The stock of Patterson-UTI Energy Inc. (NASDAQ:PTEN) increased by $0.24 on Tuesday to finish at $14.25, up 1.71 percent. The last five days have seen an average of 2,989,160 shares of common stock traded. 4 times new highs were reached in the current year, with a fall of -$2.59. The average number of shares traded over the last 20 days was 2,765,705, while the average volume over the last 50 days totaled 3,602,262.
PTEN stock dropped -10.04% since last month. On 08/23/23, the company’s shares reached a one-month low of $13.83. The stock touched a high of $19.81 on 01/12/23, after rallying from a low of $9.70 in 52 weeks. The price of PTEN stock has declined by -15.38% or -$2.59 this year, reaching a new high 4 times. Still, the stock price is down -28.07% from the 52-week high.
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Insider Transactions
PTEN stock investors should be aware that Patterson-UTI Energy Inc. (PTEN) stock had its last reported insider trading activity 36 days ago on Jul 25. On Jul 25, Chief Operating Officer Holcomb James Michael sold 8,802 shares at $15.47 each. This transaction resulted in the insider making $136,167. On Jul 18, Hendricks William Andrew JR sold 200,000 shares at a price of US$14.84. After the transaction, the insider now owns 1,886,874 shares. Chief Operating Officer Holcomb James Michael had earlier sold 5,904 shares on Jul 18 for $14.96 a share. The transaction was completed for $88,324.
Valuation Metrics
Patterson-UTI Energy Inc. (PTEN) has a trailing price-to-earnings (P/E) ratio of 8.90. Beta for the stock is 2.39. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 1.13, the price-to-book (PB) ratio of 1.72, and the price-to-cash flow ratio of 9.08.
Company paid $0.08 per share in dividends, remained unchanged from $0.08 last year.
Financial Health
For the three months ended June 29, Patterson-UTI Energy Inc.’s quick ratio was 1.60, while its current ratio was 1.80, indicating its ability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending June 29 is 0.48, and the total debt to equity ratio is 0.48. As far as profitability goes, gross margin for the trailing twelve months is 34.20% percent. Patterson-UTI Energy Inc.’s EBITDA margin for the year ended June 29 was 25.82%, whereas its operating margin stood at 13.80% for the same period. Based on annual data, it had gross profit of $211.03 million and revenue of $2.65 billion.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. PTEN’s return on assets (ROA) during the last 12 months has been 11.20%. There was a 7.90% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 20.70%.
Earnings Surprise
According to Patterson-UTI Energy Inc.’s quarterly financial report for the quarter that ended June 29. A lower net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $758.89 million, while revenues rose by 18.01% to $791.8 million. It was predicted that Patterson-UTI Energy Inc.’s quarterly earnings would be $0.4, but it ended up being $0.44, beating the consensus by -9.10%. EBITDA was $231.0 million for the quarter. At the end of Patterson-UTI Energy Inc.’s most recent quarter ended June 29, its liabilities totaled 1.4 billion, while its total debt was $844.45 million. Equity owned by shareholders amounts to $207.99 million.
Technical Picture
Here’s a quick look at Patterson-UTI Energy Inc.’s (PTEN) price momentum from a technical perspective. As of 29 August, the RSI 9-day stood at 41.44%, suggesting the stock is Neutral, with a 17.01% historical volatility rate.
The stochastic %K and %D were 13.87% and 12.79% respectively, while the average true range (ATR) was 0.48. Based on the 14-day stochastic reading of 22.95%, the RSI (14) reading is 46.28%. On the 9-day MACD Oscillator, the stock is at -0.18, and the 14-day reading is at -0.39.
Analyst Ratings
In its most recent analyst report, The Benchmark Company raised its rating on Patterson-UTI Energy Inc. (NASDAQ: PTEN) to a Buy. Prior to this, analysts firm rated the stock as a Hold. Analysts have assigned Patterson-UTI Energy Inc. (PTEN) an Overweight rating. PTEN is a stock that is recommended for selling by 0 brokerage firms, while 6 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 2 rates it overweight and 9 others recommend it as a buy.
What is PTEN’s price target for the next 12 months?
The current consensus forecast for the stock is between $14.00 and $22.00, with a median target price of $18.00. In analyzing these forecasts, the average price target given by analysts for Patterson-UTI Energy Inc. (PTEN) is $17.97.
