Thompson Siegel & Walmsley LLC Sells 49,067 Shares of Patterson-UTI Energy, Inc. $PTEN

Thompson Siegel & Walmsley LLC cut its stake in shares of Patterson-UTI Energy, Inc. (NASDAQ:PTEN) by 4.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,121,800 shares of the oil and gas company’s stock after selling 49,067 shares during the period. Thompson Siegel & Walmsley LLC owned approximately 0.30% of Patterson-UTI Energy worth $6,854,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Sage Rhino Capital LLC grew its position in shares of Patterson-UTI Energy by 6.6% during the 4th quarter. Sage Rhino Capital LLC now owns 25,371 shares of the oil and gas company’s stock worth $155,000 after buying an additional 1,575 shares during the period. The Manufacturers Life Insurance Company boosted its stake in Patterson-UTI Energy by 0.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 370,476 shares of the oil and gas company’s stock worth $2,197,000 after acquiring an additional 1,915 shares during the last quarter. First Horizon Corp boosted its stake in Patterson-UTI Energy by 58.5% during the 4th quarter. First Horizon Corp now owns 5,554 shares of the oil and gas company’s stock worth $34,000 after acquiring an additional 2,049 shares during the last quarter. Wedge Capital Management L L P NC grew its holdings in Patterson-UTI Energy by 0.4% during the fourth quarter. Wedge Capital Management L L P NC now owns 567,060 shares of the oil and gas company’s stock valued at $3,465,000 after purchasing an additional 2,430 shares during the period. Finally, Brucke Financial Inc. grew its holdings in Patterson-UTI Energy by 16.6% during the third quarter. Brucke Financial Inc. now owns 22,351 shares of the oil and gas company’s stock valued at $116,000 after purchasing an additional 3,176 shares during the period. Institutional investors own 97.91% of the company’s stock.

Insider Buying and Selling at Patterson-UTI Energy

In other Patterson-UTI Energy news, Director Cesar Jaime sold 10,000 shares of Patterson-UTI Energy stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $12.29, for a total value of $122,900.00. Following the sale, the director directly owned 77,462 shares in the company, valued at approximately $952,007.98. The trade was a 11.43% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William Andrew Hendricks, Jr. sold 250,000 shares of the firm’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $11.85, for a total value of $2,962,500.00. Following the completion of the transaction, the chief executive officer owned 2,823,103 shares of the company’s stock, valued at $33,453,770.55. The trade was a 8.14% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 958,949 shares of company stock valued at $11,107,535 over the last ninety days. 2.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on PTEN shares. Bank of America reiterated a “buy” rating on shares of Patterson-UTI Energy in a report on Monday, March 2nd. Royal Bank Of Canada boosted their price target on shares of Patterson-UTI Energy from $14.00 to $15.00 and gave the company an “outperform” rating in a report on Friday. KeyCorp raised Patterson-UTI Energy to an “overweight” rating in a research note on Wednesday, May 27th. Capital One Financial upgraded Patterson-UTI Energy from an “equal weight” rating to an “overweight” rating and set a $12.00 target price on the stock in a report on Monday, April 20th. Finally, Susquehanna boosted their target price on Patterson-UTI Energy from $13.00 to $14.00 and gave the company a “positive” rating in a research note on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $12.10.

Patterson-UTI Energy Trading Up 2.9%

PTEN opened at $11.53 on Tuesday. The stock has a market capitalization of $4.38 billion, a P/E ratio of -37.19 and a beta of 0.61. The company has a current ratio of 1.84, a quick ratio of 1.63 and a debt-to-equity ratio of 0.39. Patterson-UTI Energy, Inc. has a 12 month low of $5.10 and a 12 month high of $13.08. The firm’s fifty day simple moving average is $11.26 and its 200 day simple moving average is $8.68.

Patterson-UTI Energy (NASDAQ:PTEN) last released its quarterly earnings results on Wednesday, April 22nd. The oil and gas company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.04. The firm had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.11 billion. Patterson-UTI Energy had a negative return on equity of 2.32% and a negative net margin of 2.56%.The business’s quarterly revenue was down 12.7% compared to the same quarter last year. As a group, research analysts anticipate that Patterson-UTI Energy, Inc. will post -0.16 EPS for the current fiscal year.

Patterson-UTI Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend is Monday, June 1st. Patterson-UTI Energy’s dividend payout ratio (DPR) is currently -129.03%.

Patterson-UTI Energy Profile

Patterson-UTI Energy provides a comprehensive suite of onshore contract drilling and pressure pumping services to exploration and production companies in North America. The company’s core offerings include land-based drilling rigs, directional drilling, hydraulic fracturing services, downhole tool rental and well-servicing equipment. By integrating drilling and completion capabilities, Patterson-UTI Energy offers operators a streamlined solution designed to improve operational efficiency and well performance.

Headquartered in Houston, Texas, Patterson-UTI Energy traces its origins to its founding in 1978 and was later incorporated in Delaware in 1996.