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Is a Correction Looming Ahead for Patterson-UTI Energy Inc. (PTEN)

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Patterson-UTI Energy Inc. (NASDAQ:PTEN) went up by 2.81% from its latest closing price compared to the recent 1-year high of $11.27. The company’s stock price has collected 7.21% of gains in the last five trading sessions. Press Release reported on 01/06/22 that Patterson-UTI Reports Drilling Activity for December 2021

Is It Worth Investing in Patterson-UTI Energy Inc. (NASDAQ :PTEN) Right Now?

Plus, the 36-month beta value for PTEN is at 2.97. Opinions of the stock are interesting as 10 analysts out of 16 who provided ratings for Patterson-UTI Energy Inc. declared the stock was a “buy,” while 1 rated the stock as “overweight,” 4 rated it as “hold,” and 1 as “sell.”

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The average price from analysts is $11.00, which is $0.89 above the current price. PTEN currently public float of 211.14M and currently shorts hold a 4.35% ratio of that float. Today, the average trading volume of PTEN was 3.17M shares.

PTEN’s Market Performance

PTEN stocks went up by 7.21% for the week, with a monthly jump of 13.25% and a quarterly performance of 16.33%, while its annual performance rate touched 55.57%. The volatility ratio for the week stands at 5.20% while the volatility levels for the past 30 days are set at 5.30% for Patterson-UTI Energy Inc.. The simple moving average for the period of the last 20 days is 16.96% for PTEN stocks with a simple moving average of 22.07% for the last 200 days.

Analysts’ Opinion of PTEN

Many brokerage firms have already submitted their reports for PTEN stocks, with Piper Sandler repeating the rating for PTEN by listing it as a “Overweight.” The predicted price for PTEN in the upcoming period, according to Piper Sandler is $10.25 based on the research report published on December 21st of the previous year 2021.

Citigroup, on the other hand, stated in their research note that they expect to see PTEN reach a price target of $11. The rating they have provided for PTEN stocks is “Buy” according to the report published on December 10th, 2021.

Morgan Stanley gave a rating of “Overweight” to PTEN, setting the target price at $12 in the report published on December 07th of the previous year.

PTEN Trading at 21.17% from the 50-Day Moving Average

After a stumble in the market that brought PTEN to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -8.96% of loss for the given period.

Volatility was left at 5.30%, however, over the last 30 days, the volatility rate increased by 5.20%, as shares surge +20.85% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +19.86% upper at present.

During the last 5 trading sessions, PTEN rose by +7.21%, which changed the moving average for the period of 200-days by +44.20% in comparison to the 20-day moving average, which settled at $8.86. In addition, Patterson-UTI Energy Inc. saw 21.42% in overturn over a single year, with a tendency to cut further gains.

Insider Trading

Reports are indicating that there were more than several insider trading activities at PTEN starting from HUNT TERRY H, who sale 7,500 shares at the price of $8.67 back on Dec 30. After this action, HUNT TERRY H now owns 100,145 shares of Patterson-UTI Energy Inc., valued at $65,025 using the latest closing price.

Stock Fundamentals for PTEN

Current profitability levels for the company are sitting at:

  • -40.49 for the present operating margin
  • -31.01 for the gross margin

The net margin for Patterson-UTI Energy Inc. stands at -71.49. The total capital return value is set at -13.43, while invested capital returns managed to touch -23.77. Equity return is now at value -21.40, with -12.70 for asset returns.

Based on Patterson-UTI Energy Inc. (PTEN), the company’s capital structure generated 46.02 points at debt to equity in total, while total debt to capital is 31.51. Total debt to assets is 25.01, with long-term debt to equity ratio resting at 45.66. Finally, the long-term debt to capital ratio is 31.27.

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When we switch over and look at the enterprise to sales, we see a ratio of 2.56, with the company’s debt to enterprise value settled at 0.55. The receivables turnover for the company is 4.40 and the total asset turnover is 0.28. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.75.

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