MassMutual Private Wealth & Trust FSB grew its position in shares of Patterson-UTI Energy, Inc. (NASDAQ:PTEN – Free Report) by 31.4% in the fourth quarter, HoldingsChannel reports. The firm owned 5,678 shares of the oil and gas company’s stock after buying an additional 1,358 shares during the quarter. MassMutual Private Wealth & Trust FSB’s holdings in Patterson-UTI Energy were worth $47,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in PTEN. Intech Investment Management LLC bought a new position in Patterson-UTI Energy during the second quarter valued at approximately $626,000. Sei Investments Co. boosted its position in shares of Patterson-UTI Energy by 26.7% during the 2nd quarter. Sei Investments Co. now owns 687,346 shares of the oil and gas company’s stock valued at $7,121,000 after acquiring an additional 144,660 shares during the last quarter. Evergreen Capital Management LLC boosted its position in shares of Patterson-UTI Energy by 107.7% during the 2nd quarter. Evergreen Capital Management LLC now owns 21,649 shares of the oil and gas company’s stock valued at $224,000 after acquiring an additional 11,226 shares during the last quarter. Bank of Montreal Can grew its holdings in shares of Patterson-UTI Energy by 1.2% in the second quarter. Bank of Montreal Can now owns 441,081 shares of the oil and gas company’s stock valued at $4,574,000 after purchasing an additional 5,245 shares in the last quarter. Finally, Xponance Inc. increased its position in Patterson-UTI Energy by 18.0% in the second quarter. Xponance Inc. now owns 25,302 shares of the oil and gas company’s stock worth $262,000 after purchasing an additional 3,851 shares during the last quarter. 97.91% of the stock is owned by institutional investors.
Patterson-UTI Energy Trading Down 3.0 %
NASDAQ PTEN opened at $8.75 on Friday. The stock has a market cap of $3.41 billion, a PE ratio of -4.00 and a beta of 2.09. Patterson-UTI Energy, Inc. has a 12 month low of $7.15 and a 12 month high of $12.65. The company’s 50-day moving average price is $8.28 and its 200-day moving average price is $8.59. The company has a current ratio of 1.52, a quick ratio of 1.32 and a debt-to-equity ratio of 0.35.
Insiders Place Their Bets
Analyst Upgrades and Downgrades
PTEN has been the subject of several research reports. Stifel Nicolaus lowered their price objective on shares of Patterson-UTI Energy from $14.00 to $13.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Royal Bank of Canada dropped their price target on Patterson-UTI Energy from $12.00 to $11.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. StockNews.com downgraded Patterson-UTI Energy from a “hold” rating to a “sell” rating in a research report on Saturday, October 12th. The Goldman Sachs Group upgraded Patterson-UTI Energy from a “neutral” rating to a “buy” rating and dropped their target price for the stock from $11.00 to $10.00 in a report on Friday, December 13th. Finally, Raymond James lowered Patterson-UTI Energy from a “strong-buy” rating to a “market perform” rating in a report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $11.63.
Get Our Latest Stock Analysis on PTEN
Patterson-UTI Energy 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.
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