Universal Beteiligungs und Servicegesellschaft mbH Makes New $3.71 Million Investment in Patterson-UTI Energy, Inc. (NASDAQ:PTEN)

Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Patterson-UTI Energy, Inc. (NASDAQ:PTEN - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 448,553 shares of the oil and gas company's stock, valued at approximately $3,705,000. Universal Beteiligungs und Servicegesellschaft mbH owned approximately 0.12% of Patterson-UTI Energy as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in PTEN. WFA Asset Management Corp acquired a new stake in Patterson-UTI Energy in the fourth quarter valued at approximately $27,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Patterson-UTI Energy by 1,443.0% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,441 shares of the oil and gas company's stock valued at $29,000 after purchasing an additional 3,218 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of Patterson-UTI Energy in the 4th quarter valued at $39,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Patterson-UTI Energy in the fourth quarter worth about $42,000. Finally, Smartleaf Asset Management LLC lifted its position in shares of Patterson-UTI Energy by 43.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 5,660 shares of the oil and gas company's stock worth $46,000 after buying an additional 1,717 shares during the last quarter. Institutional investors and hedge funds own 97.91% of the company's stock.

Insider Activity

In other Patterson-UTI Energy news, CEO William Andrew Hendricks, Jr. purchased 25,000 shares of the company's stock in a transaction that occurred on Wednesday, March 12th. The stock was purchased at an average price of $7.88 per share, with a total value of $197,000.00. Following the completion of the transaction, the chief executive officer now directly owns 2,482,592 shares of the company's stock, valued at approximately $19,562,824.96. This trade represents a 1.02% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James Carl Stewart sold 5,500 shares of the stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $5.98, for a total transaction of $32,890.00. Following the completion of the transaction, the director now directly owns 999,754 shares of the company's stock, valued at $5,978,528.92. This trade represents a 0.55% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.40% of the company's stock.

Patterson-UTI Energy Stock Performance

Shares of PTEN traded down $0.04 during trading hours on Thursday, reaching $5.57. 9,727,797 shares of the company traded hands, compared to its average volume of 9,789,100. The stock's fifty day moving average is $5.98 and its 200 day moving average is $7.47. The stock has a market cap of $2.15 billion, a P/E ratio of -2.26 and a beta of 1.33. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.34 and a current ratio of 1.54. Patterson-UTI Energy, Inc. has a 1-year low of $5.12 and a 1-year high of $11.27.

Patterson-UTI Energy (NASDAQ:PTEN - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The oil and gas company reported $0.00 EPS for the quarter, beating the consensus estimate of ($0.04) by $0.04. The firm had revenue of $1.28 billion during the quarter, compared to analysts' expectations of $1.18 billion. Patterson-UTI Energy had a positive return on equity of 0.81% and a negative net margin of 18.00%. The company's revenue for the quarter was down 15.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.15 EPS. Equities research analysts anticipate that Patterson-UTI Energy, Inc. will post -0.1 earnings per share for the current fiscal year.

Patterson-UTI Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be paid a $0.08 dividend. The ex-dividend date is Monday, June 2nd. This represents a $0.32 dividend on an annualized basis and a dividend yield of 5.75%. Patterson-UTI Energy's payout ratio is -12.31%.

Wall Street Analyst Weigh In

PTEN has been the subject of several analyst reports. Citigroup restated a "neutral" rating and issued a $6.50 target price on shares of Patterson-UTI Energy in a report on Monday, May 19th. Stifel Nicolaus reduced their price objective on shares of Patterson-UTI Energy from $13.00 to $12.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. Barclays reduced their price objective on shares of Patterson-UTI Energy from $11.00 to $8.00 and set an "overweight" rating for the company in a research note on Monday, April 28th. The Goldman Sachs Group cut their target price on shares of Patterson-UTI Energy from $11.00 to $8.00 and set a "neutral" rating for the company in a research report on Thursday, April 10th. Finally, Morgan Stanley cut their price objective on Patterson-UTI Energy from $9.00 to $7.00 and set an "equal weight" rating for the company in a research report on Friday, May 16th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Patterson-UTI Energy presently has a consensus rating of "Hold" and a consensus price target of $9.50.

Patterson-UTI Energy Company Profile

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.