Quantbot Technologies LP Has $2.69 Million Holdings in Patterson-UTI Energy, Inc. (NASDAQ:PTEN)

Quantbot Technologies LP increased its position in Patterson-UTI Energy, Inc. (NASDAQ:PTEN) by 11.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 350,972 shares of the oil and gas company’s stock after buying an additional 34,762 shares during the period. Quantbot Technologies LP owned 0.09% of Patterson-UTI Energy worth $2,685,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Price T Rowe Associates Inc. MD lifted its position in shares of Patterson-UTI Energy by 6.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 203,343 shares of the oil and gas company’s stock worth $2,428,000 after buying an additional 12,841 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in Patterson-UTI Energy by 17.1% in the 1st quarter. Janus Henderson Group PLC now owns 184,024 shares of the oil and gas company’s stock worth $2,195,000 after purchasing an additional 26,916 shares during the last quarter. EMC Capital Management bought a new stake in Patterson-UTI Energy during the first quarter worth approximately $262,000. Verity Asset Management Inc. grew its holdings in Patterson-UTI Energy by 44.2% during the first quarter. Verity Asset Management Inc. now owns 54,367 shares of the oil and gas company’s stock valued at $649,000 after purchasing an additional 16,665 shares during the last quarter. Finally, Boston Partners raised its position in shares of Patterson-UTI Energy by 8.4% in the first quarter. Boston Partners now owns 1,915,224 shares of the oil and gas company’s stock valued at $22,679,000 after purchasing an additional 148,521 shares during the period. Institutional investors own 97.91% of the company’s stock.

Patterson-UTI Energy Stock Up 1.4 %

PTEN opened at $8.46 on Thursday. Patterson-UTI Energy, Inc. has a fifty-two week low of $7.38 and a fifty-two week high of $12.65. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.52 and a quick ratio of 1.32. The firm’s fifty day moving average price is $8.11 and its two-hundred day moving average price is $9.23. The company has a market capitalization of $3.30 billion, a P/E ratio of -3.86 and a beta of 2.12.

Patterson-UTI Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders 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 yield of 3.78%. The ex-dividend date of this dividend is Monday, December 2nd. Patterson-UTI Energy’s dividend payout ratio (DPR) is -14.61%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on PTEN shares. Stifel Nicolaus decreased their price objective on shares of Patterson-UTI Energy from $15.00 to $14.00 and set a “buy” rating for the company 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 report on Saturday, October 12th. ATB Capital dropped their price objective on Patterson-UTI Energy from $12.00 to $11.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 4th. Royal Bank of Canada decreased their target price on Patterson-UTI Energy from $12.00 to $11.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Finally, Barclays lowered their target price on Patterson-UTI Energy from $14.00 to $12.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. One investment 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. According to MarketBeat.com, Patterson-UTI Energy presently has a consensus rating of “Moderate Buy” and an average target price of $11.88.

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.