Robeco Institutional Asset Management B.V. Invests $2.75 Million in Patterson-UTI Energy, Inc. (NASDAQ:PTEN)

Robeco Institutional Asset Management B.V. acquired a new stake in shares of Patterson-UTI Energy, Inc. (NASDAQ:PTEN - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 332,449 shares of the oil and gas company's stock, valued at approximately $2,746,000. Robeco Institutional Asset Management B.V. owned approximately 0.09% of Patterson-UTI Energy as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Patterson-UTI Energy by 31.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 5,678 shares of the oil and gas company's stock valued at $47,000 after purchasing an additional 1,358 shares in the last quarter. CIBC Asset Management Inc lifted its position in shares of Patterson-UTI Energy by 7.2% in the third quarter. CIBC Asset Management Inc now owns 22,336 shares of the oil and gas company's stock worth $171,000 after buying an additional 1,501 shares during the last quarter. KBC Group NV boosted its stake in shares of Patterson-UTI Energy by 18.5% during the 3rd quarter. KBC Group NV now owns 11,044 shares of the oil and gas company's stock worth $84,000 after acquiring an additional 1,723 shares in the last quarter. Sequoia Financial Advisors LLC raised its stake in shares of Patterson-UTI Energy by 10.6% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 19,548 shares of the oil and gas company's stock valued at $150,000 after acquiring an additional 1,879 shares in the last quarter. Finally, Blue Trust Inc. lifted its holdings 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 worth $73,000 after purchasing an additional 1,901 shares during the last quarter. 97.91% of the stock is currently owned by institutional investors and hedge funds.

Patterson-UTI Energy Trading Up 2.9 %

Shares of PTEN traded up $0.24 on Friday, reaching $8.62. 11,733,659 shares of the company's stock were exchanged, compared to its average volume of 9,127,574. Patterson-UTI Energy, Inc. has a 12 month low of $7.15 and a 12 month high of $12.65. The stock has a market capitalization of $3.36 billion, a P/E ratio of -3.94 and a beta of 2.07. The company has a current ratio of 1.52, a quick ratio of 1.32 and a debt-to-equity ratio of 0.35. The business has a 50 day moving average price of $8.26 and a two-hundred day moving average price of $8.45.

Patterson-UTI Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be issued a $0.08 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.32 dividend on an annualized basis and a yield of 3.71%. Patterson-UTI Energy's dividend payout ratio is presently -14.61%.

Analyst Ratings Changes

A number of research firms have recently commented on PTEN. Stifel Nicolaus dropped their price target on shares of Patterson-UTI Energy from $14.00 to $13.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. Raymond James lowered Patterson-UTI Energy from a "strong-buy" rating to a "market perform" rating in a report on Monday, January 6th. Barclays dropped their target price on shares of 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. StockNews.com downgraded Patterson-UTI Energy from a "hold" rating to a "sell" rating in a research report on Saturday, October 12th. Finally, Royal Bank of Canada cut their price target on Patterson-UTI Energy from $12.00 to $11.00 and set an "outperform" rating for the company in a report on Friday, October 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Patterson-UTI Energy currently has an average rating of "Moderate Buy" and a consensus price target of $11.63.

Insider Buying and Selling at Patterson-UTI Energy

In other news, Director James Carl Stewart sold 80,000 shares of Patterson-UTI Energy stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $7.36, for a total transaction of $588,800.00. Following the transaction, the director now directly owns 32,438 shares of the company's stock, valued at $238,743.68. This trade represents a 71.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 2.30% of the company's stock.

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.