Thompson Siegel & Walmsley LLC Makes New $6.03 Million Investment in Patterson-UTI Energy, Inc. (NASDAQ:PTEN)

Thompson Siegel & Walmsley LLC purchased a new position in shares of Patterson-UTI Energy, Inc. (NASDAQ:PTEN - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 729,889 shares of the oil and gas company's stock, valued at approximately $6,029,000. Thompson Siegel & Walmsley LLC owned 0.19% of Patterson-UTI Energy as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the stock. Atria Investments Inc increased its stake in shares of 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 in the last quarter. MassMutual Private Wealth & Trust FSB increased its position in shares of Patterson-UTI Energy by 31.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 5,678 shares of the oil and gas company's stock valued at $47,000 after buying an additional 1,358 shares in the last quarter. Avantax Advisory Services Inc. raised its stake 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 worth $130,000 after buying an additional 1,436 shares during the period. CIBC Asset Management Inc lifted its position in shares of Patterson-UTI Energy by 7.2% during the 3rd quarter. CIBC Asset Management Inc now owns 22,336 shares of the oil and gas company's stock valued at $171,000 after buying an additional 1,501 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its stake in Patterson-UTI Energy by 43.5% in 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 during the period. Hedge funds and other institutional investors own 97.91% of the company's stock.

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Insider Transactions at Patterson-UTI Energy

In other Patterson-UTI Energy news, Director James Carl Stewart sold 80,000 shares of the firm's stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $7.36, for a total transaction of $588,800.00. Following the completion of the sale, the director now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William Andrew Hendricks, Jr. bought 25,000 shares of Patterson-UTI Energy stock in a transaction on Wednesday, March 12th. The stock was acquired at an average price 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 of the company's stock, valued at approximately $19,562,824.96. This trade represents a 1.02 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 358,149 shares of company stock worth $2,990,766 in the last 90 days. Insiders own 2.30% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Raymond James cut shares of Patterson-UTI Energy from a "strong-buy" rating to a "market perform" rating in a research report on Monday, January 6th. Stifel Nicolaus lowered their price objective on Patterson-UTI Energy from $14.00 to $13.00 and set a "buy" rating on the stock in a report on Monday, January 6th. Finally, The Goldman Sachs Group raised Patterson-UTI Energy from a "neutral" rating to a "buy" rating and reduced their target price for the company from $11.00 to $10.00 in a report on Friday, December 13th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Patterson-UTI Energy has a consensus rating of "Moderate Buy" and a consensus price target of $11.63.

Patterson-UTI Energy Trading Up 0.8 %

Shares of PTEN traded up $0.06 during mid-day trading on Tuesday, reaching $7.92. The stock had a trading volume of 12,322,404 shares, compared to its average volume of 7,872,571. Patterson-UTI Energy, Inc. has a 52-week low of $7.03 and a 52-week high of $12.65. The firm has a market cap of $3.06 billion, a price-to-earnings ratio of -3.21 and a beta of 1.99. The business's fifty day moving average is $8.42 and its 200 day moving average is $8.21. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.54 and a quick ratio of 1.34.

Patterson-UTI Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid a $0.08 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.32 annualized dividend and a dividend yield of 4.04%. Patterson-UTI Energy's dividend payout ratio (DPR) is -12.96%.

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.