Yousif Capital Management LLC Purchases 2,492 Shares of Patterson-UTI Energy, Inc. $PTEN

Yousif Capital Management LLC raised its position in Patterson-UTI Energy, Inc. (NASDAQ:PTEN) by 1.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 139,341 shares of the oil and gas company’s stock after purchasing an additional 2,492 shares during the period. Yousif Capital Management LLC’s holdings in Patterson-UTI Energy were worth $826,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. ARGA Investment Management LP boosted its holdings in Patterson-UTI Energy by 25.2% in the 1st quarter. ARGA Investment Management LP now owns 12,784,573 shares of the oil and gas company’s stock valued at $105,089,000 after purchasing an additional 2,569,713 shares during the period. American Century Companies Inc. boosted its holdings in Patterson-UTI Energy by 21.6% in the 1st quarter. American Century Companies Inc. now owns 11,717,431 shares of the oil and gas company’s stock valued at $96,317,000 after purchasing an additional 2,080,960 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Patterson-UTI Energy by 4.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,747,463 shares of the oil and gas company’s stock valued at $39,024,000 after purchasing an additional 220,422 shares during the period. Nuveen LLC purchased a new stake in shares of Patterson-UTI Energy during the 1st quarter valued at $22,563,000. Finally, Edmond DE Rothschild Holding S.A. raised its position in shares of Patterson-UTI Energy by 6.0% during the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 2,225,000 shares of the oil and gas company’s stock valued at $18,290,000 after buying an additional 125,000 shares in the last quarter. 97.91% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PTEN. Stifel Nicolaus lowered their price objective on shares of Patterson-UTI Energy from $12.00 to $10.00 and set a “buy” rating on the stock in a research report on Friday, July 25th. Susquehanna lowered their price objective on shares of Patterson-UTI Energy from $8.00 to $7.00 and set a “positive” rating on the stock in a research report on Wednesday, September 3rd. Zacks Research upgraded shares of Patterson-UTI Energy from a “strong sell” rating to a “hold” rating in a research report on Thursday, September 25th. Tudor Pickering cut shares of Patterson-UTI Energy from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 17th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Patterson-UTI Energy in a research report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Patterson-UTI Energy has an average rating of “Hold” and a consensus price target of $7.80.

Patterson-UTI Energy Price Performance

Shares of NASDAQ:PTEN opened at $6.08 on Thursday. The company’s fifty day moving average is $5.59 and its 200 day moving average is $5.83. Patterson-UTI Energy, Inc. has a 52 week low of $5.10 and a 52 week high of $9.57. The stock has a market cap of $2.34 billion, a PE ratio of -2.20 and a beta of 1.23. 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 (NASDAQ:PTEN) last released its quarterly earnings data on Tuesday, March 21st. The oil and gas company reported ($0.38) earnings per share (EPS) for the quarter. Patterson-UTI Energy had a negative net margin of 21.49% and a negative return on equity of 1.94%. The firm had revenue of $191.70 million during the quarter. Research analysts anticipate that Patterson-UTI Energy, Inc. will post -0.1 earnings per share for the current year.

Patterson-UTI Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be given a $0.08 dividend. The ex-dividend date is Monday, December 1st. This represents a $0.32 dividend on an annualized basis and a dividend yield of 5.3%. Patterson-UTI Energy’s payout ratio is presently -11.59%.

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.