From MarketBeat:

Arcadia Investment Management Corp MI raised its position in shares of Patterson-UTI Energy, Inc. (NASDAQ:PTEN) by 2,789.1% in the 3rd quarter. The fund owned 174,793 shares of the oil and gas company’s stock after buying an additional 168,743 shares during the quarter. A number of other institutional investors have also modified their holdings of PTEN.

Director Tiffany Thom Cepak sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $11.78, for a total value of $176,700.00. 2.40% of the stock is currently owned by company insiders.

NASDAQ:PTEN traded down $0.07 during trading hours on Friday, reaching $10.80. The business’s 50 day moving average price is $11.79 and its 200-day moving average price is $13.22. The firm has a market cap of $4.51 billion, a PE ratio of 8.18 and a beta of 2.30.

Patterson-UTI Energy, Inc. has a 1-year low of $9.70 and a 1-year high of $17.86. The company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.04). The firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $978.20 million.

The firm also recently declared a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Friday, December 1st were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 2.96%. Patterson-UTI Energy’s payout ratio is 24.24%.

Patterson-UTI Energy, Inc, through its subsidiaries, provides contract drilling services to oil and natural gas operators in the United States and internationally. It operates through three segments: Contract Drilling Services, Pressure Pumping Services, and Directional Drilling Services. The Contract Drilling Services segment markets its contract drilling services primarily in west Texas, Appalachia, Rockies, Oklahoma, South Texas, East Texas, and Colombia.



Read more: Arcadia Investment Management Corp MI Purchases 168,743 Shares of Patterson-UTI Energy, Inc. (NASDAQ:PTEN)