Monitor The Insider Activity Of Patterson-UTI Energy Inc. (PTEN)

As of Friday close, Patterson-UTI Energy Inc.’s (NASDAQ:PTEN) stock was up $0.82, moving up 5.73 percent to $15.12. The average number of shares traded per day over the past five days has been 3,963,920 shares. 1 time new highs have been achieved over the past 5 days, with a -$1.34 fall in that time frame. In the last twenty days, the average volume was 4,040,975, while in the previous 50 days, it was 4,328,064.

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Since last month, PTEN stock retreated -13.55%. Shares of the company fell to $13.81 on 05/10/22, the lowest level in the past month. A 52-week high of $18.77 was reached on 04/21/22 after having rallying from a 52-week low of $6.44. Since the beginning of this year, PTEN’s stock price has risen by 78.93% or $6.67, and marked a new high 31 times. However, the stock has declined by -19.45% since its 52-week high.

Patterson-UTI Energy Inc. (PTEN) last reported insider trading activity 4 days ago on May 10. Hendricks William Andrew JR, the President & CEO of the company, disposed of 100,000 shares for $14.37 on May 10. It resulted in a $1,437,094 divestment by the insider. Wexler Seth David sold 60,000 shares at an average price of $17.00 on May 04. The insider now owns 323,417 shares following the transaction. On May 03, President-Drilling Subsidiary Holcomb James Michael sold 100,000 shares at $16.53 apiece. The transaction was valued at $1,653,000.

Valuation Metrics

The stock’s beta is 2.40. Besides these, the trailing price-to-sales (P/S) ratio of 1.99, the price-to-book (PB) ratio of 2.07.

The latest dividend of $0.04 per share was paid out, remained unchanged from last year’s $0.04. On Thursday February 10 2022, a $0.02 dividend increase was announced.

Financial Health

In the three months ended September 29, Patterson-UTI Energy Inc.’s quick ratio stood at 1.20, while its current ratio was 1.30, showing that the company is able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending September 29 was 0.54, and the total debt-to-equity ratio was 0.54. On the profitability front, the trailing twelve-month gross margin is 21.10% percent. In the year ended September 29, operating margins totaled -35.60%. Based on annual data, PTEN earned -$677.75 million in gross profit and brought in $1.36 billion in revenue.

A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was -25.00%. Return on equity (ROE) for the past 12 months was -34.30%.

In Patterson-UTI Energy Inc.’s quarter-end financial report for September 29, it reported total debt of $852.53 million. According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. PTEN’s revenue rose 52.7% to $466.49 million during the quarter, while net income inched up to $509.38 million. While analysts expected Patterson-UTI Energy Inc. to report -$0.44 quarterly earnings, the actual figure was -$0.43 per share, beating the consensus estimate by 2.30%. During the quarter, the company generated $98.26 million in EBITDA. The liabilities of Patterson-UTI Energy Inc. were 1.31 billion at the end of its most recent quarter ended September 29, and its total debt was $923.84 million. The value of shareholders’ equity is $216.3 million.

Technical Picture

This quick technical analysis looks at Patterson-UTI Energy Inc.’s (PTEN) price momentum. With a historical volatility rate of 89.91%, the RSI 9-day stood at 43.63% on 13 May.

With respect to its five-day moving average, the current Patterson-UTI Energy Inc. price is down by -8.14% percent or -$1.34. At present, PTEN shares trade -14.43% below its 20-day simple moving average and +95.35% percent above its 100-day simple moving average. However, the stock is currently trading approximately +4.06% above its SMA50 and +80.86% above its SMA200.

Stochastic coefficient K was 20.89% and Stochastic coefficient D was 15.32%, while ATR was 1.13. Given the Stochastic reading of 33.59% for the 14-day period, the RSI (14) reading has been calculated as 45.08%. As of today, the MACD Oscillator reading stands at -0.91, while the 14-day reading stands at -1.23.

Analyst Ratings

The Benchmark Company launched its rating on Patterson-UTI Energy Inc. (NASDAQ: PTEN) to a Buy in a note to investors on April 19, 2022. Patterson-UTI Energy Inc. (PTEN) has been rated Overweight by analysts. According to 2 brokerage firms, PTEN is a sell, and 2 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 2 analysts rate Patterson-UTI Energy Inc. stock as buy, with 10 recommending it as overweight.

With a median target price of $20.00, the current consensus forecast for the stock is $14.00 – $24.00. Based on these forecasts, analysts predict Patterson-UTI Energy Inc. (PTEN) will achieve an average price target of $19.59.


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