Hood River Capital Management LLC lifted its stake in shares of Patterson-UTI Energy, Inc. (NASDAQ:PTEN) by 100.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 954,253 shares of the oil and gas company’s stock after buying an additional 477,823 shares during the period. Patterson-UTI Energy comprises about 1.3% of Hood River Capital Management LLC’s holdings, making the stock its 27th largest position. Hood River Capital Management LLC’s holdings in Patterson-UTI Energy were worth $21,957,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in PTEN. Alyeska Investment Group L.P. purchased a new position in shares of Patterson-UTI Energy during the third quarter valued at about $67,664,000. Fuller & Thaler Asset Management Inc. increased its position in shares of Patterson-UTI Energy by 285.0% during the third quarter. Fuller & Thaler Asset Management Inc. now owns 2,722,481 shares of the oil and gas company’s stock valued at $57,009,000 after buying an additional 2,015,336 shares during the period. Ameriprise Financial Inc. increased its position in shares of Patterson-UTI Energy by 31.5% during the third quarter. Ameriprise Financial Inc. now owns 5,567,435 shares of the oil and gas company’s stock valued at $116,581,000 after buying an additional 1,335,098 shares during the period. Bank of New York Mellon Corp increased its position in shares of Patterson-UTI Energy by 33.9% during the third quarter. Bank of New York Mellon Corp now owns 4,391,581 shares of the oil and gas company’s stock valued at $91,959,000 after buying an additional 1,111,289 shares during the period. Finally, Rubric Capital Management LP purchased a new position in shares of Patterson-UTI Energy during the third quarter valued at about $16,605,000. Institutional investors own 98.46% of the company’s stock.

In other news, Director Tiffany J. Thom sold 2,574 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $23.08, for a total transaction of $59,407.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 4.60% of the stock is currently owned by corporate insiders.

Shares of Patterson-UTI Energy, Inc. (NASDAQ:PTEN) opened at $18.04 on Friday. The company has a quick ratio of 1.16, a current ratio of 1.23 and a debt-to-equity ratio of 0.17. Patterson-UTI Energy, Inc. has a fifty-two week low of $14.83 and a fifty-two week high of $29.76.

Patterson-UTI Energy (NASDAQ:PTEN) last announced its quarterly earnings data on Thursday, February 8th. The oil and gas company reported ($0.10) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.08) by ($0.02). The business had revenue of $787.33 million during the quarter, compared to analysts’ expectations of $764.84 million. Patterson-UTI Energy had a negative return on equity of 5.07% and a net margin of 0.25%. Patterson-UTI Energy’s revenue for the quarter was up 218.9% compared to the same quarter last year. During the same quarter last year, the company posted ($0.53) EPS. analysts forecast that Patterson-UTI Energy, Inc. will post 0.05 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 22nd. Shareholders of record on Thursday, March 8th will be issued a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date is Wednesday, March 7th. Patterson-UTI Energy’s dividend payout ratio (DPR) is presently -57.14%.

Several equities analysts recently issued reports on PTEN shares. BidaskClub upgraded shares of Patterson-UTI Energy from a “hold” rating to a “buy” rating in a research report on Saturday, January 13th. TheStreet upgraded shares of Patterson-UTI Energy from a “d+” rating to a “c-” rating in a research report on Monday, December 4th. Scotiabank upgraded shares of Patterson-UTI Energy from a “sector perform” rating to a “sector outperform” rating in a research report on Friday, January 12th. Credit Suisse Group boosted their price target on shares of Patterson-UTI Energy from $17.00 to $21.00 and gave the company a “neutral” rating in a research report on Friday, October 27th. Finally, Howard Weil upgraded shares of Patterson-UTI Energy from a “sector perform” rating to a “sector outperform” rating in a research report on Friday, January 12th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty have assigned a buy rating to the company’s stock. Patterson-UTI Energy has an average rating of “Buy” and a consensus price target of $26.84.

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Patterson-UTI Energy 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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