Nisa Investment Advisors LLC Reduces Holdings in Patterson-UTI Energy, Inc. (NASDAQ:PTEN)

Nisa Investment Advisors LLC lowered its stake in shares of Patterson-UTI Energy, Inc. (NASDAQ:PTENFree Report) by 74.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 106,591 shares of the oil and gas company’s stock after selling 308,218 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Patterson-UTI Energy were worth $880,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of PTEN. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Patterson-UTI Energy by 31.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 5,678 shares of the oil and gas company’s stock worth $47,000 after acquiring an additional 1,358 shares during the period. Somerset Trust Co boosted its position in shares of Patterson-UTI Energy by 57.4% during the fourth quarter. Somerset Trust Co now owns 24,175 shares of the oil and gas company’s stock valued at $200,000 after purchasing an additional 8,814 shares in the last quarter. Wedge Capital Management L L P NC grew its stake in Patterson-UTI Energy by 16.5% in the fourth quarter. Wedge Capital Management L L P NC now owns 360,942 shares of the oil and gas company’s stock worth $2,981,000 after purchasing an additional 51,216 shares during the period. International Assets Investment Management LLC raised its holdings in Patterson-UTI Energy by 3,991.5% in the fourth quarter. International Assets Investment Management LLC now owns 25,040 shares of the oil and gas company’s stock worth $207,000 after purchasing an additional 24,428 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its position in Patterson-UTI Energy by 12.1% during the third quarter. Principal Financial Group Inc. now owns 5,167,871 shares of the oil and gas company’s stock valued at $39,535,000 after buying an additional 559,859 shares during the period. 97.91% of the stock is owned by institutional investors.

Patterson-UTI Energy Price Performance

Shares of PTEN opened at $8.40 on Tuesday. The firm has a fifty day simple moving average of $8.28 and a two-hundred day simple moving average of $8.56. The firm has a market cap of $3.28 billion, a PE ratio of -3.84 and a beta of 2.09. 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 1-year low of $7.15 and a 1-year high of $12.65.

Analyst Ratings Changes

Several research analysts recently issued reports on PTEN shares. Royal Bank of Canada decreased their price target on shares of 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. Stifel Nicolaus reduced their price target on Patterson-UTI Energy from $14.00 to $13.00 and set a “buy” rating for the company in a report on Monday, January 6th. Susquehanna cut their price objective on shares of Patterson-UTI Energy from $13.00 to $10.00 and set a “positive” rating on the stock in a research report on Friday, October 11th. Barclays decreased their target price on shares of Patterson-UTI Energy from $14.00 to $12.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Finally, The Goldman Sachs Group raised shares of Patterson-UTI Energy from a “neutral” rating to a “buy” rating and reduced their price target for the company from $11.00 to $10.00 in a research report on Friday, December 13th. One analyst has rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $11.63.

View Our Latest Stock Analysis on Patterson-UTI Energy

Insider Activity at Patterson-UTI Energy

In other Patterson-UTI Energy news, Director James Carl Stewart sold 80,000 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $7.36, for a total value of $588,800.00. Following the transaction, the director now directly owns 32,438 shares of the company’s stock, valued at approximately $238,743.68. This trade represents a 71.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.30% of the stock is owned by company insiders.

About Patterson-UTI Energy

(Free Report)

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

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