479,107 Shares in Patterson-UTI Energy, Inc. (NASDAQ:PTEN) Bought by New Age Alpha Advisors LLC

New Age Alpha Advisors LLC purchased a new stake in Patterson-UTI Energy, Inc. (NASDAQ:PTEN - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 479,107 shares of the oil and gas company's stock, valued at approximately $3,957,000. New Age Alpha Advisors LLC owned approximately 0.12% of Patterson-UTI Energy at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Atria Investments Inc lifted its stake in Patterson-UTI Energy by 3.7% in the 4th quarter. Atria Investments Inc now owns 34,831 shares of the oil and gas company's stock valued at $288,000 after purchasing an additional 1,252 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Patterson-UTI Energy by 31.4% in 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 acquiring an additional 1,358 shares during the last quarter. Avantax Advisory Services Inc. boosted its holdings in shares of Patterson-UTI Energy by 10.1% during the 4th quarter. Avantax Advisory Services Inc. now owns 15,698 shares of the oil and gas company's stock valued at $130,000 after acquiring an additional 1,436 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of Patterson-UTI Energy by 43.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 5,660 shares of the oil and gas company's stock valued at $46,000 after acquiring an additional 1,717 shares in the last quarter. Finally, Greenleaf Trust grew its position in Patterson-UTI Energy by 12.3% during the 4th quarter. Greenleaf Trust now owns 19,576 shares of the oil and gas company's stock worth $162,000 after acquiring an additional 2,141 shares during the last quarter. 97.91% of the stock is owned by institutional investors.

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Insider Buying and Selling

In other Patterson-UTI Energy news, Director James Carl Stewart sold 48,149 shares of Patterson-UTI Energy stock in a transaction on Friday, March 7th. The shares were sold at an average price of $7.42, for a total value of $357,265.58. Following the completion of the sale, the director now directly owns 85,475 shares of the company's stock, valued at approximately $634,224.50. The trade was a 36.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO William Andrew Hendricks, Jr. acquired 25,000 shares of the business's stock in a transaction dated Wednesday, March 12th. The shares were bought at an average cost of $7.88 per share, for a total transaction of $197,000.00. Following the transaction, the chief executive officer now directly owns 2,482,592 shares in the company, valued at approximately $19,562,824.96. This represents a 1.02 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.30% of the stock is currently owned by insiders.

Patterson-UTI Energy Trading Up 0.4 %

PTEN traded up $0.03 during trading on Monday, reaching $8.22. 6,756,666 shares of the stock traded hands, compared to its average volume of 8,317,785. The company has a quick ratio of 1.34, a current ratio of 1.54 and a debt-to-equity ratio of 0.35. The stock's 50-day moving average is $8.33 and its 200 day moving average is $8.20. Patterson-UTI Energy, Inc. has a 12 month low of $7.03 and a 12 month high of $12.65. The stock has a market capitalization of $3.18 billion, a PE ratio of -3.33 and a beta of 1.99.

Patterson-UTI Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a dividend of $0.08 per share. The ex-dividend date was Monday, March 3rd. This represents a $0.32 annualized dividend and a dividend yield of 3.89%. Patterson-UTI Energy's payout ratio is -12.96%.

Wall Street Analysts Forecast Growth

Several research firms have commented on PTEN. Stifel Nicolaus dropped their target price on Patterson-UTI Energy from $14.00 to $13.00 and set a "buy" rating for the company in a research report on Monday, January 6th. The Goldman Sachs Group upgraded shares of Patterson-UTI Energy from a "neutral" rating to a "buy" rating and cut their target price for the stock from $11.00 to $10.00 in a research report on Friday, December 13th. Morgan Stanley decreased their price target on shares of Patterson-UTI Energy from $10.00 to $9.00 and set an "equal weight" rating for the company in a research report on Thursday. Finally, Raymond James lowered shares of Patterson-UTI Energy from a "strong-buy" rating to a "market perform" rating in a report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $11.54.

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.