As Lockheed Martin Ord (LMT) Stock Price Rose, Holder Canal Insurance Company Trimmed Its Holding; Geosphere Capital Management Raised Holding in Patterson Uti Energy (PTEN) by $345,000 as Market Value Declined

May 20, 2018 - By Maria Brooks

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Arvind Sanger increased its stake in Patterson Uti Energy Inc (PTEN) by 10.71% based on its latest 2017Q4 regulatory filing with the SEC. Geosphere Capital Management bought 15,000 shares as the company’s stock declined 22.71% with the market. The hedge fund run by Arvind Sanger held 155,000 shares of the energy company at the end of 2017Q4, valued at $3.57 million, up from 140,000 at the end of the previous reported quarter. Geosphere Capital Management who had been investing in Patterson Uti Energy Inc for a number of months, seems to be bullish on the $5.10 billion market cap company. The stock decreased 2.62% or $0.62 during the last trading session, reaching $23.01. About 2.40 million shares traded. Patterson-UTI Energy, Inc. (NASDAQ:PTEN) has declined 24.28% since May 20, 2017 and is downtrending. It has underperformed by 35.83% the S&P500.

Canal Insurance Company decreased its stake in Lockheed Martin Ord (LMT) by 3.67% based on its latest 2017Q4 regulatory filing with the SEC. Canal Insurance Company sold 2,200 shares as the company’s stock rose 6.55% while stock markets declined. The institutional investor held 57,800 shares of the military and government and technical company at the end of 2017Q4, valued at $18.56M, down from 60,000 at the end of the previous reported quarter. Canal Insurance Company who had been investing in Lockheed Martin Ord for a number of months, seems to be less bullish one the $91.50 billion market cap company. The stock increased 0.01% or $0.03 during the last trading session, reaching $320.45. About 1.01 million shares traded. Lockheed Martin Corporation (NYSE:LMT) has risen 26.83% since May 20, 2017 and is uptrending. It has outperformed by 15.28% the S&P500.

Among 23 analysts covering Lockheed Martin Corporation (NYSE:LMT), 13 have Buy rating, 0 Sell and 10 Hold. Therefore 57% are positive. Lockheed Martin Corporation had 85 analyst reports since July 21, 2015 according to SRatingsIntel. The rating was initiated by JP Morgan on Thursday, August 25 with “Neutral”. The firm earned “Buy” rating on Wednesday, October 21 by Drexel. Stifel Nicolaus maintained the stock with “Buy” rating in Wednesday, October 25 report. Wells Fargo downgraded the stock to “Market Perform” rating in Tuesday, January 16 report. Credit Suisse reinitiated Lockheed Martin Corporation (NYSE:LMT) on Wednesday, November 18 with “Neutral” rating. The rating was maintained by Stifel Nicolaus on Monday, January 29 with “Buy”. The firm has “Underweight” rating by Barclays Capital given on Monday, November 30. The rating was maintained by Cowen & Co with “Hold” on Monday, July 17. On Thursday, October 6 the stock rating was initiated by Robert W. Baird with “Outperform”. The company was maintained on Wednesday, November 15 by RBC Capital Markets.

More notable recent Lockheed Martin Corporation (NYSE:LMT) news were published by: Bizjournals.com which released: “Lockheed Martin, Northrop Grumman, more, land $41.7M in local defense work” on May 04, 2018, also Bizjournals.com with their article: “Lockheed Martin grabs $40.7M contract for ballistic missile, cracks $600M total for year so far” published on May 17, 2018, Bizjournals.com published: “Lockheed Martin resumes F-35 delivery after repair dispute — and that’s good news for Orlando” on May 09, 2018. More interesting news about Lockheed Martin Corporation (NYSE:LMT) were released by: Bizjournals.com and their article: “How $1B The Grow agrihood project is blossoming after being delayed” published on April 30, 2018 as well as Seekingalpha.com‘s news article titled: “Lockheed Martin Bombs On Good News” with publication date: May 09, 2018.

Investors sentiment decreased to 1.18 in 2017 Q4. Its down 0.06, from 1.24 in 2017Q3. It turned negative, as 37 investors sold LMT shares while 381 reduced holdings. 103 funds opened positions while 390 raised stakes. 218.89 million shares or 1.12% less from 221.38 million shares in 2017Q3 were reported. Founders Cap Mgmt Ltd Co stated it has 2.76% of its portfolio in Lockheed Martin Corporation (NYSE:LMT). Liberty Capital reported 860 shares stake. Neuberger Berman Group Limited Liability has invested 0.1% of its portfolio in Lockheed Martin Corporation (NYSE:LMT). Maple Capital Management holds 0.3% in Lockheed Martin Corporation (NYSE:LMT) or 3,591 shares. Martin Currie, United Kingdom-based fund reported 28,595 shares. Berkshire Asset Management Limited Liability Corp Pa invested 1.58% of its portfolio in Lockheed Martin Corporation (NYSE:LMT). 44,712 are held by Strategy Asset Managers Limited Com. Invesco holds 805,672 shares or 0.09% of its portfolio. Commercial Bank Of Nova Scotia reported 0.4% stake. Canada Pension Plan Investment Board has invested 0.14% of its portfolio in Lockheed Martin Corporation (NYSE:LMT). Canandaigua Bankshares And Trust, New York-based fund reported 12,131 shares. 52,826 are held by Investec Asset Mngmt. Cullen Frost Bankers stated it has 0.1% in Lockheed Martin Corporation (NYSE:LMT). Putnam Investments Limited Liability reported 3,766 shares or 0% of all its holdings. Eads Heald Invest Counsel invested in 2,602 shares.

Since January 29, 2018, it had 0 insider buys, and 2 selling transactions for $9.28 million activity. Another trade for 19,000 shares valued at $6.59 million was made by HEWSON MARILLYN A on Monday, January 29.

Analysts await Lockheed Martin Corporation (NYSE:LMT) to report earnings on July, 17. They expect $3.85 earnings per share, up 19.20% or $0.62 from last year’s $3.23 per share. LMT’s profit will be $1.10B for 20.81 P/E if the $3.85 EPS becomes a reality. After $4.02 actual earnings per share reported by Lockheed Martin Corporation for the previous quarter, Wall Street now forecasts -4.23% negative EPS growth.

Canal Insurance Company, which manages about $280.89 million US Long portfolio, upped its stake in At&T Ord (NYSE:T) by 88,800 shares to 98,800 shares, valued at $3.84 million in 2017Q4, according to the filing. It also increased its holding in Royal Dutch Shell Adr Rpstg 2 A Ord by 15,000 shares in the quarter, for a total of 75,000 shares, and has risen its stake in Orbital Atk Ord.

Geosphere Capital Management, which manages about $162.13M and $56.79M US Long portfolio, decreased its stake in Diamondback Energy Inc (NASDAQ:FANG) by 6,000 shares to 24,000 shares, valued at $3.03M in 2017Q4, according to the filing.

Another recent and important Patterson-UTI Energy, Inc. (NASDAQ:PTEN) news was published by Seekingalpha.com which published an article titled: “Patterson-UTI Energy (PTEN) Q1 2018 Results – Earnings Call Transcript” on April 26, 2018.

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. As per Tuesday, September 5, the company rating was maintained by Piper Jaffray. Seaport Global maintained Patterson-UTI Energy, Inc. (NASDAQ:PTEN) on Monday, February 12 with “Hold” rating. As per Friday, October 23, the company rating was maintained by Cowen & Co. The stock of Patterson-UTI Energy, Inc. (NASDAQ:PTEN) has “Hold” rating given on Wednesday, September 9 by Tudor Pickering. Cowen & Co maintained the stock with “Hold” rating in Friday, February 9 report. The stock of Patterson-UTI Energy, Inc. (NASDAQ:PTEN) earned “Sector Perform” rating by Howard Weil on Monday, June 20. The stock of Patterson-UTI Energy, Inc. (NASDAQ:PTEN) has “Underweight” rating given on Friday, April 15 by JP Morgan. Stephens maintained Patterson-UTI Energy, Inc. (NASDAQ:PTEN) on Monday, April 18 with “Underweight” rating. Piper Jaffray maintained the shares of PTEN in report on Thursday, July 27 with “Buy” rating. The stock of Patterson-UTI Energy, Inc. (NASDAQ:PTEN) earned “Buy” rating by Jefferies on Thursday, August 31.

Investors sentiment decreased to 1.38 in 2017 Q4. Its down 0.03, from 1.41 in 2017Q3. It turned negative, as 20 investors sold PTEN shares while 84 reduced holdings. 49 funds opened positions while 94 raised stakes. 212.21 million shares or 2.46% more from 207.11 million shares in 2017Q3 were reported. Arosa Mngmt Ltd Partnership invested in 688,302 shares or 2.43% of the stock. New Generation Llc reported 178,626 shares. Morgan Stanley has invested 0.01% of its portfolio in Patterson-UTI Energy, Inc. (NASDAQ:PTEN). Utah Retirement Systems has invested 0.02% in Patterson-UTI Energy, Inc. (NASDAQ:PTEN). Moreover, South Dakota Inv Council has 0.02% invested in Patterson-UTI Energy, Inc. (NASDAQ:PTEN) for 36,000 shares. Strs Ohio invested in 0.19% or 1.96 million shares. Gateway Advisers Ltd Liability Company has 373,380 shares. Aqr Mngmt Ltd Limited Liability Company reported 0.01% stake. Prudential Public Limited Company reported 4.68M shares stake. Falcon Point Limited Liability has invested 0.04% in Patterson-UTI Energy, Inc. (NASDAQ:PTEN). State Street has invested 0.01% of its portfolio in Patterson-UTI Energy, Inc. (NASDAQ:PTEN). 65,432 were accumulated by Cubist Systematic Strategies Ltd. Pub Employees Retirement Association Of Colorado accumulated 0.01% or 36,766 shares. Commonwealth Bankshares Of Australia holds 655,248 shares. Moreover, Pnc Fincl Services Gp Inc Inc has 0% invested in Patterson-UTI Energy, Inc. (NASDAQ:PTEN) for 29,231 shares.

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