Canada Pension Plan Investment Board boosted its position in Patterson-UTI Energy, Inc. (NASDAQ:PTEN) by 16.8% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 152,000 shares of the oil and gas company’s stock after purchasing an additional 21,900 shares during the period. Canada Pension Plan Investment Board owned about 0.07% of Patterson-UTI Energy worth $3,183,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. PNC Financial Services Group Inc. boosted its position in 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 worth $225,000 after purchasing an additional 683 shares during the last quarter. Riverhead Capital Management LLC boosted its position in Patterson-UTI Energy by 86.2% in the second quarter. Riverhead Capital Management LLC now owns 10,053 shares of the oil and gas company’s stock worth $203,000 after purchasing an additional 4,653 shares during the last quarter. Madden Advisory Services Inc. purchased a new position in Patterson-UTI Energy in the second quarter worth about $236,000. Gluskin Sheff & Assoc Inc. boosted its position in Patterson-UTI Energy by 7.1% in the second quarter. Gluskin Sheff & Assoc Inc. now owns 11,740 shares of the oil and gas company’s stock worth $237,000 after purchasing an additional 780 shares during the last quarter. Finally, Pacad Investment Ltd. purchased a new position in Patterson-UTI Energy in the second quarter worth about $246,000. 95.05% of the stock is currently owned by institutional investors and hedge funds.

Several research firms have recently commented on PTEN. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $29.00 price objective on shares of Patterson-UTI Energy in a research note on Thursday, July 20th. Seaport Global Securities reaffirmed a “neutral” rating on shares of Patterson-UTI Energy in a research note on Thursday, July 20th. Zacks Investment Research downgraded Patterson-UTI Energy from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. BidaskClub downgraded Patterson-UTI Energy from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Finally, Piper Jaffray Companies set a $22.00 price objective on Patterson-UTI Energy and gave the stock a “buy” rating in a research note on Thursday, July 27th. One analyst has rated the stock with a sell rating, ten have given a hold rating and eighteen have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $26.71.

Shares of Patterson-UTI Energy, Inc. (NASDAQ PTEN) opened at $19.63 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.23 and a quick ratio of 1.16. Patterson-UTI Energy, Inc. has a 12 month low of $14.83 and a 12 month high of $29.76.

Patterson-UTI Energy (NASDAQ:PTEN) last released its quarterly earnings data on Thursday, October 26th. The oil and gas company reported ($0.13) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.17) by $0.04. Patterson-UTI Energy had a negative return on equity of 7.31% and a negative net margin of 14.73%. The business had revenue of $684.99 million for the quarter, compared to the consensus estimate of $688.05 million. During the same quarter in the previous year, the company posted ($0.58) EPS. The company’s revenue was up 232.3% compared to the same quarter last year. sell-side analysts predict that Patterson-UTI Energy, Inc. will post -0.82 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 21st. Shareholders of record on Thursday, December 7th will be paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date of this dividend is Wednesday, December 6th. Patterson-UTI Energy’s payout ratio is -5.16%.

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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.

Institutional Ownership by Quarter for Patterson-UTI Energy (NASDAQ:PTEN)

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