The stock of Patterson-UTI Energy Inc (PTEN) has seen a -6.09% decrease in the past week, with a -8.41% drop in the past month, and a -23.83% decrease in the past quarter. The volatility ratio for the week is 3.05%, and the volatility levels for the past 30 days are at 3.73% for PTEN. The simple moving average for the past 20 days is -3.44% for PTEN’s stock, with a -24.06% simple moving average for the past 200 days.
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 that is above its average at 25.87x. The stock has a 36-month beta value of 2.14. Opinions on the stock are mixed, with 12 analysts rating it as a “buy,” 7 as “overweight,” 8 as “hold,” and 1 as “sell.”
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The public float for PTEN is 354.53M, and at present, short sellers hold a 8.40% of that float. On October 18, 2024, the average trading volume of PTEN was 7.29M shares.
PTEN) stock’s latest price update
The stock of Patterson-UTI Energy Inc (NASDAQ: PTEN) has decreased by -2.32 when compared to last closing price of 7.97.Despite this, the company has seen a loss of -6.09% in its stock price over the last five trading days. zacks.com reported 2024-10-17 that Patterson-UTI (PTEN) doesn’t possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
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 -7.77% 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 -45.41% of loss for the given period.
Volatility was left at 3.73%, however, over the last 30 days, the volatility rate increased by 3.05%, as shares sank -7.05% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -12.29% lower at present.
During the last 5 trading sessions, PTEN fell by -6.15%, which changed the moving average for the period of 200-days by -28.10% in comparison to the 20-day moving average, which settled at $8.06. In addition, Patterson-UTI Energy Inc saw -27.92% 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 0.79. 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
To sum up, Patterson-UTI Energy Inc (PTEN) has seen a bad performance recently. Analysts have differing views on the stock, with some seeing it as a “buy” and others 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.
