Jane Street Group LLC Invests $511,000 in Patterson-UTI Energy, Inc. (PTEN) Stock

Jane Street Group LLC purchased a new stake in Patterson-UTI Energy, Inc. (NASDAQ:PTEN) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 24,399 shares of the oil and gas company’s stock, valued at approximately $511,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Riverhead Capital Management LLC boosted its stake in shares of Patterson-UTI Energy by 86.2% in the 2nd quarter. Riverhead Capital Management LLC now owns 10,053 shares of the oil and gas company’s stock valued at $203,000 after purchasing an additional 4,653 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Patterson-UTI Energy by 11.7% in the 2nd quarter. PNC Financial Services Group Inc. now owns 10,392 shares of the oil and gas company’s stock valued at $210,000 after purchasing an additional 1,089 shares in the last quarter. Madden Advisory Services Inc. acquired a new stake in shares of Patterson-UTI Energy in the 2nd quarter valued at approximately $236,000. Gluskin Sheff & Assoc Inc. boosted its stake in shares of Patterson-UTI Energy by 7.1% in the 2nd quarter. Gluskin Sheff & Assoc Inc. now owns 11,740 shares of the oil and gas company’s stock valued at $237,000 after purchasing an additional 780 shares in the last quarter. Finally, Pacad Investment Ltd. acquired a new stake in shares of Patterson-UTI Energy in the 2nd quarter valued at approximately $246,000. Institutional investors own 97.91% of the company’s stock.

Shares of Patterson-UTI Energy, Inc. (PTEN) opened at $20.59 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.16 and a current ratio of 1.23. Patterson-UTI Energy, Inc. has a one year low of $14.83 and a one year high of $29.76.

Patterson-UTI Energy (NASDAQ:PTEN) last released its quarterly earnings data on Thursday, October 26th. The oil and gas company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.04. The company had revenue of $684.99 million during the quarter, compared to analyst estimates of $688.05 million. Patterson-UTI Energy had a negative net margin of 14.73% and a negative return on equity of 7.31%. Patterson-UTI Energy’s revenue for the quarter was up 232.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.58) EPS. research analysts expect that Patterson-UTI Energy, Inc. will post -0.8 EPS for the current fiscal year.

The firm also recently declared 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 annualized dividend and a yield of 0.39%. The ex-dividend date is Wednesday, December 6th. Patterson-UTI Energy’s payout ratio is currently -5.16%.

A number of research analysts recently issued reports on PTEN shares. SunTrust Banks raised their price objective on shares of Patterson-UTI Energy to $31.00 and gave the company a “buy” rating in a report on Wednesday, December 6th. Cowen 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. TheStreet upgraded shares of Patterson-UTI Energy from a “d+” rating to a “c-” rating in a report on Monday, December 4th. Deutsche Bank started coverage on shares of Patterson-UTI Energy in a report on Tuesday, October 10th. They issued a “buy” rating and a $25.00 price objective for the company. Finally, Zacks Investment Research upgraded shares of Patterson-UTI Energy from a “hold” rating to a “buy” rating and set a $22.00 price objective for the company in a report on Tuesday, October 31st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seventeen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $27.00.

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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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