Patterson-UTI Energy Inc (NASDAQ: PTEN) has a price-to-earnings ratio of 9.09x that is above its average ratio. Additionally, the 36-month beta value for PTEN is 2.35. There are mixed opinions on the stock, with 13 analysts rating it as a “buy,” 2 rating it as “overweight,” 4 rating it as “hold,” and 0 rating it as “sell.”
The average price predicted by analysts for PTEN is $17.47, which is $5.45 above the current price. The public float for PTEN is 359.19M and currently, short sellers hold a 5.28% ratio of that float. The average trading volume of PTEN on November 21, 2023 was 6.75M shares.
PTEN) stock’s latest price update
The stock of Patterson-UTI Energy Inc (NASDAQ: PTEN) has decreased by -0.50 when compared to last closing price of 12.08.Despite this, the company has seen a loss of -0.91% in its stock price over the last five trading days. 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
Patterson-UTI Energy Inc (PTEN) has experienced a -0.91% fall in stock performance for the past week, with a -12.13% drop in the past month, and a -15.41% drop in the past quarter. The volatility ratio for the week is 3.76%, and the volatility levels for the past 30 days are at 4.03% for PTEN.. The simple moving average for the past 20 days is -4.03% for PTEN’s stock, with a -7.89% 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 -10.93% 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 -35.77% of loss for the given period.
Volatility was left at 4.03%, however, over the last 30 days, the volatility rate increased by 3.76%, as shares sank -10.43% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -20.19% lower at present.
During the last 5 trading sessions, PTEN fell by -0.91%, which changed the moving average for the period of 200-days by -24.26% in comparison to the 20-day moving average, which settled at $12.45. In addition, Patterson-UTI Energy Inc saw -28.62% 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 1.72, 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.
In conclusion, Patterson-UTI Energy Inc (PTEN) has seen bad performance in recent times. Analysts have a mixed opinion on the stock, with some rating it as a “buy” and others rating it as a “hold”. 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.