Howard Weil Upgrades Patterson-UTI Energy (PTEN) to "Sector Outperform"

Lloyd Doyle
January 13, 2018

Encompass Capital Advisors Llc sold 403,712 shares as Patterson Uti Energy Inc (PTEN)'s stock declined 16.81%. 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. The business's revenue was up 232.3% compared to the same quarter last year. research analysts forecast that Patterson-UTI Energy will post -0.8 EPS for the current year.

The Stock surged3.74% and closed its last trading session at $24.7. About 106,030 shares traded.

Patterson-UTI Energy (NASDAQ:PTEN) last released its quarterly earnings results on Thursday, October 26th. It has outperformed by 22.83% the S&P500. Pacer Advisors Inc. now owns 33,876 shares of the oil and gas company's stock worth $709,000 after acquiring an additional 3,522 shares during the period. Pnc Financial Services Group I now has $72.08B valuation. 4,016,272 shares of the company traded hands, compared to its average volume of 3,392,497. (NASDAQ:PTEN). Bnp Paribas Arbitrage Sa owns 261,427 shares for 0.01% of their portfolio. Universal Pressure Pumping, Inc. and Universal Well Services.

Investors sentiment increased to 1.38 in Q3 2017. Its down 0.13, from 1.76 in 2017Q2. It dived, as 65 investors sold JPM shares while 767 reduced holdings. 207.11 million shares or 3.18% more from 200.72 million shares in 2017Q2 were reported. Wealth Architects Llc has 8,668 shares. State Of Wisconsin Invest Board stated it has 42,404 shares. Perigon Wealth Management Lc accumulated 26,883 shares or 0.83% of the stock. Legal General Public Limited Com invested in 0% or 271,342 shares. (NYSE:VEEV). Parkside Fin Savings Bank And Trust has invested 0.04% in Veeva Systems Inc.

The institutional ownership of Shell Midstream Partners, L.P. (NYSE:SHLX) was 53.50%. Glg Prtnrs Ltd Partnership reported 9,457 shares. 57,731 were reported by Raymond James Financial. During the same period in the previous year, the firm posted ($0.58) earnings per share. World Asset Incorporated invested in 0.01% or 15,096 shares.

Pioneer Natural Resources Company (PXD) stock moved with shift of 1.34% in the past week.

Among 7 analysts covering TowerJazz (NASDAQ:TSEM), 6 have Buy rating, 0 Sell and 1 Hold. Hudbay Minerals Inc had 14 analyst reports since July 21, 2015 according to SRatingsIntel. The firm has "Buy" rating given on Friday, September 1 by RBC Capital Markets. The stock of Valmont Industries, Inc. The firm has "Buy" rating by Jefferies given on Thursday, August 31. As per Wednesday, September 9, the company rating was downgraded by Tudor Pickering. On Friday, December 11 the stock rating was upgraded by Citigroup to "Buy". (NASDAQ:PTEN). Vaughan Nelson Invest Mgmt LP has 0.01% invested in Patterson-UTI Energy, Inc. As per Thursday, August 10, the company rating was maintained by Wells Fargo. Finally, Deutsche Bank started coverage on shares of Patterson-UTI Energy in a research report on Tuesday, October 10th. (NASDAQ:PTEN) has "Buy" rating given on Thursday, August 31 by Jefferies. As per Friday, October 6, the company rating was maintained by Stifel Nicolaus. (NYSE:VMI) for 187,800 shares. (NYSE:PNC) or 46,307 shares. WTI has increased sales at a -16.30% CAGR over the past five years, and is considered a low growth stock. Zacks Investment Research raised shares of Patterson-UTI Energy from a "hold" rating to a "buy" rating and set a $23.00 price target for the company in a research note on Wednesday, October 11th. Therefore 71% are positive. Amalgamated Bancorporation reported 0.03% of its portfolio in Patterson-UTI Energy, Inc. As per Thursday, July 13, the company rating was maintained by BMO Capital Markets. The company was initiated on Wednesday, January 18 by SunTrust. The firm has a Return on Assets (ROA) value of -5.70%. Citigroup maintained it with "Buy" rating and $24 target in Thursday, October 5 report. A 20 analysts rate it as either a buy or a strong buy, while1 believe that investors should either steer clear of PTEN or, if they already own its stock, sell it. Nationwide Fund has 0.03% invested in Patterson-UTI Energy, Inc. (NASDAQ:PTEN) on Friday, July 24 with "Outperform" rating. The rating was upgraded by KBW to "Outperform" on Monday, August 17. (NYSE:JPM) on Tuesday, January 17 to "Mkt Perform" rating. Patterson-UTI Energy had a negative net margin of 14.73% and a negative return on equity of 7.31%.

Investors sentiment decreased to 1.41 in 2017 Q3. 30 funds opened positions while 117 raised stakes. Its down 2.22% from 13.17 million shares previously. 608,980 are held by Intrepid Cap Management. Cubist Systematic Strategies LLC's holdings in Patterson-UTI Energy were worth $1,080,000 as of its most recent filing with the SEC. (NASDAQ:PTEN). Rbf Capital Ltd Liability holds 0.16% or 60,100 shares. Sand Hill Glob Advsrs Limited Company, a California-based fund reported 70,054 shares. Louisiana State Employees Retirement Systems reported 0.06% stake.

The Return on Invested Capital (aka ROIC) for Patterson-UTI Energy, Inc. (NASDAQ:PTEN) on Monday, January 11 to "Outperform" rating. 9,644 are held by Dupont Capital Management. (NYSE:VEEV). Winfield Assoc invested 0% in Veeva Systems Inc. Maryland-based Proshare Advsr Limited Liability Corp has invested 0.01% in Patterson-UTI Energy, Inc. D E Shaw Inc holds 0.03% or 820,408 shares. Finally, Pacer Advisors Inc. boosted its holdings in shares of Patterson-UTI Energy by 11.6% in the third quarter. (NasdaqGS:PTEN) is now 1.04804. Freeport (NYSE:FCX) was reduced too.

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