Patterson-UTI Energy, Inc. (NASDAQ:PTEN) Director Janeen S. Judah sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $9.05, for a total value of $45,250.00. Following the transaction, the director now owns 27,023 shares in the company, valued at approximately $244,558.15. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Shares of PTEN stock traded up $0.01 during midday trading on Friday, hitting $8.97. The company had a trading volume of 3,212,795 shares, compared to its average volume of 3,949,191. The company’s 50 day simple moving average is $9.41 and its 200 day simple moving average is $12.05. Patterson-UTI Energy, Inc. has a 52-week low of $7.87 and a 52-week high of $18.39. The stock has a market cap of $1.82 billion, a price-to-earnings ratio of -26.38 and a beta of 1.52. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.91 and a quick ratio of 1.76.

Patterson-UTI Energy (NASDAQ:PTEN) last announced its earnings results on Thursday, July 25th. The oil and gas company reported ($0.17) earnings per share for the quarter, beating the consensus estimate of ($0.21) by $0.04. Patterson-UTI Energy had a negative return on equity of 2.71% and a negative net margin of 11.64%. The company had revenue of $675.77 million for the quarter, compared to the consensus estimate of $670.28 million. During the same period last year, the business posted ($0.05) EPS. The company’s revenue was down 20.9% on a year-over-year basis. Analysts anticipate that Patterson-UTI Energy, Inc. will post -0.91 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Thursday, September 5th will be paid a $0.04 dividend. The ex-dividend date is Wednesday, September 4th. This represents a $0.16 annualized dividend and a dividend yield of 1.78%. Patterson-UTI Energy’s dividend payout ratio (DPR) is currently -47.06%.

A number of research firms recently issued reports on PTEN. Morgan Stanley dropped their price target on Patterson-UTI Energy from $18.00 to $17.00 and set an “overweight” rating on the stock in a research note on Friday, July 12th. ValuEngine upgraded Patterson-UTI Energy from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Credit Suisse Group dropped their price target on Patterson-UTI Energy from $14.00 to $11.00 and set a “neutral” rating on the stock in a research note on Friday, July 26th. Jefferies Financial Group downgraded Patterson-UTI Energy from a “buy” rating to a “hold” rating and dropped their price target for the stock from $14.50 to $11.50 in a research note on Friday, August 2nd. Finally, Royal Bank of Canada set a $17.00 price target on Patterson-UTI Energy and gave the stock a “buy” rating in a research note on Friday, July 26th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $14.43.

Hedge funds have recently made changes to their positions in the business. Parallel Advisors LLC lifted its holdings in shares of Patterson-UTI Energy by 129.0% in the 1st quarter. Parallel Advisors LLC now owns 2,382 shares of the oil and gas company’s stock valued at $33,000 after buying an additional 1,342 shares during the period. Quantamental Technologies LLC lifted its holdings in shares of Patterson-UTI Energy by 173.2% in the 2nd quarter. Quantamental Technologies LLC now owns 6,041 shares of the oil and gas company’s stock valued at $70,000 after buying an additional 3,830 shares during the period. Machina Capital S.A.S. lifted its holdings in shares of Patterson-UTI Energy by 1,559.1% in the 2nd quarter. Machina Capital S.A.S. now owns 6,570 shares of the oil and gas company’s stock valued at $76,000 after buying an additional 6,174 shares during the period. KBC Group NV acquired a new stake in shares of Patterson-UTI Energy in the 2nd quarter valued at approximately $78,000. Finally, M&T Bank Corp acquired a new stake in shares of Patterson-UTI Energy in the 2nd quarter valued at approximately $122,000. Institutional investors own 99.60% of the company’s stock.

Patterson-UTI Energy Company Profile

Patterson-UTI Energy, Inc, through its subsidiaries, provides onshore contract drilling services to oil and natural gas operators in the United States and Canada. It operates through three segments: Contract Drilling Services, Pressure Pumping Services, and Directional Drilling Services. The Contract Drilling segment markets its contract drilling services primarily in west Texas and southeastern New Mexico, north central and east Texas, northern Louisiana, Colorado, Wyoming, North Dakota, south Texas, western Oklahoma, Pennsylvania, Ohio, West Virginia, and western Canada.

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