Patterson-UTI Energy, Inc. (NASDAQ:PTEN) Shares Purchased by Pacer Advisors Inc.

Pacer Advisors Inc. raised its holdings in Patterson-UTI Energy, Inc. (NASDAQ:PTEN) by 35.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,972,894 shares of the oil and gas company’s stock after purchasing an additional 5,275,525 shares during the quarter. Pacer Advisors Inc. owned 5.12% of Patterson-UTI Energy worth $152,793,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Intech Investment Management LLC lifted its stake in Patterson-UTI Energy by 185.2% in the 3rd quarter. Intech Investment Management LLC now owns 172,384 shares of the oil and gas company’s stock valued at $1,319,000 after buying an additional 111,939 shares in the last quarter. Advisors Asset Management Inc. boosted its position in Patterson-UTI Energy by 6.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 46,945 shares of the oil and gas company’s stock valued at $359,000 after buying an additional 2,730 shares during the last quarter. Prospera Private Wealth LLC purchased a new position in Patterson-UTI Energy in the 3rd quarter valued at about $153,000. Swiss National Bank boosted its position in Patterson-UTI Energy by 3.1% in the 3rd quarter. Swiss National Bank now owns 744,988 shares of the oil and gas company’s stock valued at $5,699,000 after buying an additional 22,500 shares during the last quarter. Finally, Thrivent Financial for Lutherans lifted its position in shares of Patterson-UTI Energy by 9.4% during the third quarter. Thrivent Financial for Lutherans now owns 280,879 shares of the oil and gas company’s stock worth $2,149,000 after purchasing an additional 24,107 shares during the last quarter. Hedge funds and other institutional investors own 97.91% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Barclays dropped their price target on shares of Patterson-UTI Energy from $14.00 to $12.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Citigroup decreased their target price on shares of Patterson-UTI Energy from $11.00 to $10.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. Susquehanna dropped their target price on shares of Patterson-UTI Energy from $13.00 to $10.00 and set a “positive” rating on the stock in a report on Friday, October 11th. StockNews.com cut shares of Patterson-UTI Energy from a “hold” rating to a “sell” rating in a research note on Saturday, October 12th. Finally, Morgan Stanley decreased their price objective on shares of Patterson-UTI Energy from $12.00 to $10.00 and set an “equal weight” rating on the stock in a research note on Monday, September 16th. One research analyst has rated the stock with a sell rating, three have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $11.88.

Patterson-UTI Energy Trading Up 0.2 %

PTEN stock opened at $8.13 on Thursday. The company has a current ratio of 1.52, a quick ratio of 1.32 and a debt-to-equity ratio of 0.35. Patterson-UTI Energy, Inc. has a twelve month low of $7.38 and a twelve month high of $12.65. The business’s fifty day simple moving average is $8.08 and its two-hundred day simple moving average is $9.31.

Patterson-UTI Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 3.94%. The ex-dividend date of this dividend is Monday, December 2nd. Patterson-UTI Energy’s dividend payout ratio (DPR) is presently -14.61%.

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.