Cortina Asset Management LLC Boosts Position in Patterson-UTI Energy, Inc. (PTEN)

Cortina Asset Management LLC boosted its holdings in shares of Patterson-UTI Energy, Inc. (NASDAQ:PTEN) by 5.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,015,164 shares of the oil and gas company’s stock after purchasing an additional 55,020 shares during the period. Cortina Asset Management LLC owned about 0.46% of Patterson-UTI Energy worth $21,258,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Macquarie Group Ltd. lifted its position in Patterson-UTI Energy by 8.7% during the third quarter. Macquarie Group Ltd. now owns 3,984,681 shares of the oil and gas company’s stock valued at $83,439,000 after purchasing an additional 319,856 shares during the period. Ameriprise Financial Inc. lifted its position in 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 purchasing an additional 1,335,098 shares during the period. Ninepoint Partners LP acquired a new position in Patterson-UTI Energy during the third quarter valued at $9,423,000. 361 Capital LLC increased its holdings in Patterson-UTI Energy by 9.2% in the third quarter. 361 Capital LLC now owns 82,388 shares of the oil and gas company’s stock valued at $1,725,000 after buying an additional 6,914 shares in the last quarter. Finally, Timber Hill LLC purchased a new position in Patterson-UTI Energy in the third quarter valued at $256,000. Institutional investors own 93.46% of the company’s stock.

Patterson-UTI Energy, Inc. (PTEN) traded up $0.39 during midday trading on Monday, hitting $20.02. 2,179,200 shares of the company were exchanged, compared to its average volume of 4,306,232. The company has a current ratio of 1.23, a quick ratio of 1.16 and a debt-to-equity ratio of 0.17. Patterson-UTI Energy, Inc. has a 1 year low of $14.83 and a 1 year high of $29.76.

Patterson-UTI Energy (NASDAQ:PTEN) last posted its earnings results on Thursday, October 26th. The oil and gas company reported ($0.13) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.17) by $0.04. The firm had revenue of $684.99 million for the quarter, compared to the consensus estimate of $688.05 million. Patterson-UTI Energy had a negative net margin of 14.73% and a negative return on equity of 7.31%. The company’s revenue was up 232.3% on a year-over-year basis. During the same period last year, the firm posted ($0.58) EPS. research analysts forecast that Patterson-UTI Energy, Inc. will post -0.82 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 21st. Investors of record on Thursday, December 7th will be given a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date is Wednesday, December 6th. Patterson-UTI Energy’s dividend payout ratio (DPR) is -5.16%.

WARNING: This piece was first published by Sports Perspectives and is the property of of Sports Perspectives. If you are viewing this piece on another site, it was stolen and republished in violation of U.S. & international copyright & trademark legislation. The legal version of this piece can be viewed at https://sportsperspectives.com/2017/11/20/cortina-asset-management-llc-boosts-position-in-patterson-uti-energy-inc-pten.html.

A number of research analysts have weighed in on the stock. Cowen and Company set a $24.00 price objective on shares of Patterson-UTI Energy and gave the company a “hold” rating in a report on Wednesday, October 18th. UBS AG reissued a “buy” rating and set a $25.00 target price (down previously from $35.00) on shares of Patterson-UTI Energy in a research note on Monday, July 31st. They noted that the move was a valuation call. Piper Jaffray Companies reissued a “buy” rating on shares of Patterson-UTI Energy in a research note on Tuesday, September 5th. Citigroup Inc. set a $24.00 target price on shares of Patterson-UTI Energy and gave the stock a “buy” rating in a research note on Thursday, October 5th. Finally, J P Morgan Chase & Co raised shares of Patterson-UTI Energy from a “neutral” rating to an “overweight” rating and set a $24.00 target price for the company in a research note on Tuesday, September 5th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eighteen have given a buy rating to the company’s stock. Patterson-UTI Energy has an average rating of “Buy” and an average target price of $26.71.

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.

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

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Cortina Asset Management LLC Boosts Position in Patterson-UTI Energy, Inc. (PTEN)

Cortina Asset Management LLC boosted its holdings in shares of Patterson-UTI Energy, Inc. (NASDAQ:PTEN) by 5.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,015,164 shares of the oil and gas company’s stock after purchasing an additional 55,020 shares during the period. Cortina Asset Management LLC owned about 0.46% of Patterson-UTI Energy worth $21,258,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Macquarie Group Ltd. lifted its position in Patterson-UTI Energy by 8.7% during the third quarter. Macquarie Group Ltd. now owns 3,984,681 shares of the oil and gas company’s stock valued at $83,439,000 after purchasing an additional 319,856 shares during the period. Ameriprise Financial Inc. lifted its position in 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 purchasing an additional 1,335,098 shares during the period. Ninepoint Partners LP acquired a new position in Patterson-UTI Energy during the third quarter valued at $9,423,000. 361 Capital LLC increased its holdings in Patterson-UTI Energy by 9.2% in the third quarter. 361 Capital LLC now owns 82,388 shares of the oil and gas company’s stock valued at $1,725,000 after buying an additional 6,914 shares in the last quarter. Finally, Timber Hill LLC purchased a new position in Patterson-UTI Energy in the third quarter valued at $256,000. Institutional investors own 93.46% of the company’s stock.

Patterson-UTI Energy, Inc. (PTEN) traded up $0.39 during midday trading on Monday, hitting $20.02. 2,179,200 shares of the company were exchanged, compared to its average volume of 4,306,232. The company has a current ratio of 1.23, a quick ratio of 1.16 and a debt-to-equity ratio of 0.17. Patterson-UTI Energy, Inc. has a 1 year low of $14.83 and a 1 year high of $29.76.

Patterson-UTI Energy (NASDAQ:PTEN) last posted its earnings results on Thursday, October 26th. The oil and gas company reported ($0.13) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.17) by $0.04. The firm had revenue of $684.99 million for the quarter, compared to the consensus estimate of $688.05 million. Patterson-UTI Energy had a negative net margin of 14.73% and a negative return on equity of 7.31%. The company’s revenue was up 232.3% on a year-over-year basis. During the same period last year, the firm posted ($0.58) EPS. research analysts forecast that Patterson-UTI Energy, Inc. will post -0.82 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 21st. Investors of record on Thursday, December 7th will be given a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date is Wednesday, December 6th. Patterson-UTI Energy’s dividend payout ratio (DPR) is -5.16%.

WARNING: This piece was first published by Sports Perspectives and is the property of of Sports Perspectives. If you are viewing this piece on another site, it was stolen and republished in violation of U.S. & international copyright & trademark legislation. The legal version of this piece can be viewed at https://sportsperspectives.com/2017/11/20/cortina-asset-management-llc-boosts-position-in-patterson-uti-energy-inc-pten.html.

A number of research analysts have weighed in on the stock. Cowen and Company set a $24.00 price objective on shares of Patterson-UTI Energy and gave the company a “hold” rating in a report on Wednesday, October 18th. UBS AG reissued a “buy” rating and set a $25.00 target price (down previously from $35.00) on shares of Patterson-UTI Energy in a research note on Monday, July 31st. They noted that the move was a valuation call. Piper Jaffray Companies reissued a “buy” rating on shares of Patterson-UTI Energy in a research note on Tuesday, September 5th. Citigroup Inc. set a $24.00 target price on shares of Patterson-UTI Energy and gave the stock a “buy” rating in a research note on Thursday, October 5th. Finally, J P Morgan Chase & Co raised shares of Patterson-UTI Energy from a “neutral” rating to an “overweight” rating and set a $24.00 target price for the company in a research note on Tuesday, September 5th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eighteen have given a buy rating to the company’s stock. Patterson-UTI Energy has an average rating of “Buy” and an average target price of $26.71.

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.

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

Receive News & Ratings for Patterson-UTI Energy Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Patterson-UTI Energy Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

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