What Technical Indicators Show About Patterson-UTI Energy Inc. (PTEN)

Patterson-UTI Energy Inc. (NASDAQ:PTEN) traded on Tuesday with an addition of $0.14 to $9.99, an upside of 1.47 percent. An average of 1,766,627 shares of common stock have been traded in the last five days. There was a gain of $0.90 in the past week. The last 20 days have seen an average of 1,974,317 shares traded, while the 50-day average volume stands at 1,658,203.

PTEN stock has increased by 23.28% in the last month. The company shares reached their 1-month lowest point of $7.31 on 09/21/21. With the stock rallying to its 52-week high on 06/23/21, shares of the company touched a low of $2.38 and a high of $11.27 in 52 weeks. In spite of this, the price is down -11.31% from the 52-week high.

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Valuation Metrics

Patterson-UTI Energy Inc. (PTEN) has a trailing price-to-earnings (P/E) ratio of 14.70 for the broader industry and 19.13 for the sector. This means investors are optimistic about the stock’s future prospects. In the last five years, Patterson-UTI Energy Inc.’s PE ratio has ranged between 236.30 and 29.30. The stock’s beta is 3.13. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 1.85, the price-to-book (PB) ratio at 1.03, and the price-to-cash flow ratio at 216.50.

Patterson-UTI Energy Inc. will next go ex-dividend on 1-Dec-2021. The next dividend payment Patterson-UTI Energy Inc. will make is expected to be $0.02.

The quick ratio of Patterson-UTI Energy Inc. for the three months ended June 29 was 1.60, and the current ratio was 1.70, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.50 and a total debt to equity ratio of 0.50 for the quarter ending June 29. On the profitability front, the trailing 12-month gross margin is 24.20% against a 5-year average of -18.6%. Patterson-UTI Energy Inc.’s EBITDA margin for the year ending June 29 is 19.30%, while its operating margin for the same period stands at -48.50%. Its gross profit as reported stood at -$892.26 million compared to revenue of $1.12 billion.

For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Patterson-UTI Energy Inc.’s return on assets was -13.10%, compared to -8.5% over the last five years. In the past year, the return on investment has been -26.20%, and the 5-year average is -9.2%. Meanwhile, the return on equity (ROE) for the past 12 months has been -21.80% and the 5-year average holds at -13.6%. For the broader industry, ROE averaged 1.16 over the past year.

Technical Picture

From a technical analysis perspective, let’s take a brief look at Patterson-UTI Energy Inc. (PTEN) price momentum. RSI 9-day as of the close on 04 October was 79.08%, suggesting the stock is Overbought, with historical volatility in this time frame at 43.52%.

As of today, PTEN’s price is $9.48 +9.96% or $0.90 from its 5-day moving average. PTEN is currently trading +28.47% higher than its 20-day SMA and +24.16% higher than its 100-day SMA. However, the stock’s current price level is +19.99% above the SMA50 and +73.98% above the SMA200.

The stochastic %K and %D were 94.69% and 88.51%, respectively, and the average true range (ATR) was 0.49. With the 14-day stochastic at 97.64% and the average true range at 0.48, the RSI (14) stands at 72.07%. The stock has reached 0.56 on the 9-day MACD Oscillator while the 14-day reading was at 1.05.

Analyst Ratings

The consensus rating for Patterson-UTI Energy Inc. (PTEN) among analysts is Hold. According to current brokerage recommendations, 1 brokerage firm advise that investors sell PTEN, while 7 suggest investors hold. There are 2 analysts who rate the stock as underweight. The stock is rated overweight by 2 analysts, while 4 others rate it as a “buy”.

What is PTEN’s price target for the next 12 months?

Analysts predict a range of price targets between $7.50 and $13.00, with a median target of $9.00. Taking a look at these predictions, the average price target given by analysts for Patterson-UTI Energy Inc. (PTEN) stock is $9.65.


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