Patterson-UTI Energy (NASDAQ:PTEN) Stock 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 Price Performance

PTEN opened at $8.36 on Friday. Patterson-UTI Energy, Inc. has a 1-year low of $7.38 and a 1-year high of $12.65. The company has a 50-day moving average of $8.09 and a 200-day moving average of $9.30. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.32 and a current ratio of 1.52. The company has a market capitalization of $3.26 billion, a P/E ratio of -3.82 and a beta of 2.12.

Patterson-UTI Energy Dividend Announcement

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

Institutional Investors Weigh In On Patterson-UTI Energy

Large investors have recently made changes to their positions in the company. Hexagon Capital Partners LLC raised its stake in Patterson-UTI Energy by 119.5% in the second quarter. Hexagon Capital Partners LLC now owns 2,401 shares of the oil and gas company’s stock worth $25,000 after buying an additional 1,307 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its stake in 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 in the last quarter. CWM LLC raised its holdings in Patterson-UTI Energy by 49.9% in the 2nd quarter. CWM LLC now owns 6,043 shares of the oil and gas company’s stock valued at $63,000 after acquiring an additional 2,012 shares during the last quarter. Covestor Ltd increased its holdings in shares of Patterson-UTI Energy by 92.4% during the 3rd quarter. Covestor Ltd now owns 6,885 shares of the oil and gas company’s stock worth $53,000 after buying an additional 3,307 shares during the last quarter. Finally, Blue Trust Inc. boosted its position in shares of Patterson-UTI Energy by 263.3% during the 2nd quarter. Blue Trust Inc. now owns 7,597 shares of the oil and gas company’s stock worth $79,000 after purchasing an additional 5,506 shares during the period. 97.91% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on PTEN shares. Raymond James dropped their target price on Patterson-UTI Energy from $12.00 to $11.00 and set a “strong-buy” rating on the stock in a report on Friday, October 25th. Royal Bank of Canada lowered their target price on Patterson-UTI Energy from $12.00 to $11.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. ATB Capital lowered their price objective on Patterson-UTI Energy from $12.00 to $11.00 and set an “outperform” rating for the company in a research report on Wednesday, September 4th. Susquehanna cut their price objective on Patterson-UTI Energy from $13.00 to $10.00 and set a “positive” rating on the stock in a report on Friday, October 11th. Finally, StockNews.com lowered Patterson-UTI Energy from a “hold” rating to a “sell” rating in a research report on Saturday, October 12th. One research analyst has rated the stock with a sell rating, three have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $11.88.

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.