Patterson-UTI Energy, Inc. (NASDAQ:PTEN) CEO William Andrew Hendricks, Jr. Sells 100,000 Shares of Stock

Patterson-UTI Energy, Inc. (NASDAQ:PTENGet Rating) CEO William Andrew Hendricks, Jr. sold 100,000 shares of the stock in a transaction dated Tuesday, May 10th. The shares were sold at an average price of $14.37, for a total value of $1,437,000.00. Following the sale, the chief executive officer now owns 2,201,374 shares of the company’s stock, valued at $31,633,744.38. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

PTEN stock opened at $14.30 on Friday. Patterson-UTI Energy, Inc. has a twelve month low of $6.44 and a twelve month high of $18.77. The company has a quick ratio of 1.23, a current ratio of 1.35 and a debt-to-equity ratio of 0.54. The business has a 50 day moving average of $16.01 and a 200 day moving average of $11.93.

Patterson-UTI Energy (NASDAQ:PTENGet Rating) last posted its quarterly earnings data on Wednesday, April 27th. The oil and gas company reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.08. Patterson-UTI Energy had a negative return on equity of 17.74% and a negative net margin of 35.49%. The company had revenue of $509.80 million during the quarter, compared to analyst estimates of $512.08 million. During the same quarter last year, the company earned ($0.57) EPS. The firm’s revenue for the quarter was up 111.5% on a year-over-year basis. As a group, sell-side analysts expect that Patterson-UTI Energy, Inc. will post -0.07 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 16th. Investors of record on Thursday, June 2nd will be given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date of this dividend is Wednesday, June 1st. Patterson-UTI Energy’s dividend payout ratio (DPR) is presently -5.71%.

A number of institutional investors and hedge funds have recently modified their holdings of PTEN. FMR LLC boosted its stake in Patterson-UTI Energy by 98.8% during the 1st quarter. FMR LLC now owns 313,654 shares of the oil and gas company’s stock valued at $4,397,000 after purchasing an additional 155,911 shares during the last quarter. Morgan Stanley boosted its stake in Patterson-UTI Energy by 69.4% during the 2nd quarter. Morgan Stanley now owns 1,044,062 shares of the oil and gas company’s stock valued at $10,376,000 after purchasing an additional 427,789 shares during the last quarter. Commonwealth Equity Services LLC boosted its stake in Patterson-UTI Energy by 8.2% during the 3rd quarter. Commonwealth Equity Services LLC now owns 20,054 shares of the oil and gas company’s stock valued at $180,000 after purchasing an additional 1,512 shares during the last quarter. SG Americas Securities LLC boosted its stake in Patterson-UTI Energy by 152.1% during the 3rd quarter. SG Americas Securities LLC now owns 32,004 shares of the oil and gas company’s stock valued at $288,000 after purchasing an additional 19,308 shares during the last quarter. Finally, Raymond James & Associates boosted its stake in Patterson-UTI Energy by 19.5% during the 3rd quarter. Raymond James & Associates now owns 54,310 shares of the oil and gas company’s stock valued at $489,000 after purchasing an additional 8,878 shares during the last quarter. Institutional investors and hedge funds own 95.14% of the company’s stock.

A number of research analysts have commented on the company. JPMorgan Chase & Co. upped their price target on Patterson-UTI Energy from $9.00 to $11.00 and gave the company an “underweight” rating in a research report on Tuesday, February 15th. Barclays upped their price target on Patterson-UTI Energy from $16.00 to $20.00 in a research report on Monday, May 2nd. StockNews.com raised Patterson-UTI Energy from a “sell” rating to a “hold” rating in a research report on Thursday. Piper Sandler upped their price target on Patterson-UTI Energy from $20.00 to $21.00 in a research report on Wednesday, May 4th. Finally, Benchmark began coverage on Patterson-UTI Energy in a research report on Monday, April 18th. They set a “buy” rating and a $21.00 price target for the company. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Patterson-UTI Energy presently has an average rating of “Buy” and a consensus price target of $15.61.

Patterson-UTI Energy Company Profile (Get Rating)

Patterson-UTI Energy, Inc, through its subsidiaries, provides onshore contract drilling services to oil and natural gas operators in the United States and internationally. It operates through three segments: Contract Drilling Services, Pressure Pumping Services, and Directional Drilling Services. The Contract Drilling Services segment markets its contract drilling services primarily in west Texas, Appalachia, Rockies, Oklahoma, South Texas, East Texas, and Colombia.

Read More

Insider Buying and Selling by Quarter for Patterson-UTI Energy (NASDAQ:PTEN)

Receive News & Ratings for Patterson-UTI Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Patterson-UTI Energy and related companies with MarketBeat.com's FREE daily email newsletter.