Patterson-UTI Energy (NASDAQ:PTEN) Upgraded by Scotiabank to "Sector Outperform"

Kahn Brothers Group Inc who had been investing in Patterson Energy for a number of months, seems to be bullish on the $5.33 billion market cap company.

Shares of Patterson-UTI Energy (NASDAQ PTEN) traded up $0.23 during trading hours on Tuesday, reaching $24.27. About 1.73M shares traded or 11.33% up from the average. It has underperformed by 17.33% the S&P500.

New Generation Advisors Llc decreased its stake in Patterson (PTEN) by 22.35% based on its latest 2017Q3 regulatory filing with the SEC. Elm Ridge Management Llc sold 37,954 shares as Patterson Uti Energy Inc (PTEN)'s stock declined 16.81%. The hedge fund held 258,458 shares of the energy company at the end of 2017Q3, valued at $5.41M, down from 332,858 at the end of the previous reported quarter. PNC Financial Services Group Inc. now owns 10,392 shares of the oil and gas company's stock worth $210,000 after buying an additional 1,089 shares in the last quarter. Its share price has risen 18.04% in three months and is up 0.29% for the last five trades. It has outperformed by 16.21% the S&P500.

Quotient Investors Llc, which manages about $423.26M and $145.88 million US Long portfolio, upped its stake in Celgene Corp Com (NASDAQ:CELG) by 4,289 shares to 7,775 shares, valued at $1.13M in 2017Q3, according to the filing. It also reduced its holding in Hortonworks Inc (NASDAQ:HDP) by 528,550 shares in the quarter, leaving it with 577,341 shares, and cut its stake in Mindbody Inc.

CBRE CLARION SECURITIES LLC also announced decreased position in Sunstone Hotel Investors, Inc. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.16 and a current ratio of 1.23. Buckingham Capital Mngmt Inc owns 418,047 shares. Gamco Invsts Et Al reported 18,340 shares. Rampart Management Limited Com owns 0.04% invested in CF Industries Holdings, Inc. Pnc Services holds 9,996 shares. The original version of this story can be viewed at https://stocknewstimes.com/2018/01/18/stephens-initiates-coverage-on-patterson-uti-energy-pten.html. Bridgewater Associates Lp invested 0.07% in Facebook, Inc. (NYSE:CF) to report earnings on February, 21. (NYSE:CF). Cibc Asset Mgmt Incorporated invested in 33,271 shares or 0.01% of the stock. (NYSE:DHI). Viking Global LP reported 0.4% of its portfolio in D.R. Horton, Inc. Institutional investors own 97.71% of the company's stock. (NYSE:CF) for 29,910 shares. State Bank invested in 0.01% or 18,577 shares. Metropolitan Life New York holds 0.05% or 360,965 shares in its portfolio. (NYSE:CF) for 1.32M shares. Swiss Bankshares holds 357,200 shares.

Arsenal vs Crystal Palace, Premier League preview
Meanwhile Andros Towsend and Ruben Loftus-Cheek will also miss the game with the latter possibly needing surgery on his ankle. A win over Crystal Palace will calm many angry Arsenal fans but it will not be easy since they are up against a quality side.

Since September 7, 2017, it had 0 insider buys, and 1 sale for $85,665 activity. $109.70M worth of Facebook, Inc. (NYSE:DHI) was sold by Hewatt Michael W on Friday, September 8. Seven equities research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. Therefore 33% are positive. Analysts reported that the Price Target for Patterson-UTI Energy Inc. might touch $34 high while the Average Price Target and Low price Target is $26 and $14 respectively. Cowen restated a "hold" rating and set a $24.00 price target on shares of Patterson-UTI Energy in a research note on Sunday, September 17th. The rating was maintained by Argus Research with "Buy" on Thursday, August 25. The rating was upgraded by Wells Fargo to "Outperform" on Monday, January 11. The stock has "Hold" rating by Bank of America on Tuesday, October 24. The stock has "Buy" rating by William Blair on Thursday, October 12. The firm earned "Underweight" rating on Friday, April 15 by JP Morgan.

According to 29 stock analysts, FireEye, Inc., is being kept at an average Outperform, rating, with at least 14.07% of shares outstanding that are now legally short sold. The rating was maintained by RBC Capital Markets with "Buy" on Thursday, July 20.

Investors sentiment decreased to 1.41 in Q3 2017. Its up 0.12, from 1.06 in 2017Q2.

Institutional investors and hedge funds have recently bought and sold shares of the business. 128 funds opened positions while 644 raised stakes. 250.53 million shares or 1.86% less from 255.28 million shares in 2017Q2 were reported. Pinnacle Assoc Ltd has 177,761 shares for 0.12% of their portfolio. Further, company shares have been seen trading -18.45% off of the 52 week high and 63.65% away from the 52 week low. Cap One National Association reported 116,069 shares stake. Morgan Stanley reported 0.01% in Patterson-UTI Energy, Inc. Bank Of America Corporation De has 0.01% invested in Patterson-UTI Energy, Inc. (NASDAQ:PTEN) on Wednesday, March 9 with "Positive" rating. Los Angeles Mngmt & Equity Research has invested 0.03% in Patterson-UTI Energy, Inc. (NASDAQ:PTEN) on Monday, June 20 with "Sector Perform" rating. Mason Street Ltd Liability Corp stated it has 105,893 shares or 0.05% of all its holdings. Cwm Limited Co accumulated 46,857 shares or 0.1% of the stock. Patterson Uti Energy Inc now has $5.31 billion valuation. (NASDAQ:PTEN). Bnp Paribas Arbitrage holds 261,427 shares or 0.01% of its portfolio. Citigroup reported 0.01% of its portfolio in Patterson-UTI Energy, Inc.

Sell-side analyst recommendations point to a short term price target of $26 on the shares of Patterson-UTI Energy, Inc. Therefore 14% are positive. Patterson-UTI Energy Inc had 98 analyst reports since July 28, 2015 according to SRatingsIntel. Strategic Ltd Liability Company stated it has 0.19% of its portfolio in Patterson-UTI Energy, Inc. RBC Capital Markets maintained it with "Underperform" rating and $27 target in Tuesday, October 17 report. (NASDAQ:FB) has "Buy" rating given on Friday, July 21 by Cantor Fitzgerald. (NASDAQ:PTEN) has "Buy" rating given on Thursday, October 12 by Piper Jaffray. (NYSE:CBB) earned "Buy" rating by Gabelli on Thursday, October 6.

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