Patterson-UTI Energy Inc (NASDAQ: PTEN) has experienced a rise in its stock price by 0.85 compared to its previous closing price of 10.59. However, the company has seen a fall of -5.07% in its stock price over the last five trading days. Zacks Investment Research reported 2024-05-03 that Patterson-UTI (PTEN) expects Completion Services revenues of $860 million for the second quarter, with direct operating costs of $690 million and adjusted gross profit of $170 million.
Is It Worth Investing in Patterson-UTI Energy Inc (NASDAQ: PTEN) Right Now?
Patterson-UTI Energy Inc (NASDAQ: PTEN) has a price-to-earnings ratio of 15.75x that is above its average ratio. Additionally, the 36-month beta value for PTEN is 2.21. There are mixed opinions on the stock, with 12 analysts rating it as a “buy,” 7 rating it as “overweight,” 8 rating it as “hold,” and 1 rating it as “sell.”
The public float for PTEN is 385.72M and currently, short sellers hold a 6.93% ratio of that float. The average trading volume of PTEN on May 06, 2024 was 6.73M shares.
PTEN’s Market Performance
The stock of Patterson-UTI Energy Inc (PTEN) has seen a -5.07% decrease in the past week, with a -12.10% drop in the past month, and a 2.20% gain in the past quarter. The volatility ratio for the week is 3.81%, and the volatility levels for the past 30 days are at 3.47% for PTEN. The simple moving average for the last 20 days is -6.85% for PTEN’s stock, with a simple moving average of -14.40% for the last 200 days.
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 -8.30% 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 -33.97% of loss for the given period.
Volatility was left at 3.47%, however, over the last 30 days, the volatility rate increased by 3.81%, as shares sank -14.70% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -9.80% lower at present.
During the last 5 trading sessions, PTEN fell by -5.07%, which changed the moving average for the period of 200-days by -29.37% in comparison to the 20-day moving average, which settled at $11.37. In addition, Patterson-UTI Energy Inc saw -1.11% in overturn over a single year, with a tendency to cut further losses.
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:
- 0.07 for the present operating margin
- 0.13 for the gross margin
The net margin for Patterson-UTI Energy Inc stands at 0.04. Equity return is now at value 7.60, with 4.66 for asset returns.
Currently, EBITDA for the company is 1.16 billion with net debt to EBITDA at 0.17. When we switch over and look at the enterprise to sales, we see a ratio of 0.94. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.48.
Conclusion
In conclusion, Patterson-UTI Energy Inc (PTEN) has seen mixed 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.
