As of Friday close, Patterson-UTI Energy Inc.’s (NASDAQ:PTEN) stock was down -$0.36, moving down -2.30 percent to $15.27. The average number of shares traded per day over the past five days has been 3,625,360 shares. 1 time new highs have been achieved over the past 5 days, with a $0.02 gain in that time frame. In the last twenty days, the average volume was 4,061,295, while in the previous 50 days, it was 4,301,346.
Since last month, PTEN stock rose 27.36%. Shares of the company fell to $11.65 on 07/06/23, the lowest level in the past month. A 52-week high of $19.81 was reached on 01/12/23 after having rallying from a 52-week low of $9.70. Since the beginning of this year, PTEN’s stock price has dropped by -9.32% or -$1.57, and marked a new high 4 times. However, the stock has declined by -22.92% since its 52-week high.
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PTEN stock investors should be aware that Patterson-UTI Energy Inc. (PTEN) stock had its last reported insider trading activity 11 days ago on Jul 25. Holcomb James Michael, the Chief Operating Officer of the company, disposed of 8,802 shares for $15.47 on Jul 25. It resulted in a $136,167 divestment by the insider. Hendricks William Andrew JR sold 200,000 shares at an average price of $14.84 on Jul 18. The insider now owns 1,886,874 shares following the transaction. On Jul 18, Chief Operating Officer Holcomb James Michael sold 5,904 shares at $14.96 apiece. The transaction was valued at $88,324.
Valuation Metrics
Right now, Patterson-UTI Energy Inc. (PTEN) has a P/E ratio of about 9.54. The stock’s beta is 2.38. Besides these, the trailing price-to-sales (P/S) ratio of 1.06, the price-to-book (PB) ratio of 1.94, and the price-to-cash flow ratio of 37.50 may also be considered.
The latest dividend of $0.08 per share was paid out, remained unchanged from last year’s $0.08.
Financial Health
In the three months ended June 29, Patterson-UTI Energy Inc.’s quick ratio stood at 1.50, while its current ratio was 1.60, 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 June 29 was 0.49, and the total debt-to-equity ratio was 0.49. On the profitability front, the trailing twelve-month gross margin is 34.20% percent. In the year ended June 29, EBITDA margin amounted to 25.82%, whereas operating margins totaled 6.90%. Based on annual data, PTEN earned $211.03 million in gross profit and brought in $2.65 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 7.90%. Return on equity (ROE) for the past 12 months was 9.40%.
In Patterson-UTI Energy Inc.’s quarter-end financial report for June 29, it reported total debt of $822.41 million. According to the earnings report, the company had a lower net income in the recent quarter than it did in the previous quarter. PTEN’s revenue rose 18.01% to $791.8 million during the quarter, while net income inched up to $758.89 million. While analysts expected Patterson-UTI Energy Inc. to report $0.44 quarterly earnings, the actual figure was $0.45 per share, beating the consensus estimate by 2.30%. During the quarter, the company generated $231.0 million in EBITDA. The liabilities of Patterson-UTI Energy Inc. were 1.4 billion at the end of its most recent quarter ended June 29, and its total debt was $844.45 million. The value of shareholders’ equity is $207.99 million.
Technical Picture
This quick technical analysis looks at Patterson-UTI Energy Inc.’s (PTEN) price momentum. With a historical volatility rate of 28.37%, the RSI 9-day stood at 57.92% on 04 August.
With respect to its five-day moving average, the current Patterson-UTI Energy Inc. price is up by +0.13% percent or $0.02. At present, PTEN shares trade +17.37% above its 20-day simple moving average and +20.81% percent above its 100-day simple moving average. However, the stock is currently trading approximately +39.45% above its SMA50 and +12.11% above its SMA200.
Stochastic coefficient K was 75.53% and Stochastic coefficient D was 83.78%, while ATR was 0.53. Given the Stochastic reading of 57.94% for the 14-day period, the RSI (14) reading has been calculated as 62.16%. As of today, the MACD Oscillator reading stands at -0.03, while the 14-day reading stands at 0.17.
Analyst Ratings
The Benchmark Company upgraded its rating on Patterson-UTI Energy Inc. (NASDAQ: PTEN) to a Buy in a note to investors on July 19, 2023. The analysts firm previously had a Hold rating on the stock.Patterson-UTI Energy Inc. (PTEN) has been rated Overweight by analysts. According to 0 brokerage firms, PTEN is a sell, and 6 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 3 analysts rate Patterson-UTI Energy Inc. stock as buy, with 8 recommending it as overweight.
With a median target price of $18.00, the current consensus forecast for the stock is $14.00 – $22.00. Based on these forecasts, analysts predict Patterson-UTI Energy Inc. (PTEN) will achieve an average price target of $17.53.
