 shares of the oil and gas company’s stock valued at $273,000 after purchasing an additional 2,694 shares in the last quarter. 98.56% of the stock is owned by hedge funds and other institutional investors.
Patterson-UTI Energy, Inc. (NASDAQ PTEN) opened at 20.83 on Tuesday. The company’s market capitalization is $4.41 billion. The company’s 50 day moving average is $17.59 and its 200-day moving average is $20.45. 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 announced its quarterly earnings data on Thursday, July 27th. The oil and gas company reported ($0.21) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.30) by $0.09. Patterson-UTI Energy had a negative return on equity of 10.03% and a negative net margin of 23.78%. The business had revenue of $579.00 million during the quarter, compared to analysts’ expectations of $556.47 million. During the same quarter in the previous year, the business earned ($0.58) earnings per share. The firm’s quarterly revenue was up 198.5% compared to the same quarter last year. Equities analysts anticipate that Patterson-UTI Energy, Inc. will post ($0.90) EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 21st. Stockholders of record on Thursday, September 7th were paid a $0.02 dividend. The ex-dividend date was Wednesday, September 6th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.38%. Patterson-UTI Energy’s dividend payout ratio is currently -4.06%.
Several research firms recently commented on PTEN. Credit Suisse Group decreased their target price on Patterson-UTI Energy from $22.00 to $20.00 and set a “neutral” rating for the company in a research note on Friday, September 22nd. Zacks Investment Research lowered Patterson-UTI Energy from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Societe Generale started coverage on Patterson-UTI Energy in a research note on Thursday, August 31st. They issued a “buy” rating and a $22.00 price target on the stock. Royal Bank Of Canada reissued a “buy” rating and issued a $29.00 price target on shares of Patterson-UTI Energy in a research note on Thursday, July 20th. Finally, Jefferies Group LLC set a $26.00 price target on Patterson-UTI Energy and gave the stock a “buy” rating in a report on Saturday, July 29th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and sixteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $27.23.
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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