Patterson-UTI Energy, Inc. (NASDAQ:PTEN) Shares Bought by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC grew its holdings in shares of Patterson-UTI Energy, Inc. (NASDAQ:PTEN) by 5.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 53,795 shares of the oil and gas company’s stock after buying an additional 2,955 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Patterson-UTI Energy were worth $412,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Hexagon Capital Partners LLC boosted its position in Patterson-UTI Energy by 119.5% during the 2nd quarter. Hexagon Capital Partners LLC now owns 2,401 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 1,307 shares during the period. Massmutual Trust Co. FSB ADV raised its stake in shares of Patterson-UTI Energy by 250.4% during the third quarter. Massmutual Trust Co. FSB ADV now owns 4,320 shares of the oil and gas company’s stock valued at $33,000 after purchasing an additional 3,087 shares during the period. Covestor Ltd increased its stake in Patterson-UTI Energy by 92.4% during the 3rd quarter. Covestor Ltd now owns 6,885 shares of the oil and gas company’s stock worth $53,000 after buying an additional 3,307 shares during the period. CWM LLC lifted its holdings in Patterson-UTI Energy by 49.9% in the 2nd quarter. CWM LLC now owns 6,043 shares of the oil and gas company’s stock worth $63,000 after buying an additional 2,012 shares in the last quarter. Finally, Blue Trust Inc. boosted its position in Patterson-UTI Energy by 25.0% in the 3rd quarter. Blue Trust Inc. now owns 9,498 shares of the oil and gas company’s stock valued at $73,000 after buying an additional 1,901 shares during the last quarter. Institutional investors and hedge funds own 97.91% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Barclays dropped their target price on Patterson-UTI Energy from $14.00 to $12.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Royal Bank of Canada decreased their price objective on shares of Patterson-UTI Energy from $12.00 to $11.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Citigroup lowered their price objective on Patterson-UTI Energy from $11.00 to $10.00 and set a “buy” rating for the company in a report on Thursday, October 31st. ATB Capital decreased their target price on Patterson-UTI Energy from $12.00 to $11.00 and set an “outperform” rating for the company in a research report on Wednesday, September 4th. Finally, Morgan Stanley reduced their price objective on Patterson-UTI Energy from $12.00 to $10.00 and set an “equal weight” rating on the stock in a research note on Monday, September 16th. One research analyst has rated the stock with a sell rating, three have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Patterson-UTI Energy presently has an average rating of “Moderate Buy” and an average price target of $11.88.

Patterson-UTI Energy Trading Up 1.4 %

Patterson-UTI Energy stock opened at $8.46 on Thursday. Patterson-UTI Energy, Inc. has a 52-week low of $7.38 and a 52-week high of $12.65. The firm has a market capitalization of $3.30 billion, a price-to-earnings ratio of -3.91 and a beta of 2.12. The firm has a 50-day moving average price of $8.11 and a two-hundred day moving average price of $9.23. The company has a quick ratio of 1.32, a current ratio of 1.52 and a debt-to-equity ratio of 0.35.

Patterson-UTI Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a $0.08 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.32 dividend on an annualized basis and a yield of 3.78%. Patterson-UTI Energy’s dividend payout ratio is presently -14.61%.

About Patterson-UTI Energy

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.