Commonwealth of Pennsylvania Public School Empls Retrmt SYS Sells 21,108 Shares of Patterson-UTI Energy, Inc. (NASDAQ:PTEN)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS reduced its stake in Patterson-UTI Energy, Inc. (NASDAQ:PTENFree Report) by 9.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 214,288 shares of the oil and gas company’s stock after selling 21,108 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS owned 0.10% of Patterson-UTI Energy worth $2,966,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. C M Bidwell & Associates Ltd. increased its position in Patterson-UTI Energy by 8.3% during the second quarter. C M Bidwell & Associates Ltd. now owns 8,872 shares of the oil and gas company’s stock worth $106,000 after acquiring an additional 680 shares during the period. CWM LLC increased its holdings in Patterson-UTI Energy by 40.9% in the 3rd quarter. CWM LLC now owns 2,725 shares of the oil and gas company’s stock valued at $38,000 after buying an additional 791 shares during the period. Gamco Investors INC. ET AL increased its holdings in Patterson-UTI Energy by 2.3% in the 1st quarter. Gamco Investors INC. ET AL now owns 40,572 shares of the oil and gas company’s stock valued at $628,000 after buying an additional 906 shares during the period. Ellevest Inc. increased its holdings in Patterson-UTI Energy by 3.0% in the 2nd quarter. Ellevest Inc. now owns 33,694 shares of the oil and gas company’s stock valued at $403,000 after buying an additional 996 shares during the period. Finally, Captrust Financial Advisors increased its holdings in Patterson-UTI Energy by 4.5% in the 3rd quarter. Captrust Financial Advisors now owns 23,229 shares of the oil and gas company’s stock valued at $271,000 after buying an additional 1,004 shares during the period. 97.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have commented on PTEN shares. Barclays decreased their target price on shares of Patterson-UTI Energy from $18.00 to $16.00 and set an “overweight” rating on the stock in a report on Tuesday, November 14th. Royal Bank of Canada reduced their price target on shares of Patterson-UTI Energy from $19.00 to $17.00 and set an “outperform” rating on the stock in a research note on Thursday, November 9th. Benchmark downgraded shares of Patterson-UTI Energy from a “buy” rating to a “hold” rating in a research note on Tuesday, January 16th. Susquehanna reduced their price target on shares of Patterson-UTI Energy from $18.00 to $16.00 and set a “positive” rating on the stock in a research note on Thursday, November 9th. Finally, Piper Sandler cut their target price on shares of Patterson-UTI Energy from $20.00 to $19.00 and set an “overweight” rating on the stock in a research report on Monday, November 13th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $16.82.

Get Our Latest Research Report on PTEN

Patterson-UTI Energy Stock Down 0.4 %

Shares of NASDAQ PTEN opened at $10.46 on Tuesday. The company has a market capitalization of $4.36 billion, a P/E ratio of 7.92, a price-to-earnings-growth ratio of 0.23 and a beta of 2.24. Patterson-UTI Energy, Inc. has a 52-week low of $9.70 and a 52-week high of $16.17. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.19 and a current ratio of 1.37. The company’s 50 day moving average price is $10.69 and its 200-day moving average price is $12.66.

Insider Transactions at Patterson-UTI Energy

In other news, Director Tiffany Thom Cepak sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $11.78, for a total value of $176,700.00. Following the transaction, the director now owns 107,081 shares in the company, valued at approximately $1,261,414.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.40% of the company’s stock.

Patterson-UTI Energy Company Profile

(Free Report)

Patterson-UTI Energy, Inc, through its subsidiaries, provides contract drilling services to oil and natural gas operators in the United States and internationally. It operates through three segments: Contract Drilling Services, Pressure Pumping Services, and Directional Drilling Services. The Contract Drilling Services segment markets its contract drilling services primarily in west Texas, Appalachia, Rockies, Oklahoma, South Texas, East Texas, and Colombia.

See Also

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

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