Bingham Osborn & Scarborough Lifted Holding in Wells Fargo Co New (WFC) by $538,560 as Market Valuation Declined; Patterson Uti Energy (PTEN) Holder Penn Capital Management Co Has Upped Holding by $451,858

May 23, 2018 - By Migdalia James

Wells Fargo & Company (NYSE:WFC) Logo

Scott A. Bedford increased its stake in Patterson Uti Energy Inc (PTEN) by 31.66% based on its latest 2017Q4 regulatory filing with the SEC. Penn Capital Management Co Inc bought 19,646 shares as the company’s stock declined 22.71% with the market. The hedge fund run by Scott A. Bedford held 81,690 shares of the energy company at the end of 2017Q4, valued at $1.91 million, up from 62,044 at the end of the previous reported quarter. Penn Capital Management Co Inc who had been investing in Patterson Uti Energy Inc for a number of months, seems to be bullish on the $4.96B market cap company. The stock decreased 0.36% or $0.08 during the last trading session, reaching $22.36. About 1.77 million shares traded. Patterson-UTI Energy, Inc. (NASDAQ:PTEN) has declined 24.28% since May 23, 2017 and is downtrending. It has underperformed by 35.83% the S&P500.

Bingham Osborn & Scarborough Llc increased its stake in Wells Fargo Co New (WFC) by 7.18% based on its latest 2017Q4 regulatory filing with the SEC. Bingham Osborn & Scarborough Llc bought 8,976 shares as the company’s stock declined 16.98% with the market. The institutional investor held 134,051 shares of the major banks company at the end of 2017Q4, valued at $8.13M, up from 125,075 at the end of the previous reported quarter. Bingham Osborn & Scarborough Llc who had been investing in Wells Fargo Co New for a number of months, seems to be bullish on the $272.39B market cap company. The stock increased 1.16% or $0.64 during the last trading session, reaching $55.9. About 15.75M shares traded. Wells Fargo & Company (NYSE:WFC) has declined 7.75% since May 23, 2017 and is downtrending. It has underperformed by 19.30% the S&P500.

Investors sentiment increased to 0.75 in Q4 2017. Its up 0.02, from 0.73 in 2017Q3. It is positive, as 63 investors sold WFC shares while 746 reduced holdings. 138 funds opened positions while 466 raised stakes. 3.64 billion shares or 0.11% less from 3.65 billion shares in 2017Q3 were reported. Moreover, Pekin Singer Strauss Asset Mngmt Il has 0.09% invested in Wells Fargo & Company (NYSE:WFC). Virtus Investment Advisers has 0.69% invested in Wells Fargo & Company (NYSE:WFC). Bbva Compass State Bank Inc stated it has 129,216 shares. Birinyi Assocs owns 15,000 shares. State Treasurer State Of Michigan accumulated 4.40M shares. Lenox Wealth Advsr owns 98 shares. Foster Dykema Cabot & Ma holds 28,763 shares. 7,483 were reported by Excalibur Mgmt. Sprucegrove Management accumulated 556,460 shares. Buckingham Asset Management Ltd Liability Company owns 34,501 shares or 0.44% of their US portfolio. Qs Invsts Limited Liability owns 0.12% invested in Wells Fargo & Company (NYSE:WFC) for 204,829 shares. Alecta Pensionsforsakring Omsesidigt stated it has 15.04 million shares or 7.42% of all its holdings. Utd Fire Gru invested in 255,086 shares or 5.05% of the stock. E&G Limited Partnership has invested 0.22% in Wells Fargo & Company (NYSE:WFC). Auxier Asset has invested 0.3% in Wells Fargo & Company (NYSE:WFC).

Among 39 analysts covering Wells Fargo & Company (NYSE:WFC), 17 have Buy rating, 8 Sell and 14 Hold. Therefore 44% are positive. Wells Fargo & Company had 149 analyst reports since July 29, 2015 according to SRatingsIntel. The rating was maintained by BMO Capital Markets with “Hold” on Friday, January 12. The firm has “Hold” rating by Berenberg given on Wednesday, July 13. The stock of Wells Fargo & Company (NYSE:WFC) earned “Hold” rating by Jefferies on Friday, July 7. As per Wednesday, May 31, the company rating was maintained by BMO Capital Markets. The rating was downgraded by Wood to “Market Perform” on Monday, February 5. On Monday, April 23 the stock rating was maintained by Susquehanna with “Hold”. Citigroup downgraded Wells Fargo & Company (NYSE:WFC) on Monday, February 5 to “Hold” rating. The stock of Wells Fargo & Company (NYSE:WFC) earned “Buy” rating by RBC Capital Markets on Thursday, June 22. On Thursday, December 21 the stock rating was upgraded by Buckingham Research to “Buy”. As per Friday, February 2, the company rating was maintained by Morgan Stanley.

More notable recent Wells Fargo & Company (NYSE:WFC) news were published by: 247Wallst.com which released: “Wells Fargo’s Tim Sloan Remains One of America’s Worst CEOs” on May 05, 2018, also Finance.Yahoo.com with their article: “The 2 Most Important Reasons Warren Buffett Reads Annual Reports” published on May 23, 2018, Seekingalpha.com published: “Tracking David Tepper’s Appaloosa Management Portfolio – Q1 2018 Update” on May 21, 2018. More interesting news about Wells Fargo & Company (NYSE:WFC) were released by: Seekingalpha.com and their article: “Wells Fargo: Where Is The Upside?” published on May 03, 2018 as well as Bizjournals.com‘s news article titled: “Wells Fargo taps JPMorgan Chase exec as chief risk officer” with publication date: May 07, 2018.

Bingham Osborn & Scarborough Llc, which manages about $2.87B and $1.10B US Long portfolio, decreased its stake in Ishares Tr (EFA) by 13,879 shares to 209,750 shares, valued at $14.75M in 2017Q4, according to the filing. It also reduced its holding in Vanguard World Fds (VGT) by 38,201 shares in the quarter, leaving it with 403,540 shares, and cut its stake in Ishares Tr (IVV).

Among 31 analysts covering Patterson-UTI Energy Inc (NASDAQ:PTEN), 22 have Buy rating, 0 Sell and 9 Hold. Therefore 71% are positive. Patterson-UTI Energy Inc had 110 analyst reports since July 28, 2015 according to SRatingsIntel. Howard Weil maintained it with “Sector Perform” rating and $22 target in Monday, June 20 report. RBC Capital Markets maintained Patterson-UTI Energy, Inc. (NASDAQ:PTEN) rating on Friday, November 3. RBC Capital Markets has “Buy” rating and $29.0 target. RBC Capital Markets maintained Patterson-UTI Energy, Inc. (NASDAQ:PTEN) rating on Friday, April 29. RBC Capital Markets has “Outperform” rating and $22 target. Citigroup maintained Patterson-UTI Energy, Inc. (NASDAQ:PTEN) on Thursday, October 5 with “Buy” rating. JP Morgan upgraded the shares of PTEN in report on Wednesday, December 7 to “Neutral” rating. On Friday, June 23 the stock rating was maintained by RBC Capital Markets with “Buy”. On Wednesday, September 9 the stock rating was downgraded by Tudor Pickering to “Hold”. On Thursday, August 31 the stock rating was maintained by Jefferies with “Buy”. The stock of Patterson-UTI Energy, Inc. (NASDAQ:PTEN) has “Buy” rating given on Friday, December 11 by Citigroup. Cowen & Co maintained Patterson-UTI Energy, Inc. (NASDAQ:PTEN) on Friday, July 29 with “Outperform” rating.

Since March 13, 2018, it had 0 insider buys, and 1 sale for $194,600 activity.

Patterson-UTI Energy, Inc. (NASDAQ:PTEN) Institutional Positions Chart

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