Gamco Investors INC. ET AL cut its holdings in Patterson-UTI Energy, Inc. (NASDAQ:PTEN) by 7.7% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 26,500 shares of the oil and gas company’s stock after selling 2,200 shares during the period. Gamco Investors INC. ET AL’s holdings in Patterson-UTI Energy were worth $610,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. BNP Paribas Arbitrage SA lifted its position in Patterson-UTI Energy by 14.1% during the third quarter. BNP Paribas Arbitrage SA now owns 261,427 shares of the oil and gas company’s stock worth $5,474,000 after purchasing an additional 32,293 shares during the period. 361 Capital LLC lifted its position in Patterson-UTI Energy by 9.2% during the third quarter. 361 Capital LLC now owns 82,388 shares of the oil and gas company’s stock worth $1,725,000 after purchasing an additional 6,914 shares during the period. Schwab Charles Investment Management Inc. lifted its position in Patterson-UTI Energy by 26.7% during the third quarter. Schwab Charles Investment Management Inc. now owns 771,726 shares of the oil and gas company’s stock worth $16,160,000 after purchasing an additional 162,677 shares during the period. State Treasurer State of Michigan lifted its position in Patterson-UTI Energy by 17.6% during the third quarter. State Treasurer State of Michigan now owns 80,200 shares of the oil and gas company’s stock worth $1,679,000 after purchasing an additional 12,000 shares during the period. Finally, New York State Common Retirement Fund lifted its position in Patterson-UTI Energy by 4.7% during the third quarter. New York State Common Retirement Fund now owns 1,179,300 shares of the oil and gas company’s stock worth $24,695,000 after purchasing an additional 53,473 shares during the period. 97.79% of the stock is owned by institutional investors and hedge funds.

PTEN has been the subject of several recent analyst reports. Cowen set a $24.00 price objective on shares of Patterson-UTI Energy and gave the stock a “hold” rating in a research report on Wednesday, October 18th. Credit Suisse Group upped their price objective on shares of Patterson-UTI Energy from $17.00 to $21.00 and gave the stock a “neutral” rating in a research report on Friday, October 27th. Zacks Investment Research cut shares of Patterson-UTI Energy from a “buy” rating to a “hold” rating in a research report on Monday, October 30th. Piper Jaffray Companies set a $24.00 price objective on shares of Patterson-UTI Energy and gave the stock a “buy” rating in a research report on Tuesday, October 31st. Finally, TheStreet raised shares of Patterson-UTI Energy from a “d+” rating to a “c-” rating in a research report on Monday, December 4th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and twenty have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $27.00.

In related news, Director Tiffany J. Thom sold 2,574 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $23.08, for a total value of $59,407.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 4.60% of the stock is currently owned by corporate insiders.

Patterson-UTI Energy, Inc. (PTEN) opened at $18.15 on Tuesday. The company has a current ratio of 1.23, a quick ratio of 1.16 and a debt-to-equity ratio of 0.17. Patterson-UTI Energy, Inc. has a fifty-two week low of $14.83 and a fifty-two week high of $29.76.

Patterson-UTI Energy (NASDAQ:PTEN) last posted its earnings results on Thursday, February 8th. The oil and gas company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.02). The company had revenue of $787.33 million during the quarter, compared to the consensus estimate of $764.84 million. Patterson-UTI Energy had a negative return on equity of 5.07% and a net margin of 0.25%. The firm’s revenue was up 218.9% compared to the same quarter last year. During the same period last year, the company posted ($0.53) EPS. equities research analysts forecast that Patterson-UTI Energy, Inc. will post 0.05 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 22nd. Stockholders of record on Thursday, March 8th will be issued a $0.02 dividend. The ex-dividend date is Wednesday, March 7th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.44%. Patterson-UTI Energy’s dividend payout ratio (DPR) is currently -57.14%.

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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.

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

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