Economy

Investec Asset Management LTD Takes Position in Patterson-UTI Energy, Inc. (PTEN)

Investec Asset Management LTD Takes Position in Patterson-UTI Energy, Inc. (PTEN)”

About 2.77 million shares traded. For the quarter, shares have been noted at -7.66%. It has outperformed by 16.21% the S&P500.The move comes after 9 months positive chart setup for the $4.33B company. The value of the investment in Patterson-UTI Energy, Inc. decreased from $5,588,000 to $4,848,000 a change of 13.2% for the reporting period.

For the current quarter, 24 analysts are projecting a mean EPS of $-0.18/share. Delta Air Lines Inc Del now has $35.34 billion valuation. Eqis Mngmt accumulated 16,499 shares or 0.02% of the stock.

About 56,828 shares traded. Delta Air Lines, Inc. (PTEN) has risen 32.91% since September 25, 2016 and is uptrending. It has underperformed by 27.33% the S&P500. Year to Date (YTD) performance of Patterson-UTI Energy Inc. The company has market cap of $4.36 billion. The Company owns and operates a fleet of land-based drilling rigs and a fleet of pressure pumping equipment in the United States. It now has negative earnings. The Company is also engaged in the development, exploration, acquisition & production of oil and natural gas; however, due to the substantial growth in the Company's drilling contract operations, the oil & natural gas operations are no longer material to the Company's overall operations.

Investors sentiment increased to 1.66 in Q2 2017. Looking at some alternate time periods, the 12 month price index is 0.99539, the 24 month is 1.46265, and the 36 month is 0.60318. Keybank National Association acquired 28,709 shares as Patterson Uti Energy Inc (PTEN)'s stock declined 16.81%. 52 funds opened positions while 122 raised stakes. 389.74 million shares or 0.52% less from 391.76 million shares in 2017Q1 were reported. 88,737 were reported by Creative Planning. Citadel Advsr Ltd Limited Liability Company has 6.89 million shares.

PTEN has been the topic of a number of research analyst reports. Canada Pension Plan Invest Board holds 130,100 shares or 0.01% of its portfolio.

TRADEMARK VIOLATION NOTICE: "Patterson-UTI Energy, Inc". The legal version of this news story can be viewed at https://weekherald.com/2017/09/26/investec-asset-management-ltd-invests-14-46-million-in-patterson-uti-energy-inc-pten.html. Bessemer Gru has invested 0% of its portfolio in Patterson-UTI Energy, Inc. (NASDAQ:PTEN) for 87,038 shares. Goldman Sachs downgraded Patterson-UTI Energy, Inc. (NASDAQ:PTEN). Symphony Asset Limited Liability Corporation stated it has 73,721 shares. Mraz Amerine & Assoc holds 0.22% or 34,600 shares in its portfolio. Kahn Brothers Group Inc Inc De holds 922,906 shares. Energy Opportunities Mngmt Lc holds 6.15% or 558,561 shares in its portfolio. Patterson-UTI Energy, Inc. (NASDAQ:PTEN), at its latest closing price of $20.47, it has a price-to-book ratio of 0.00, compared to an industry average at 0.67. Therefore 22% are positive. Patterson-UTI Energy Inc had 83 analyst reports since July 28, 2015 according to SRatingsIntel. The stock has "Neutral" rating by Seaport Global on Wednesday, June 21. (NASDAQ:PTEN). Citigroup owns 10,992 shares. The ex-dividend date was Wednesday, September 6th. Guggenheim upgraded the shares of PTEN in report on Tuesday, February 14 to "Buy" rating. The rating was maintained by Cowen & Co with "Outperform" on Friday, October 23. (NASDAQ:PTEN) on Friday, October 28 with "Sector Perform" rating.

Since January 1, 0001, it had 0 buys, and 9 selling transactions for $12.93 million activity. The insider Bastian Edward H sold 25,000 shares worth $1.21 million. The forecast of 2 surveyed investment analysts covering the stock advises investors to Buy stake in the company. The firm has "Overweight" rating given on Friday, July 14 by Morgan Stanley. As per Thursday, January 19, the company rating was downgraded by Cowen & Co. (NYSE:DAL) rating on Monday, December 5. Wedbush has "Outperform" rating and $70.0 target. Also Finance.Yahoo.com published the news titled: "Is It Time To Buy Patterson-UTI Energy Inc (PTEN)?" on September 17, 2017. As per Friday, June 23, the company rating was maintained by RBC Capital Markets. Wedbush maintained Splunk Inc (NASDAQ:SPLK) rating on Friday, August 19. The company was maintained on Tuesday, September 5 by Piper Jaffray. Stephens initiated it with "Overweight" rating and $65 target in Tuesday, March 29 report.

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