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Patterson-UTI Energy (NASDAQ:PTEN) Director Cloyce A. Talbott sold 400,000 shares of Patterson-UTI Energy stock on the open market in a transaction dated Friday, June 27th. The stock was sold at an average price of $34.49, for a total transaction of $13,796,000.00. Following the completion of the transaction, the director now directly owns 290,476 shares of the company’s stock, valued at approximately $10,018,517. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Patterson-UTI Energy (NASDAQ:PTEN) traded up 0.98% during mid-day trading on Monday, hitting $34.94. 3,885,114 shares of the company’s stock traded hands. Patterson-UTI Energy has a 52-week low of $18.83 and a 52-week high of $35.42. The stock’s 50-day moving average is $33.37 and its 200-day moving average is $29.84. The company has a market cap of $5.005 billion and a P/E ratio of 30.38.

Patterson-UTI Energy (NASDAQ:PTEN) last released its earnings data on Thursday, April 24th. The company reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by $0.01. The company had revenue of $678.00 million for the quarter, compared to the consensus estimate of $679.52 million. During the same quarter in the previous year, the company posted $0.38 earnings per share. The company’s revenue for the quarter was up 1.7% on a year-over-year basis. On average, analysts predict that Patterson-UTI Energy will post $1.42 earnings per share for the current fiscal year.

A number of research firms have recently commented on PTEN. Analysts at Zacks reiterated a “neutral” rating on shares of Patterson-UTI Energy in a research note on Wednesday, June 25th. They now have a $35.00 price target on the stock. Separately, analysts at Wunderlich raised their price target on shares of Patterson-UTI Energy from $29.00 to $34.00 in a research note on Monday, June 9th. They now have a “hold” rating on the stock. Finally, analysts at Cowen and Company raised their price target on shares of Patterson-UTI Energy from $29.00 to $34.00 in a research note on Monday, April 28th. Four investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $31.97.

Patterson-UTI Energy, Inc (NASDAQ:PTEN) owns and operates fleets of land-based drilling rigs in the United States.

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