Stephens Initiates Coverage on Patterson-UTI Energy (PTEN)

Mae Love
January 13, 2018

The number of shares now owned by investors are 979.17 mln. The stock decreased 0.61% or $0.15 during the last trading session, reaching $24.55. About 795,183 shares traded or 11.51% up from the average. (NYSE:JPM) has risen 33.74% since January 12, 2017 and is uptrending. It has outperformed by 105.47% the S&P500.

In related news, Director Tiffany J. Thom sold 2,574 shares of the business's stock in a transaction that occurred on Tuesday, January 2nd. The institutional investor held 226 shares of the energy company at the end of 2017Q3, valued at $5,000, down from 87,038 at the end of the previous reported quarter.

Patterson-UTI Energy, Inc is an oilfield services company. The day started at a price of $23.96 but then traded as high as $24.919 before giving part of the gains back.

In its recent announcement the company has said that it has priced its previously announced $525 million private offering of 3.95% senior notes that are due 2028. Patterson-UTI Energy Inc had 96 analyst reports since July 28, 2015 according to SRatingsIntel. It has outperformed by 22.83% the S&P500.

Investors sentiment decreased to 1.63 in Q3 2017. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.16 and a current ratio of 1.23. It dived, as 65 investors sold JPM shares while 767 reduced holdings. 51 funds opened positions while 130 raised stakes. The company has managed to keep price to sales ratio of 2.92 against an industry average of 1.91. D E Shaw And holds 820,408 shares. Veeva Systems had 44 analyst reports since August 28, 2015 according to SRatingsIntel. Wealth Architects Llc has 8,668 shares. Alps Advisors Incorporated owns 8,209 shares. Pettee has 99,001 shares. Universal Pressure Pumping, Inc. and Universal Well Services. Castleark Management Ltd Liability Com stated it has 418,630 shares or 0.28% of all its holdings. Amer Century has 5.19 million shares for 0.71% of their portfolio. The oil and gas company reported ($0.13) earnings per share for the quarter, beating the Thomson Reuters' consensus estimate of ($0.17) by $0.04. Sand Hill Glob Advsrs Limited Company, a California-based fund reported 70,054 shares. First Quadrant Ltd Partnership Ca reported 45,226 shares. Parametric Assocs Limited Liability Corp accumulated 393,732 shares. Sei Invests Co accumulated 0% or 66,708 shares.

Of the analysts' scores, 14 rated Patterson-UTI stocks as Strong Buy, 4 have rated it as Hold. Therefore 86% are positive. The company was maintained on Friday, August 18 by RBC Capital Markets. The rating was upgraded by Jefferies to "Buy" on Monday, July 11. The firm has a Return on Assets (ROA) value of -5.70%. As per Tuesday, April 19, the company rating was maintained by Morgan Stanley. Keefe Bruyette & Woods downgraded JPMorgan Chase & Co. (NYSE:HBM) on Tuesday, August 2 to "Market Perform" rating. Cowen & Co has "Outperform" rating and $23 target. Needham maintained it with "Buy" rating and $48 target in Wednesday, March 1 report. (NASDAQ:PTEN) has "Buy" rating given on Thursday, August 31 by Jefferies. Savings Bank Of New York Mellon Corporation accumulated 4.39 million shares. Patterson-UTI Energy, Inc. has a fifty-two week low of $14.83 and a fifty-two week high of $29.76.

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Cypress Semiconductor Corporation (CY) reported its last quarterly earnings on 9/29/2017 where the firm reported its Actual EPS of $0.27/share against the analyst consensus estimate of $0.23/share. They expect $-0.08 earnings per share, up 84.91% or $0.45 from last year's $-0.53 per share.

Shares of Patterson-UTI Energy, Inc.(NASDAQ:PTEN) have seen a movement of 3.74% in the most recent session. (NASDAQ:PTEN). Tower Cap (Trc) has invested 0% of its portfolio in Patterson-UTI Energy, Inc. Therefore 40% are positive. The stock of Patterson-UTI Energy, Inc. Citigroup maintained Patterson-UTI Energy, Inc. (NASDAQ:PTEN) rating on Friday, July 29. The legal version of this article can be viewed at The stock of IBERIABANK Corporation (NASDAQ:IBKC) has "Outperform" rating given on Thursday, October 27 by Raymond James. On Friday, September 4 the stock rating was maintained by Credit Suisse with "Neutral". Stifel Nicolaus maintained the shares of VMI in report on Thursday, July 20 with "Buy" rating. The stock is performing -5.16% year to date. The Ahl Partners Llp holds 55,064 shares with $3.11M value, up from 20,750 last quarter.

Several other institutional investors have also bought shares of the company.

Investors sentiment decreased to 1.41 in 2017 Q3. Its down 0.06, from 0.93 in 2017Q2. The firm earned "Hold" rating on Wednesday, June 21 by BMO Capital Markets. Laurion Cap Management Limited Partnership has 0.01% invested in Patterson-UTI Energy, Inc. (NASDAQ:PTEN) for 4.07 million shares. (NASDAQ:PTEN). Gabelli Funds Llc stated it has 0.04% of its portfolio in Patterson-UTI Energy, Inc. PNC Financial Services Group Inc. increased its stake in Patterson-UTI Energy by 11.7% in the second quarter. (NASDAQ:PTEN). Kazazian Asset Limited Com reported 20,000 shares stake. Creative Planning accumulated 0.01% or 128,798 shares. Ubs Asset Mgmt Americas Inc, Illinois-based fund reported 30,754 shares.

DIMENSIONAL FUND ADVISORS LP lowered its stake in Patterson-UTI Energy, Inc. (NASDAQ:PTEN). Aqr Capital Mgmt invested in 1.23M shares. Louisiana State Employees Retirement Systems reported 0.06% stake. Tygh Capital Mngmt invested in 89,002 shares or 0.37% of the stock. Commonwealth Equity Svcs has invested 0% in Patterson-UTI Energy, Inc. Patterson-UTI Energy, Inc. (NASDAQ:PTEN) has risen 32.91% since January 11, 2017 and is uptrending.

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