Patterson-UTI Energy, Inc. $PTEN Shares Sold by Savant Capital LLC

Savant Capital LLC trimmed its holdings in Patterson-UTI Energy, Inc. (NASDAQ:PTEN) by 68.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,459 shares of the oil and gas company’s stock after selling 53,275 shares during the quarter. Savant Capital LLC’s holdings in Patterson-UTI Energy were worth $145,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. State of Wyoming purchased a new position in Patterson-UTI Energy during the 1st quarter worth $54,000. Smartleaf Asset Management LLC boosted its stake 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 buying an additional 2,323 shares during the period. Oak Family Advisors LLC purchased a new position in shares of Patterson-UTI Energy during the second quarter worth about $74,000. Stratos Wealth Partners LTD. acquired a new position in Patterson-UTI Energy in the 2nd quarter valued at about $81,000. Finally, Hodges Capital Management Inc. acquired a new position in Patterson-UTI Energy in the 1st quarter valued at about $82,000. Hedge funds and other institutional investors own 97.91% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on PTEN. Tudor Pickering lowered Patterson-UTI Energy from a “strong-buy” rating to a “hold” rating in a report on Friday, October 17th. Susquehanna cut their price objective on shares of Patterson-UTI Energy from $8.00 to $7.00 and set a “positive” rating for the company in a research report on Wednesday, September 3rd. Royal Bank Of Canada raised their target price on shares of Patterson-UTI Energy from $7.00 to $8.00 and gave the stock an “outperform” rating in a research note on Friday, October 24th. Stifel Nicolaus dropped their price target on shares of Patterson-UTI Energy from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Friday, July 25th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Patterson-UTI Energy in a report on Wednesday. Three analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Patterson-UTI Energy presently has a consensus rating of “Hold” and a consensus target price of $7.39.

Patterson-UTI Energy Price Performance

Shares of NASDAQ PTEN opened at $5.41 on Friday. The company’s fifty day moving average is $5.82 and its two-hundred day moving average is $5.86. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.44 and a current ratio of 1.64. The firm has a market capitalization of $2.05 billion, a P/E ratio of -15.03 and a beta of 1.22. Patterson-UTI Energy, Inc. has a one year low of $5.10 and a one year high of $9.57.

Patterson-UTI Energy (NASDAQ:PTEN) last announced its quarterly earnings data on Tuesday, March 21st. The oil and gas company reported ($0.38) EPS for the quarter. Patterson-UTI Energy had a negative net margin of 2.81% and a negative return on equity of 2.65%. The company had revenue of $191.70 million during the quarter. Analysts forecast that Patterson-UTI Energy, Inc. will post -0.1 EPS for the current fiscal year.

Patterson-UTI Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $0.32 annualized dividend and a dividend yield of 5.9%. Patterson-UTI Energy’s payout ratio is -88.89%.

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.