Patterson-UTI Energy, Inc. (PTEN) Position Held by LMR Partners LLP
LMR Partners LLP continued to hold its stake in shares of Patterson-UTI Energy, Inc. (NASDAQ:PTEN) during the second quarter, Holdings Channel reports. The institutional investor owned 200,000 shares of the oil and gas company’s stock at the end of the second quarter. LMR Partners LLP’s holdings in Patterson-UTI Energy were worth $4,038,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Renaissance Technologies LLC increased its stake in shares of Patterson-UTI Energy by 158.6% in the fourth quarter. Renaissance Technologies LLC now owns 34,238 shares of the oil and gas company’s stock worth $922,000 after buying an additional 21,000 shares during the period. Creative Planning increased its stake in shares of Patterson-UTI Energy by 7,521.7% in the first quarter. Creative Planning now owns 37,575 shares of the oil and gas company’s stock worth $912,000 after buying an additional 37,082 shares during the period. Capstone Asset Management Co. increased its stake in shares of Patterson-UTI Energy by 7.3% in the first quarter. Capstone Asset Management Co. now owns 13,494 shares of the oil and gas company’s stock worth $327,000 after buying an additional 920 shares during the period. Viking Fund Management LLC increased its stake in shares of Patterson-UTI Energy by 4.8% in the first quarter. Viking Fund Management LLC now owns 440,000 shares of the oil and gas company’s stock worth $10,679,000 after buying an additional 20,000 shares during the period. Finally, Louisiana State Employees Retirement System increased its stake in shares of Patterson-UTI Energy by 14.8% in the first quarter. Louisiana State Employees Retirement System now owns 42,000 shares of the oil and gas company’s stock worth $1,019,000 after buying an additional 5,400 shares during the period. 86.12% of the stock is owned by institutional investors.
Shares of Patterson-UTI Energy, Inc. (NASDAQ:PTEN) opened at 16.64 on Tuesday. The stock’s market cap is $3.52 billion. Patterson-UTI Energy, Inc. has a 52 week low of $16.61 and a 52 week high of $29.76. The stock’s 50 day moving average price is $19.49 and its 200 day moving average price is $22.84.
Patterson-UTI Energy (NASDAQ:PTEN) last posted its quarterly earnings data on Thursday, July 27th. The oil and gas company reported ($0.21) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.30) by $0.09. Patterson-UTI Energy had a negative net margin of 23.78% and a negative return on equity of 10.03%. The business had revenue of $579 million for the quarter, compared to analyst estimates of $556.47 million. During the same quarter last year, the business earned ($0.58) earnings per share. The business’s revenue for the quarter was up 198.5% on a year-over-year basis. Equities research analysts anticipate that Patterson-UTI Energy, Inc. will post ($0.91) EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 21st. Investors of record on Thursday, September 7th will be paid a dividend of $0.02 per share. The ex-dividend date is Wednesday, September 6th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.48%. Patterson-UTI Energy’s dividend payout ratio is presently -4.06%.
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PTEN has been the subject of a number of recent analyst reports. Jefferies Group LLC set a $35.00 price target on Patterson-UTI Energy and gave the stock a “buy” rating in a report on Monday, April 24th. Zacks Investment Research raised Patterson-UTI Energy from a “hold” rating to a “buy” rating and set a $26.00 price target for the company in a report on Thursday, April 27th. Morgan Stanley reaffirmed an “overweight” rating on shares of Patterson-UTI Energy in a report on Friday, April 28th. Deutsche Bank AG decreased their price target on Patterson-UTI Energy from $31.00 to $28.00 and set a “hold” rating for the company in a report on Friday, April 28th. Finally, Capital One Financial Corporation raised Patterson-UTI Energy from an “equal weight” rating to an “overweight” rating in a report on Monday, May 8th. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and fifteen have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $27.38.
About Patterson-UTI Energy
Patterson-UTI Energy, Inc is an oilfield services company. The Company owns and operates a fleet of land-based drilling rigs and a fleet of pressure pumping equipment in the United States. The Company’s segments include Contract Drilling, Pressure Pumping and Other operations. The Contract Drilling segment markets its contract drilling services to independent and other oil and natural gas operators.
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