Patterson-UTI Energy, Inc. (NASDAQ:PTEN) Shares Purchased by Quantbot Technologies LP

Quantbot Technologies LP lifted its holdings in Patterson-UTI Energy, Inc. (NASDAQ:PTEN) by 81.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 316,210 shares of the oil and gas company’s stock after acquiring an additional 142,353 shares during the period. Quantbot Technologies LP owned approximately 0.08% of Patterson-UTI Energy worth $3,276,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. CWM LLC increased its position in shares of Patterson-UTI Energy by 28.5% in the first quarter. CWM LLC now owns 4,031 shares of the oil and gas company’s stock worth $48,000 after acquiring an additional 893 shares in the last quarter. InTrack Investment Management Inc increased its position in shares of Patterson-UTI Energy by 3.2% in the second quarter. InTrack Investment Management Inc now owns 32,950 shares of the oil and gas company’s stock worth $341,000 after acquiring an additional 1,037 shares in the last quarter. Commerce Bank increased its position in shares of Patterson-UTI Energy by 4.7% in the fourth quarter. Commerce Bank now owns 26,298 shares of the oil and gas company’s stock worth $284,000 after acquiring an additional 1,186 shares in the last quarter. Hexagon Capital Partners LLC increased its position in shares of Patterson-UTI Energy by 119.5% in the second quarter. Hexagon Capital Partners LLC now owns 2,401 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 1,307 shares in the last quarter. Finally, Lindbrook Capital LLC increased its position in shares of Patterson-UTI Energy by 66.5% in the first quarter. Lindbrook Capital LLC now owns 3,335 shares of the oil and gas company’s stock worth $40,000 after acquiring an additional 1,332 shares in the last quarter. Institutional investors and hedge funds own 97.91% of the company’s stock.

Patterson-UTI Energy Trading Up 2.8 %

NASDAQ PTEN opened at $8.13 on Tuesday. Patterson-UTI Energy, Inc. has a 12 month low of $7.60 and a 12 month high of $15.97. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.50 and a quick ratio of 1.30. The company has a market capitalization of $3.27 billion, a price-to-earnings ratio of 11.96 and a beta of 2.13. The company’s fifty day moving average price is $9.36 and its two-hundred day moving average price is $10.47.

Patterson-UTI Energy (NASDAQ:PTEN) last posted its quarterly earnings data on Wednesday, July 24th. The oil and gas company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.04). Patterson-UTI Energy had a net margin of 2.28% and a return on equity of 4.49%. The company had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.41 billion. As a group, research analysts predict that Patterson-UTI Energy, Inc. will post 0.3 earnings per share for the current fiscal year.

Patterson-UTI Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd were given a $0.08 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $0.32 dividend on an annualized basis and a dividend yield of 3.94%. Patterson-UTI Energy’s payout ratio is currently 47.06%.

Analyst Ratings Changes

Several research firms have recently issued reports on PTEN. StockNews.com lowered shares of Patterson-UTI Energy from a “hold” rating to a “sell” rating in a research report on Monday, August 5th. Bank of America decreased their target price on shares of Patterson-UTI Energy from $14.00 to $12.50 and set a “buy” rating for the company in a research note on Monday, July 15th. Piper Sandler decreased their target price on shares of Patterson-UTI Energy from $14.00 to $12.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. Royal Bank of Canada decreased their target price on shares of Patterson-UTI Energy from $15.00 to $14.00 and set an “outperform” rating for the company in a research note on Friday, July 26th. Finally, Barclays decreased their target price on shares of Patterson-UTI Energy from $15.00 to $14.00 and set an “overweight” rating for the company in a research note on Friday, August 16th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $13.13.

Patterson-UTI Energy Company Profile

Patterson-UTI Energy, Inc, through its subsidiaries, engages in the provision of contract drilling services to oil and natural gas operators in the United States and internationally. It operates through three segments: Drilling Services, Completion Services, and Drilling Products. The Contract Drilling Services segment provides contract and directional drilling services in onshore oil and natural gas basins, as well as engages in the service and re-certification of equipment for drilling contractors, and provision of electrical controls and automation to the energy, marine and mining industries.