Cramer Rosenthal Mcglynn LLC grew its stake in Patterson-UTI Energy, Inc. (NASDAQ:PTEN) by 16.8% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 732,480 shares of the oil and gas company’s stock after acquiring an additional 105,170 shares during the quarter. Cramer Rosenthal Mcglynn LLC owned about 0.33% of Patterson-UTI Energy worth $15,338,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of PTEN. BlueMountain Capital Management LLC increased its stake in shares of Patterson-UTI Energy by 8,571.3% in the 2nd quarter. BlueMountain Capital Management LLC now owns 3,761,861 shares of the oil and gas company’s stock worth $75,952,000 after acquiring an additional 3,718,478 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Patterson-UTI Energy by 22.8% in the 2nd quarter. Vanguard Group Inc. now owns 16,761,217 shares of the oil and gas company’s stock worth $338,409,000 after acquiring an additional 3,115,388 shares during the last quarter. Axar Capital Management L.P. acquired a new stake in shares of Patterson-UTI Energy in the 2nd quarter worth $59,956,000. JPMorgan Chase & Co. increased its stake in shares of Patterson-UTI Energy by 39.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 7,866,364 shares of the oil and gas company’s stock worth $158,823,000 after acquiring an additional 2,224,128 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. increased its stake in shares of Patterson-UTI Energy by 285.0% in the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 2,722,481 shares of the oil and gas company’s stock worth $57,009,000 after acquiring an additional 2,015,336 shares during the last quarter. 97.91% of the stock is owned by institutional investors and hedge funds.

A number of brokerages have issued reports on PTEN. Jefferies Group set a $26.00 target price on Patterson-UTI Energy and gave the stock a “buy” rating in a research note on Thursday, October 5th. Deutsche Bank started coverage on Patterson-UTI Energy in a research report on Tuesday, October 10th. They set a “buy” rating and a $25.00 price objective for the company. Zacks Investment Research raised Patterson-UTI Energy from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a research report on Wednesday, October 11th. Citigroup set a $24.00 price objective on Patterson-UTI Energy and gave the stock a “buy” rating in a research report on Thursday, October 5th. Finally, SunTrust Banks reissued a “buy” rating and set a $25.00 price objective (down from $33.00) on shares of Patterson-UTI Energy in a research report on Tuesday, October 3rd. One analyst has rated the stock with a sell rating, ten have given a hold rating and seventeen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $26.71.

Patterson-UTI Energy, Inc. (PTEN) opened at $21.26 on Wednesday. The company has a quick ratio of 1.16, a current ratio of 1.23 and a debt-to-equity ratio of 0.17. 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 released its earnings results on Thursday, October 26th. The oil and gas company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.04. The company had revenue of $684.99 million during the quarter, compared to the consensus estimate of $688.05 million. Patterson-UTI Energy had a negative return on equity of 7.31% and a negative net margin of 14.73%. Patterson-UTI Energy’s revenue was up 232.3% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.58) EPS. analysts predict that Patterson-UTI Energy, Inc. will post -0.81 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 21st. Shareholders of record on Thursday, December 7th will be given a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.38%. The ex-dividend date is Wednesday, December 6th. Patterson-UTI Energy’s dividend payout ratio is currently -5.16%.

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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.

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

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