Thompson Siegel & Walmsley LLC Has $6.85 Million Stake in Patterson-UTI Energy, Inc. $PTEN

Thompson Siegel & Walmsley LLC lessened its position in Patterson-UTI Energy, Inc. (NASDAQ:PTEN) by 4.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,121,800 shares of the oil and gas company’s stock after selling 49,067 shares during the period. Thompson Siegel & Walmsley LLC’s holdings in Patterson-UTI Energy were worth $6,854,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Quarry LP boosted its stake in shares of Patterson-UTI Energy by 360.3% during the 3rd quarter. Quarry LP now owns 4,934 shares of the oil and gas company’s stock worth $26,000 after acquiring an additional 3,862 shares during the period. First Horizon Corp raised its stake in Patterson-UTI Energy by 58.5% in the 4th quarter. First Horizon Corp now owns 5,554 shares of the oil and gas company’s stock valued at $34,000 after acquiring an additional 2,049 shares during the period. Aster Capital Management DIFC Ltd acquired a new position in shares of Patterson-UTI Energy in the third quarter valued at $37,000. Torren Management LLC acquired a new position in shares of Patterson-UTI Energy in the fourth quarter valued at $44,000. Finally, EverSource Wealth Advisors LLC raised its position in shares of Patterson-UTI Energy by 494.6% in the second quarter. EverSource Wealth Advisors LLC now owns 8,621 shares of the oil and gas company’s stock valued at $51,000 after purchasing an additional 7,171 shares during the period. 97.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently commented on PTEN. Morgan Stanley lifted their target price on shares of Patterson-UTI Energy from $7.00 to $10.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 15th. Royal Bank Of Canada increased their price target on shares of Patterson-UTI Energy from $14.00 to $15.00 and gave the company an “outperform” rating in a report on Friday. KeyCorp upgraded shares of Patterson-UTI Energy to an “overweight” rating in a research report on Wednesday, May 27th. Capital One Financial raised Patterson-UTI Energy from an “equal weight” rating to an “overweight” rating and set a $12.00 price target for the company in a report on Monday, April 20th. Finally, The Goldman Sachs Group increased their price objective on Patterson-UTI Energy from $9.00 to $11.00 and gave the stock a “buy” rating in a research report on Wednesday, April 15th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $12.10.

Insider Activity at Patterson-UTI Energy

In related news, COO James Michael Holcomb sold 150,000 shares of the company’s stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $11.47, for a total transaction of $1,720,500.00. Following the completion of the transaction, the chief operating officer directly owned 421,523 shares in the company, valued at $4,834,868.81. This represents a 26.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Cesar Jaime sold 10,000 shares of the stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $12.29, for a total transaction of $122,900.00. Following the completion of the transaction, the director directly owned 77,462 shares of the company’s stock, valued at approximately $952,007.98. The trade was a 11.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 958,949 shares of company stock valued at $11,107,535 in the last quarter. 2.20% of the stock is owned by company insiders.

Patterson-UTI Energy Stock Up 2.9%

NASDAQ PTEN opened at $11.53 on Tuesday. The business has a fifty day moving average price of $11.26 and a two-hundred day moving average price of $8.68. The stock has a market capitalization of $4.38 billion, a PE ratio of -37.19 and a beta of 0.61. Patterson-UTI Energy, Inc. has a fifty-two week low of $5.10 and a fifty-two week high of $13.08. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.84 and a quick ratio of 1.63.

Patterson-UTI Energy (NASDAQ:PTEN) last announced its quarterly earnings data on Wednesday, April 22nd. The oil and gas company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.04. The business had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.11 billion. Patterson-UTI Energy had a negative return on equity of 2.32% and a negative net margin of 2.56%.The firm’s quarterly revenue was down 12.7% on a year-over-year basis. Equities analysts expect that Patterson-UTI Energy, Inc. will post -0.16 earnings per share for the current fiscal year.

Patterson-UTI Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $0.40 annualized dividend and a dividend yield of 3.5%. Patterson-UTI Energy’s payout ratio is -129.03%.

Patterson-UTI Energy Profile

Patterson-UTI Energy provides a comprehensive suite of onshore contract drilling and pressure pumping services to exploration and production companies in North America. The company’s core offerings include land-based drilling rigs, directional drilling, hydraulic fracturing services, downhole tool rental and well-servicing equipment. By integrating drilling and completion capabilities, Patterson-UTI Energy offers operators a streamlined solution designed to improve operational efficiency and well performance.

Headquartered in Houston, Texas, Patterson-UTI Energy traces its origins to its founding in 1978 and was later incorporated in Delaware in 1996.