In the past week, PTEN stock has gone up by 4.86%, with a monthly gain of 7.47% and a quarterly surge of 18.79%. The volatility ratio for the week is 3.27%, and the volatility levels for the last 30 days are 3.64% for Patterson-UTI Energy Inc The simple moving average for the last 20 days is 5.78% for PTEN stock, with a simple moving average of -0.59% for the last 200 days.
Is It Worth Investing in Patterson-UTI Energy Inc (NASDAQ: PTEN) Right Now?
The price-to-earnings ratio for Patterson-UTI Energy Inc (NASDAQ: PTEN) is 12.34x, which is above its average ratio. Moreover, the 36-month beta value for PTEN is 2.23. Analysts have varying opinions on the stock, with 12 analysts rating it as a “buy,” 7 as “overweight,” 8 as “hold,” and 1 as “sell.”
The public float for PTEN is 356.63M and currently, short sellers hold a 7.17% of that float. On April 08, 2024, PTEN’s average trading volume was 6.84M shares.
PTEN) stock’s latest price update
Patterson-UTI Energy Inc (NASDAQ: PTEN) has seen a rise in its stock price by 3.05 in relation to its previous close of 12.15. However, the company has experienced a 4.86% gain in its stock price over the last five trading sessions. InvestorPlace reported 2024-04-03 that A hot topic for energy production, hydraulic fracturing, or fracking, extracts oil and gas by injecting high-pressure fluids underground. For the U.S. this has boosted domestic energy production potential but has also sparked environmentalist concerns.
Analysts’ Opinion of PTEN
Goldman, on the other hand, stated in their research note that they expect to see PTEN reach a price target of $12. The rating they have provided for PTEN stocks is “Neutral” according to the report published on December 19th, 2023.
Morgan Stanley gave a rating of “Equal-Weight” to PTEN, setting the target price at $17 in the report published on October 17th of the previous year.
PTEN Trading at 9.73% 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 -22.60% of loss for the given period.
Volatility was left at 3.64%, however, over the last 30 days, the volatility rate increased by 3.27%, as shares surge +3.47% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +19.01% upper at present.
During the last 5 trading sessions, PTEN rose by +4.86%, which changed the moving average for the period of 200-days by +7.93% in comparison to the 20-day moving average, which settled at $11.86. In addition, Patterson-UTI Energy Inc saw 15.93% 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 Drummond Robert Wayne Jr, who sale 65,344 shares at the price of $11.76 back on Mar 01 ’24. After this action, Drummond Robert Wayne Jr now owns 2,407,895 shares of Patterson-UTI Energy Inc, valued at $768,445 using the latest closing price.
Drummond Robert Wayne Jr, the Director of Patterson-UTI Energy Inc, sale 187,916 shares at $11.73 during a trade that took place back on Feb 29 ’24, which means that Drummond Robert Wayne Jr is holding 2,473,239 shares at $2,204,255 based on the most recent closing price.
Stock Fundamentals for PTEN
Current profitability levels for the company are sitting at:
- 0.09 for the present operating margin
- 0.15 for the gross margin
The net margin for Patterson-UTI Energy Inc stands at 0.06. The total capital return value is set at 0.06. Equity return is now at value 7.60, with 4.66 for asset returns.
Based on Patterson-UTI Energy Inc (PTEN), the company’s capital structure generated 0.21 points at debt to capital in total, while cash flow to debt ratio is standing at 0.78. The debt to equity ratio resting at 0.27. The interest coverage ratio of the stock is 6.9.
Currently, EBITDA for the company is 1.16 billion with net debt to EBITDA at 1.09. When we switch over and look at the enterprise to sales, we see a ratio of 1.51. The receivables turnover for the company is 4.03for trailing twelve months and the total asset turnover is 0.56. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.41.
Conclusion
To wrap up, the performance of Patterson-UTI Energy Inc (PTEN) has been better 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.
