The price-to-earnings ratio for Patterson-UTI Energy Inc (NASDAQ: PTEN) is 8.71x, which is above its average ratio. Moreover, the 36-month beta value for PTEN is 2.35.
The average price recommended by analysts for Patterson-UTI Energy Inc (PTEN) is $17.47, which is $5.95 above the current market price. The public float for PTEN is 372.88M and currently, short sellers hold a 5.09% of that float. On November 17, 2023, PTEN’s average trading volume was 6.56M shares.
PTEN) stock’s latest price update
Patterson-UTI Energy Inc (NASDAQ: PTEN)’s stock price has decreased by -3.36 compared to its previous closing price of 11.92. However, the company has seen a -4.87% decrease in its stock price over the last five trading sessions. Zacks Investment Research reported 2023-11-16 that Patterson-UTI (PTEN) expects total capital outlay for the fourth quarter of 2023 to be approximately $190 million.
PTEN’s Market Performance
PTEN’s stock has fallen by -4.87% in the past week, with a monthly drop of -16.58% and a quarterly drop of -21.53%. The volatility ratio for the week is 3.67% while the volatility levels for the last 30 days are 4.32% for Patterson-UTI Energy Inc The simple moving average for the past 20 days is -9.48% for PTEN’s stock, with a -12.01% simple moving average for the past 200 days.
Analysts’ Opinion of PTEN
Many brokerage firms have already submitted their reports for PTEN stocks, with Morgan Stanley repeating the rating for PTEN by listing it as a “Equal-Weight.” The predicted price for PTEN in the upcoming period, according to Morgan Stanley is $17 based on the research report published on October 17, 2023 of the current year 2023.
PTEN Trading at -15.38% 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 -39.05% of loss for the given period.
Volatility was left at 4.32%, however, over the last 30 days, the volatility rate increased by 3.67%, as shares sank -17.48% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -20.55% lower at present.
During the last 5 trading sessions, PTEN fell by -4.87%, which changed the moving average for the period of 200-days by -29.15% in comparison to the 20-day moving average, which settled at $12.60. In addition, Patterson-UTI Energy Inc saw -31.59% in overturn over a single year, with a tendency to cut further losses.
Reports are indicating that there were more than several insider trading activities at PTEN starting from Smith Charles Andrew, who sale 10,000 shares at the price of $15.10 back on Sep 27. After this action, Smith Charles Andrew now owns 504,413 shares of Patterson-UTI Energy Inc, valued at $151,000 using the latest closing price.
Smith Charles Andrew, the EVP & Chief Financial Officer of Patterson-UTI Energy Inc, sale 10,000 shares at $15.90 during a trade that took place back on Sep 19, which means that Smith Charles Andrew is holding 514,413 shares at $159,000 based on the most recent closing price.
Stock Fundamentals for PTEN
Current profitability levels for the company are sitting at:
- +7.54 for the present operating margin
- +11.98 for the gross margin
The net margin for Patterson-UTI Energy Inc stands at +5.84. The total capital return value is set at 7.97, while invested capital returns managed to touch 6.19. Equity return is now at value 8.77, with 5.44 for asset returns.
Based on Patterson-UTI Energy Inc (PTEN), the company’s capital structure generated 51.37 points at debt to equity in total, while total debt to capital is 33.94. Total debt to assets is 27.22, with long-term debt to equity ratio resting at 51.07. Finally, the long-term debt to capital ratio is 33.74.
When we switch over and look at the enterprise to sales, we see a ratio of 1.70, with the company’s debt to enterprise value settled at 0.19. The receivables turnover for the company is 5.74 and the total asset turnover is 0.87. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.51.
To wrap up, the performance of Patterson-UTI Energy Inc (PTEN) has been bad in recent times. The stock has received a mixed of “buy” and “hold” ratings from analysts. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.