The stock of Patterson-UTI Energy Inc (PTEN) has gone down by -1.04% for the week, with a -3.97% drop in the past month and a 10.50% rise in the past quarter. The volatility ratio for the week is 2.95%, and the volatility levels for the past 30 days are 3.28% for PTEN. The simple moving average for the past 20 days is -3.85% for PTEN’s stock, with a -9.69% simple moving average for the past 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 above average at 11.20x, Company’s 36-month beta value is 2.21.Analysts have differing 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 7.41% ratio of that floaft. The average trading volume of PTEN on April 22, 2024 was 6.69M shares.
PTEN) stock’s latest price update
The stock price of Patterson-UTI Energy Inc (NASDAQ: PTEN) has plunged by -1.22 when compared to previous closing price of 11.51, but the company has seen a -1.04% decline in its stock price over the last five trading sessions. Accesswire reported 2024-04-08 that HOUSTON, TX / ACCESSWIRE / April 8, 2024 / PATTERSON-UTI ENERGY, INC. (NASDAQ:PTEN) will host a conference call on Thursday, May 2, 2024, at 9:00 a.m.
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 -2.25% 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 -29.71% of loss for the given period.
Volatility was left at 3.28%, however, over the last 30 days, the volatility rate increased by 2.95%, as shares sank -3.08% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +6.38% upper at present.
During the last 5 trading sessions, PTEN fell by -1.39%, which changed the moving average for the period of 200-days by -5.50% in comparison to the 20-day moving average, which settled at $11.81. In addition, Patterson-UTI Energy Inc saw 5.28% 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 1.4. 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
In a nutshell, Patterson-UTI Energy Inc (PTEN) has experienced a mixed performance in recent times. The stock has received mixed “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.
