Oregon Public Employees Retirement Fund Has $1.21 Million Position in Patterson-UTI Energy, Inc. (NASDAQ:PTEN)

Oregon Public Employees Retirement Fund increased its position in Patterson-UTI Energy, Inc. (NASDAQ:PTEN) by 4.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,970 shares of the oil and gas company’s stock after buying an additional 2,573 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Patterson-UTI Energy were worth $1,211,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Nikko Asset Management Americas Inc. raised its position in Patterson-UTI Energy by 0.7% in the first quarter. Nikko Asset Management Americas Inc. now owns 13,500 shares of the oil and gas company’s stock worth $328,000 after buying an additional 100 shares in the last quarter. Capstone Asset Management Co. raised its position in Patterson-UTI Energy by 3.4% in the second quarter. Capstone Asset Management Co. now owns 13,954 shares of the oil and gas company’s stock worth $282,000 after buying an additional 460 shares in the last quarter. PNC Financial Services Group Inc. raised its position in Patterson-UTI Energy by 7.9% in the first quarter. PNC Financial Services Group Inc. now owns 9,303 shares of the oil and gas company’s stock worth $225,000 after buying an additional 683 shares in the last quarter. LS Investment Advisors LLC raised its position in Patterson-UTI Energy by 7.5% in the first quarter. LS Investment Advisors LLC now owns 10,803 shares of the oil and gas company’s stock worth $262,000 after buying an additional 754 shares in the last quarter. Finally, United Services Automobile Association raised its position in Patterson-UTI Energy by 0.5% in the first quarter. United Services Automobile Association now owns 201,090 shares of the oil and gas company’s stock worth $4,880,000 after buying an additional 1,090 shares in the last quarter. 85.78% of the stock is currently owned by institutional investors.

Shares of Patterson-UTI Energy, Inc. (NASDAQ PTEN) traded down 0.24% during midday trading on Friday, reaching $16.83. The company had a trading volume of 3,615,554 shares. Patterson-UTI Energy, Inc. has a one year low of $16.80 and a one year high of $29.76. The company has a 50-day moving average price of $19.58 and a 200 day moving average price of $22.99. The company’s market capitalization is $3.56 billion.

Patterson-UTI Energy (NASDAQ:PTEN) last posted its quarterly earnings data on Thursday, July 27th. The oil and gas company reported ($0.21) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.30) by $0.09. Patterson-UTI Energy had a negative return on equity of 10.03% and a negative net margin of 23.78%. The company had revenue of $579 million during the quarter, compared to analyst estimates of $556.47 million. During the same quarter last year, the company earned ($0.58) EPS. The firm’s revenue for the quarter was up 198.5% on a year-over-year basis. Equities analysts anticipate that Patterson-UTI Energy, Inc. will post ($0.91) earnings per share 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 given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date is Wednesday, September 6th. Patterson-UTI Energy’s dividend payout ratio (DPR) is presently -4.06%.

COPYRIGHT VIOLATION NOTICE: “Oregon Public Employees Retirement Fund Has $1.21 Million Position in Patterson-UTI Energy, Inc. (NASDAQ:PTEN)” was reported by BNB Daily and is owned by of BNB Daily. If you are reading this piece on another publication, it was illegally copied and republished in violation of US & international trademark and copyright laws. The original version of this piece can be read at https://www.baseball-news-blog.com/2017/08/13/oregon-public-employees-retirement-fund-acquires-2573-shares-of-patterson-uti-energy-inc-nasdaqpten-updated.html.

A number of research firms recently commented on PTEN. Jefferies Group LLC reaffirmed a “buy” rating and issued a $32.00 price objective (down from $35.00) on shares of Patterson-UTI Energy in a research note on Wednesday, May 3rd. Royal Bank Of Canada set a $35.00 price objective on Patterson-UTI Energy and gave the stock a “buy” rating in a research note on Saturday, June 24th. BMO Capital Markets reaffirmed a “hold” rating and issued a $23.00 price objective on shares of Patterson-UTI Energy in a research note on Thursday, July 13th. Seaport Global Securities downgraded Patterson-UTI Energy from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $29.00 to $21.00 in a report on Wednesday, June 21st. Finally, BidaskClub downgraded Patterson-UTI Energy from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 8th. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and fifteen have assigned a buy rating to the company. Patterson-UTI Energy currently has an average rating of “Hold” and a consensus target price of $27.38.

Patterson-UTI Energy Company Profile

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.

Institutional Ownership by Quarter for Patterson-UTI Energy (NASDAQ:PTEN)

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