State of Alaska Department of Revenue acquired a new stake in shares of Patterson-UTI Energy, Inc. (NASDAQ:PTEN) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 12,300 shares of the oil and gas company’s stock, valued at approximately $283,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. lifted its holdings in Patterson-UTI Energy by 11.7% during the 2nd quarter. PNC Financial Services Group Inc. now owns 10,392 shares of the oil and gas company’s stock worth $210,000 after buying an additional 1,089 shares during the period. Northern Trust Corp lifted its holdings in Patterson-UTI Energy by 4.7% during the 2nd quarter. Northern Trust Corp now owns 1,576,320 shares of the oil and gas company’s stock worth $31,826,000 after buying an additional 71,331 shares during the period. Parametric Portfolio Associates LLC lifted its holdings in Patterson-UTI Energy by 1.3% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 390,835 shares of the oil and gas company’s stock worth $7,891,000 after buying an additional 4,926 shares during the period. Voya Investment Management LLC lifted its holdings in Patterson-UTI Energy by 369.0% during the 2nd quarter. Voya Investment Management LLC now owns 230,229 shares of the oil and gas company’s stock worth $4,648,000 after buying an additional 181,143 shares during the period. Finally, Balyasny Asset Management LLC lifted its holdings in Patterson-UTI Energy by 132.7% during the 2nd quarter. Balyasny Asset Management LLC now owns 144,880 shares of the oil and gas company’s stock worth $2,925,000 after buying an additional 82,632 shares during the period. 98.46% of the stock is currently owned by institutional investors.

In related news, Director Tiffany J. Thom sold 2,574 shares of the business’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $23.08, for a total value of $59,407.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 4.60% of the company’s stock.

Several brokerages have commented on PTEN. Royal Bank of Canada set a $34.00 target price on Patterson-UTI Energy and gave the stock a “buy” rating in a report on Monday. ValuEngine downgraded Patterson-UTI Energy from a “hold” rating to a “sell” rating in a report on Friday, February 2nd. Cowen set a $24.00 target price on Patterson-UTI Energy and gave the stock a “hold” rating in a report on Wednesday, October 18th. Howard Weil raised Patterson-UTI Energy from a “sector perform” rating to a “sector outperform” rating in a report on Friday, January 12th. Finally, Deutsche Bank initiated coverage on Patterson-UTI Energy in a research note on Tuesday, October 10th. They issued a “buy” rating and a $25.00 price objective on the stock. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $27.42.

Patterson-UTI Energy, Inc. (NASDAQ:PTEN) opened at $22.96 on Wednesday. The stock has a market capitalization of $5,110.00, a PE ratio of -14.81 and a beta of 1.02. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.23 and a quick ratio of 1.16. Patterson-UTI Energy, Inc. has a 52 week low of $14.83 and a 52 week high of $29.76.

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Patterson-UTI Energy Company Profile

Patterson-UTI Energy, Inc is an oilfield services company. The Company owns and operates a fleet of land-based drilling rigs and a fleet of pressure pumping equipment in the United States. The Company’s segments include Contract Drilling, Pressure Pumping and Other operations. The Contract Drilling segment markets its contract drilling services to independent and other oil and natural gas operators.

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

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