Trade Report: Today, Heartland Advisors Inc. Sold shares of Patterson-UTI Energy, Inc. (PTEN)

Today, Heartland Advisors Inc. Sold shares of Patterson-UTI Energy, Inc. (PTEN)

Heartland Advisors Inc. reduced its stake in Patterson-UTI Energy, Inc. (NASDAQ:PTEN) by 19.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 411,238 shares of the company’s stock after selling 96,929 shares during the period. Heartland Advisors Inc. owned 0.28% of Patterson-UTI Energy worth $9,199,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Geode Capital Management LLC raised its stake in shares of Patterson-UTI Energy by 5.8% in the first quarter. Geode Capital Management LLC now owns 967,804 shares of the company’s stock worth $17,052,000 after buying an additional 53,194 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Patterson-UTI Energy by 300.0% in the first quarter. Renaissance Technologies LLC now owns 842,938 shares of the company’s stock worth $14,853,000 after buying an additional 632,200 shares during the last quarter. Nuveen Asset Management LLC raised its stake in shares of Patterson-UTI Energy by 37.8% in the first quarter. Nuveen Asset Management LLC now owns 94,854 shares of the company’s stock worth $1,671,000 after buying an additional 26,000 shares during the last quarter. Squarepoint Ops LLC purchased a new stake in shares of Patterson-UTI Energy during the first quarter worth approximately $964,000. Finally, BlueMountain Capital Management LLC purchased a new stake in shares of Patterson-UTI Energy during the first quarter worth approximately $756,000.

Shares of Patterson-UTI Energy, Inc. (NASDAQ:PTEN) traded down 2.95% on Friday, reaching $24.02. 664,948 shares of the company traded hands. The firm’s market capitalization is $3.52 billion. The stock has a 50-day moving average price of $23.29 and a 200 day moving average price of $20.73. Patterson-UTI Energy, Inc. has a 1-year low of $10.94 and a 1-year high of $25.01.

Patterson-UTI Energy (NASDAQ:PTEN) last issued its quarterly earnings results on Thursday, October 27th. The company reported ($0.58) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.60) by $0.02. The business had revenue of $206.10 million for the quarter, compared to analysts’ expectations of $205.31 million. Patterson-UTI Energy had a negative net margin of 29.69% and a negative return on equity of 12.24%. The company’s revenue was down 51.2% compared to the same quarter last year. During the same quarter last year, the company posted ($0.26) EPS. Analysts anticipate that Patterson-UTI Energy, Inc. will post ($2.31) EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 22nd. Stockholders of record on Thursday, December 8th will be paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.32%. The ex-dividend date of this dividend is Tuesday, December 6th. Patterson-UTI Energy’s dividend payout ratio is presently -3.92%.

A number of analysts recently commented on the company. Citigroup Inc. decreased their target price on Patterson-UTI Energy from $22.00 to $21.00 and set a “neutral” rating for the company in a research report on Monday, September 12th. Nomura set a $18.00 target price on Patterson-UTI Energy and gave the company a “hold” rating in a research report on Tuesday, August 16th. Jefferies Group reiterated a “buy” rating and set a $29.00 price target on shares of Patterson-UTI Energy in a research note on Wednesday, October 19th. Bank of America Corp. upgraded Patterson-UTI Energy from an “underperform” rating to a “neutral” rating in a research note on Tuesday, August 16th. Finally, Gabelli upgraded Patterson-UTI Energy from a “hold” rating to a “buy” rating and set a $26.00 price target for the company in a research note on Wednesday, September 14th. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. Patterson-UTI Energy has an average rating of “Hold” and an average target price of $20.46.

Patterson-UTI Energy Company Profile

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