Patterson-UTI Energy Inc. (NASDAQ:PTEN) went down by -12.09% from its latest closing price compared to the recent 1-year high of $18.77. The company’s stock price has collected -10.90% of loss in the last five trading sessions.
Is It Worth Investing in Patterson-UTI Energy Inc. (NASDAQ :PTEN) Right Now?
Plus, the 36-month beta value for PTEN is at 2.40. 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 2 rated the stock as “overweight,” 2 rated it as “hold,” and 2 as “sell.”
The average price from analysts is $19.38, which is $4.51 above the current price. PTEN currently public float of 210.81M and currently shorts hold a 5.99% ratio of that float. Today, the average trading volume of PTEN was 4.39M shares.
PTEN’s Market Performance
PTEN stocks went down by -10.90% for the week, with a monthly drop of -6.58% and a quarterly performance of 34.23%, while its annual performance rate touched 73.92%. The volatility ratio for the week stands at 8.46% while the volatility levels for the past 30 days are set at 6.51% for Patterson-UTI Energy Inc.. The simple moving average for the period of the last 20 days is -14.59% for PTEN stocks with a simple moving average of 35.52% for the last 200 days.
Analysts’ Opinion of PTEN
Many brokerage firms have already submitted their reports for PTEN stocks, with The Benchmark Company repeating the rating for PTEN by listing it as a “Buy.” The predicted price for PTEN in the upcoming period, according to The Benchmark Company is $21 based on the research report published on April 19th of the current year 2022.
Piper Sandler, on the other hand, stated in their research note that they expect to see PTEN reach a price target of $10.25, previously predicting the price at $10. The rating they have provided for PTEN stocks is “Overweight” according to the report published on December 21st, 2021.
Citigroup gave a rating of “Buy” to PTEN, setting the target price at $11 in the report published on December 10th of the previous year.
PTEN Trading at -9.09% 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 -22.91% of loss for the given period.
Volatility was left at 6.51%, however, over the last 30 days, the volatility rate increased by 8.46%, as shares sank -11.01% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +7.19% upper at present.
During the last 5 trading sessions, PTEN fell by -10.90%, which changed the moving average for the period of 200-days by +84.33% in comparison to the 20-day moving average, which settled at $16.85. In addition, Patterson-UTI Energy Inc. saw 71.24% in overturn over a single year, with a tendency to cut further gains.
Reports are indicating that there were more than several insider trading activities at PTEN starting from Wexler Seth David, who sale 60,000 shares at the price of $17.00 back on May 04. After this action, Wexler Seth David now owns 323,417 shares of Patterson-UTI Energy Inc., valued at $1,020,000 using the latest closing price.
Holcomb James Michael, the President-Drilling Subsidiary of Patterson-UTI Energy Inc., sale 100,000 shares at $16.53 during a trade that took place back on May 03, which means that Holcomb James Michael is holding 373,108 shares at $1,653,000 based on the most recent closing price.
Stock Fundamentals for PTEN
Current profitability levels for the company are sitting at:
- -49.10 for the present operating margin
- -42.30 for the gross margin
The net margin for Patterson-UTI Energy Inc. stands at -48.42. Equity return is now at value -34.30, with -19.30 for asset returns.
The liquidity ratio also appears to be rather interesting for investors as it stands at 1.34.