Patterson-UTI Energy (NASDAQ:PTEN) Shares Acquired Rep. Debbie Wasserman Schultz

Representative Debbie Wasserman Schultz (D-Florida) recently bought shares of Patterson-UTI Energy, Inc. (NASDAQ:PTEN). In a filing disclosed on November 20th, the Representative disclosed that they had bought between $1,001 and $15,000 in Patterson-UTI Energy stock on October 23rd.

Representative Debbie Wasserman Schultz also recently made the following trade(s):

• Sold $1,001 – $15,000 in shares of New Gold (NYSE:NGD) on 11/18/2024.
• Purchased $1,001 – $15,000 in shares of Baxter International (NYSE:BAX) on 11/18/2024.
• Purchased $1,001 – $15,000 in shares of Viasat (NASDAQ:VSAT) on 10/23/2024.

Patterson-UTI Energy Stock Up 2.8 %

NASDAQ PTEN opened at $8.36 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.52 and a quick ratio of 1.32. The firm has a market cap of $3.26 billion, a PE ratio of -3.82 and a beta of 2.12. The stock’s 50 day simple moving average is $8.09 and its 200 day simple moving average is $9.30. Patterson-UTI Energy, Inc. has a one year low of $7.38 and a one year high of $12.65.

Patterson-UTI Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a $0.08 dividend. The ex-dividend date is Monday, December 2nd. This represents a $0.32 dividend on an annualized basis and a yield of 3.83%. Patterson-UTI Energy’s dividend payout ratio (DPR) is presently -14.61%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on PTEN shares. ATB Capital reduced their target price 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 Wednesday, September 4th. Raymond James decreased their price objective on Patterson-UTI Energy from $12.00 to $11.00 and set a “strong-buy” rating on the stock in a research report on Friday, October 25th. StockNews.com downgraded Patterson-UTI Energy from a “hold” rating to a “sell” rating in a research report on Saturday, October 12th. Citigroup decreased their price target on Patterson-UTI Energy from $11.00 to $10.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. Finally, Stifel Nicolaus dropped their price objective on Patterson-UTI Energy from $15.00 to $14.00 and set a “buy” rating for the company in a report on Friday, October 11th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Patterson-UTI Energy currently has an average rating of “Moderate Buy” and an average target price of $11.88.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of PTEN. InTrack Investment Management Inc raised its holdings in Patterson-UTI Energy by 3.2% in the second quarter. InTrack Investment Management Inc now owns 32,950 shares of the oil and gas company’s stock worth $341,000 after purchasing an additional 1,037 shares during the period. Hexagon Capital Partners LLC lifted its holdings in Patterson-UTI Energy by 119.5% during the second quarter. Hexagon Capital Partners LLC now owns 2,401 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 1,307 shares in the last quarter. CIBC Asset Management Inc lifted its holdings in Patterson-UTI Energy by 7.2% during the third quarter. CIBC Asset Management Inc now owns 22,336 shares of the oil and gas company’s stock worth $171,000 after acquiring an additional 1,501 shares in the last quarter. KBC Group NV increased its holdings in shares of Patterson-UTI Energy by 18.5% in the third 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. Finally, Sage Rhino Capital LLC increased its holdings in shares of Patterson-UTI Energy by 15.8% in the second quarter. Sage Rhino Capital LLC now owns 12,623 shares of the oil and gas company’s stock worth $131,000 after acquiring an additional 1,724 shares in the last quarter. Institutional investors own 97.91% of the company’s stock.

About Representative Wasserman Schultz

Debbie Wasserman Schultz (Democratic Party) is a member of the U.S. House, representing Florida’s 25th Congressional District. She assumed office on January 3, 2023. Her current term ends on January 3, 2025. Wasserman Schultz (Democratic Party) is running for re-election to the U.S. House to represent Florida’s 25th Congressional District. She declared candidacy for the Democratic primary scheduled on August 20, 2024. Wasserman Schultz was first elected to the U.S. House in 2004 from District 20. She previously represented District 34 of the Florida State Senate from 2003 to 2004, District 32 of the Florida State Senate from 2001 to 2003, and District 97 of the Florida House of Representatives from 1993 to 2001. She served as one of the Chief Deputy Whips of the Democratic caucus for the 113th Congress. She also served as the chair of the Democratic National Committee. On July 24, 2016, Wasserman Schultz announced that she would resign her leadership position at the end of the party’s convention. Wasserman Schultz was considered a possible candidate in 2016 for U.S. Senate. However, she announced on March 17, 2015, that she would not seek the Senate seat and would instead run for re-election to the House. Debbie Wasserman Schultz was born in Forest Hills, New York. Wasserman Schultz graduated from Half Hollow Hills High School East in 1984. She earned a B.A. and M.A. from the University of Florida in 1988 and 1990, respectively. Wasserman Schultz’s career experience includes working as a staffer to former U.S. Representative Peter Deutsch.

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.