XTX Topco Ltd Invests $1.94 Million in Patterson-UTI Energy, Inc. (NASDAQ:PTEN)

XTX Topco Ltd acquired a new stake in Patterson-UTI Energy, Inc. (NASDAQ:PTEN - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 253,912 shares of the oil and gas company's stock, valued at approximately $1,942,000. XTX Topco Ltd owned 0.07% of Patterson-UTI Energy at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Hexagon Capital Partners LLC raised its position in shares of Patterson-UTI Energy by 119.5% in the 2nd quarter. Hexagon Capital Partners LLC now owns 2,401 shares of the oil and gas company's stock valued at $25,000 after acquiring an additional 1,307 shares during the period. Massmutual Trust Co. FSB ADV grew its holdings in shares of Patterson-UTI Energy by 250.4% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 4,320 shares of the oil and gas company's stock valued at $33,000 after buying an additional 3,087 shares during the period. Covestor Ltd increased its position in shares of Patterson-UTI Energy by 92.4% in the 3rd quarter. Covestor Ltd now owns 6,885 shares of the oil and gas company's stock valued at $53,000 after buying an additional 3,307 shares in the last quarter. CWM LLC lifted its holdings in Patterson-UTI Energy by 49.9% during the second quarter. CWM LLC now owns 6,043 shares of the oil and gas company's stock worth $63,000 after acquiring an additional 2,012 shares in the last quarter. Finally, Blue Trust Inc. grew its stake in Patterson-UTI Energy by 25.0% in the third quarter. Blue Trust Inc. now owns 9,498 shares of the oil and gas company's stock valued at $73,000 after acquiring an additional 1,901 shares during the period. 97.91% of the stock is currently owned by institutional investors and hedge funds.

Patterson-UTI Energy Stock Down 7.9 %

Shares of NASDAQ PTEN traded down $0.64 during trading hours on Friday, hitting $7.49. The company had a trading volume of 13,252,815 shares, compared to its average volume of 6,409,386. Patterson-UTI Energy, Inc. has a 1-year low of $7.38 and a 1-year high of $12.65. The company has a quick ratio of 1.32, a current ratio of 1.52 and a debt-to-equity ratio of 0.35. The firm's 50 day moving average is $8.13 and its 200-day moving average is $9.08. The stock has a market capitalization of $2.92 billion, a P/E ratio of -3.42 and a beta of 2.12.

Patterson-UTI Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 4.27%. The ex-dividend date of this dividend is Monday, December 2nd. Patterson-UTI Energy's dividend payout ratio (DPR) is presently -14.61%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PTEN. Citigroup decreased their price objective on Patterson-UTI Energy from $11.00 to $10.00 and set a "buy" rating for the company in a research report on Thursday, October 31st. StockNews.com lowered shares of Patterson-UTI Energy from a "hold" rating to a "sell" rating in a report on Saturday, October 12th. Royal Bank of Canada cut their price objective on shares of Patterson-UTI Energy from $12.00 to $11.00 and set an "outperform" rating on the stock in a research report on Friday, October 25th. Barclays lowered their target price on Patterson-UTI Energy from $14.00 to $12.00 and set an "overweight" rating for the company in a report on Wednesday, October 16th. Finally, Morgan Stanley cut their price target on Patterson-UTI Energy from $12.00 to $10.00 and set an "equal weight" rating on the stock in a report on Monday, September 16th. One analyst has rated the stock with a sell rating, three have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Patterson-UTI Energy presently has an average rating of "Moderate Buy" and a consensus target price of $11.88.

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.