Keeley Teton Advisors LLC Has $520,000 Stock Holdings in Patterson-UTI Energy, Inc. $PTEN

Keeley Teton Advisors LLC lifted its position in shares of Patterson-UTI Energy, Inc. (NASDAQ:PTEN) by 36.4% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 63,211 shares of the oil and gas company’s stock after buying an additional 16,864 shares during the quarter. Keeley Teton Advisors LLC’s holdings in Patterson-UTI Energy were worth $520,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of PTEN. Point72 Asia Singapore Pte. Ltd. bought a new position in Patterson-UTI Energy during the fourth quarter worth about $42,000. Blue Trust Inc. increased its holdings in shares of Patterson-UTI Energy by 42.9% during the first quarter. Blue Trust Inc. now owns 7,167 shares of the oil and gas company’s stock worth $59,000 after purchasing an additional 2,153 shares during the period. Smartleaf Asset Management LLC increased its holdings in shares of Patterson-UTI Energy by 41.0% during the first quarter. Smartleaf Asset Management LLC now owns 7,983 shares of the oil and gas company’s stock worth $65,000 after purchasing an additional 2,323 shares during the period. Wedbush Securities Inc. acquired a new stake in shares of Patterson-UTI Energy in the first quarter valued at approximately $85,000. Finally, Crestline Management LP bought a new stake in shares of Patterson-UTI Energy in the fourth quarter valued at approximately $85,000. Institutional investors own 97.91% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on PTEN shares. Barclays lowered their price objective on Patterson-UTI Energy from $8.00 to $7.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 29th. Susquehanna decreased their price target on Patterson-UTI Energy from $9.00 to $8.00 and set a “positive” rating on the stock in a research report on Wednesday, June 4th. Royal Bank Of Canada dropped their price target on Patterson-UTI Energy from $9.00 to $8.50 and set an “outperform” rating for the company in a research note on Friday, July 25th. Stifel Nicolaus cut their price objective on shares of Patterson-UTI Energy from $12.00 to $10.00 and set a “buy” rating for the company in a research report on Friday, July 25th. Finally, Piper Sandler began coverage on shares of Patterson-UTI Energy in a report on Tuesday, July 15th. They issued a “neutral” rating and a $7.00 target price on the stock. Five investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, Patterson-UTI Energy currently has an average rating of “Hold” and an average target price of $8.27.

Patterson-UTI Energy Price Performance

Shares of PTEN stock opened at $5.71 on Thursday. The business has a fifty day simple moving average of $5.90 and a 200 day simple moving average of $6.53. The company has a market cap of $2.20 billion, a P/E ratio of -2.07 and a beta of 1.30. The company has a quick ratio of 1.50, a current ratio of 1.73 and a debt-to-equity ratio of 0.37. Patterson-UTI Energy, Inc. has a twelve month low of $5.12 and a twelve month high of $9.57.

Patterson-UTI Energy (NASDAQ:PTEN) last issued its earnings results on Wednesday, July 23rd. The oil and gas company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.02). Patterson-UTI Energy had a negative return on equity of 1.94% and a negative net margin of 21.49%.The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.24 billion. During the same period in the previous year, the firm posted $0.03 EPS. The firm’s revenue was down 9.6% compared to the same quarter last year. On average, sell-side analysts forecast that Patterson-UTI Energy, Inc. will post -0.1 EPS for the current fiscal year.

Patterson-UTI Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be given a $0.08 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $0.32 dividend on an annualized basis and a yield of 5.6%. Patterson-UTI Energy’s dividend payout ratio (DPR) is currently -11.59%.

Patterson-UTI Energy 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.