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Unusual trade of put options on Patterson-UTI Energy (PTEN) worth $243.95,000

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On April 28, 2023 at 10:36:07 a.m. ET, an unusually large $243,95,000 block of Patterson-UTI Energy (PTEN) sales contracts was sold, with a strike price of $9.00/ share, expiring in 49 day(s) (June 16, 2023). Fintel tracks all large options trades, and the premium spent on this trade was 1.18 sigma above the average, placing it in the 88.15th percentile of all recent large options trades made on PTEN options. .

This trade was first detected on Fintel’s real-time options feed tool, where unusual options trades are highlighted.

What is fund sentiment?

There are 708 funds or institutions reporting positions in Patterson-UTI Energy. This is an increase of 45 owner(s) or 6.79% in the last quarter. Average portfolio weight of all funds dedicated to PTEN is 0.26%, a decrease of 1.16%. The total number of shares held by institutions has increased over the past three months by 0.78% to 268,280,000 shares. PTEN’s put/call ratio is 1.98, indicating a bearish outlook.

Analyst price predictions suggest an 80.96% upside

As of April 24, 2023, the one-year average price target for Patterson-UTI Energy was $20.56. The forecast ranges from a low of $13.13 to a high of $27.30. The average price target represents an increase of 80.96% from its last reported closing price of $11.36.

Check out our ranking of companies with the biggest upward price target.

Expected annual revenue for Patterson-UTI Energy is $3,387 million, an increase of 15.60%. Projected annual non-GAAP EPS is $2.15.

What are the other shareholders doing?

PTEN / Patterson-UTI Energy Inc shares held by institutions

Bernzott Capital Advisors owns 798,000 shares representing 0.38% ownership of the company.

Commerce Bank holds 26,000 shares representing 0.01% ownership of the company. In its previous filing, the company said it held 25,000 shares, representing a raise by 1.53%. The company decreases its portfolio allocation to PTEN by 41.80% in the last quarter.

BIGTX – The Texas Fund Class I owns 3K shares representing 0.00% ownership of the company. In its previous filing, the company said it held 5,000 shares, representing a decrease of 101.04%. The company decreases its portfolio allocation to PTEN by 59.38% in the last quarter.

Wedbush Securities owns 15,000 shares representing 0.01% ownership of the company. In its previous filing, the company said it held 14,000 shares, representing a raise of 2.84%. The company decreases its PTEN portfolio allocation of 99.85% in the last quarter.

NORTHWESTERN MUTUAL SERIES FUND INC – Index 600 Stock Portfolio holds 92,000 shares representing 0.04% ownership of the company. In its previous filing, the company said it held 91,000 shares, representing a raise 0.65%. The company increase its portfolio allocation to PTEN by 33.33% in the last quarter.

General Energy Information Patterson-UTI
(This description is provided by the company.)

Patterson-UTI is a leading provider of petroleum services and products to oil and natural gas exploration and production companies in the United States, including contract drilling, pressure pumping and drilling services. directional.

View all Patterson-UTI Energy regulatory filings.

This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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