Patterson-UTI Energy Inc (NASDAQ: PTEN) has a higher price-to-earnings ratio of 26.29x compared to its average ratio, The 36-month beta value for PTEN is at 2.16. Analysts have varying views on the stock, with 12 analysts rating it as a “buy,” 7 rating it as “overweight,” 8 as “hold,” and 1 as “sell.”
The public float for PTEN is 354.53M, and currently, shorts hold a 7.36% of that float. The average trading volume for PTEN on September 16, 2024 was 7.55M shares.
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PTEN) stock’s latest price update
The stock price of Patterson-UTI Energy Inc (NASDAQ: PTEN) has plunged by 0.00 when compared to previous closing price of 7.91, but the company has seen a -3.54% decline in its stock price over the last five trading sessions. accesswire.com reported 2024-09-09 that HOUSTON, TX / ACCESSWIRE / September 9, 2024 / PATTERSON-UTI ENERGY, INC. (NASDAQ:PTEN) today reported that for the month of August 2024, the Company had an average of 107 drilling rigs operating in the United States.
PTEN’s Market Performance
Patterson-UTI Energy Inc (PTEN) has experienced a -3.54% fall in stock performance for the past week, with a -9.60% drop in the past month, and a -21.68% drop in the past quarter. The volatility ratio for the week is 3.87%, and the volatility levels for the past 30 days are at 3.64% for PTEN. The simple moving average for the last 20 days is -10.01% for PTEN stock, with a simple moving average of -25.71% 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 -16.30% 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 -51.10% of loss for the given period.
Volatility was left at 3.64%, however, over the last 30 days, the volatility rate increased by 3.87%, as shares sank -12.40% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -21.92% lower at present.
During the last 5 trading sessions, PTEN fell by -3.54%, which changed the moving average for the period of 200-days by -32.97% in comparison to the 20-day moving average, which settled at $8.73. In addition, Patterson-UTI Energy Inc saw -26.76% 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 Gillard Matthew, who sale 60,000 shares at the price of $9.87 back on Jun 18 ’24. After this action, Gillard Matthew now owns 114,692 shares of Patterson-UTI Energy Inc, valued at $592,200 using the latest closing price.
Drummond Robert Wayne Jr, the Director of Patterson-UTI Energy Inc, sale 150,000 shares at $11.55 during a trade that took place back on May 20 ’24, which means that Drummond Robert Wayne Jr is holding 2,007,895 shares at $1,732,500 based on the most recent closing price.
Stock Fundamentals for PTEN
Current profitability levels for the company are sitting at:
- 0.05 for the present operating margin
- 0.11 for the gross margin
The net margin for Patterson-UTI Energy Inc stands at 0.02. The total capital return value is set at 0.04. Equity return is now at value 3.93, with 2.45 for asset returns.
Based on Patterson-UTI Energy Inc (PTEN), the company’s capital structure generated 0.22 points at debt to capital in total, while cash flow to debt ratio is standing at 0.93. The debt to equity ratio resting at 0.27. The interest coverage ratio of the stock is 3.79.
Currently, EBITDA for the company is 1.16 billion with net debt to EBITDA at 0.91. When we switch over and look at the enterprise to sales, we see a ratio of 0.8. The receivables turnover for the company is 5.83for trailing twelve months and the total asset turnover is 0.78. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.50.
Conclusion
In conclusion, Patterson-UTI Energy Inc (PTEN) has had a bad performance lately. Opinion on the stock among analysts is mixed, with some giving it a “buy” rating and others 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.
