Edmond DE Rothschild Holding S.A. Grows Stock Position in Patterson-UTI Energy, Inc. (NASDAQ:PTEN)

Edmond DE Rothschild Holding S.A. boosted its stake in shares of Patterson-UTI Energy, Inc. (NASDAQ:PTEN) by 5.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,100,000 shares of the oil and gas company’s stock after acquiring an additional 100,000 shares during the quarter. Edmond DE Rothschild Holding S.A. owned 0.54% of Patterson-UTI Energy worth $17,346,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of PTEN. WFA Asset Management Corp bought a new stake in Patterson-UTI Energy in the fourth quarter valued at approximately $27,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Patterson-UTI Energy by 1,443.0% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,441 shares of the oil and gas company’s stock worth $29,000 after purchasing an additional 3,218 shares during the last quarter. Meeder Asset Management Inc. purchased a new position in shares of Patterson-UTI Energy in the fourth quarter worth $39,000. Smartleaf Asset Management LLC raised its holdings in Patterson-UTI Energy by 43.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 5,660 shares of the oil and gas company’s stock valued at $46,000 after buying an additional 1,717 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its position in 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 valued at $47,000 after buying an additional 1,358 shares during the period. 97.91% of the stock is currently owned by hedge funds and other institutional investors.

Patterson-UTI Energy Trading Down 2.3 %

NASDAQ:PTEN opened at $8.19 on Monday. The company has a market cap of $3.16 billion, a PE ratio of -3.32 and a beta of 1.99. The company has a current ratio of 1.54, a quick ratio of 1.34 and a debt-to-equity ratio of 0.35. The company has a 50 day simple moving average of $8.33 and a two-hundred day simple moving average of $8.20. Patterson-UTI Energy, Inc. has a 12 month low of $7.03 and a 12 month high of $12.65.

Patterson-UTI Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 3.91%. The ex-dividend date was Monday, March 3rd. Patterson-UTI Energy’s payout ratio is currently -12.96%.

Insider Activity at Patterson-UTI Energy

In other Patterson-UTI Energy news, Director Robert Wayne Drummond, Jr. sold 230,000 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $8.89, for a total transaction of $2,044,700.00. Following the completion of the sale, the director now directly owns 1,549,081 shares of the company’s stock, valued at approximately $13,771,330.09. This represents a 12.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William Andrew Hendricks, Jr. purchased 25,000 shares of the company’s stock in a transaction dated Wednesday, March 12th. The shares were acquired at an average price of $7.88 per share, for a total transaction of $197,000.00. Following the purchase, the chief executive officer now directly owns 2,482,592 shares in the company, valued at approximately $19,562,824.96. The trade was a 1.02 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.30% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on PTEN shares. Raymond James cut shares of Patterson-UTI Energy from a “strong-buy” rating to a “market perform” rating in a research report on Monday, January 6th. The Goldman Sachs Group upgraded 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 report on Friday, December 13th. Stifel Nicolaus lowered their price target on 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. Finally, Morgan Stanley cut their price objective on Patterson-UTI Energy from $10.00 to $9.00 and set an “equal weight” rating on the stock in a research report on Thursday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Patterson-UTI Energy has an average rating of “Moderate Buy” and a consensus price target of $11.54.

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.