Patterson-UTI Energy Inc. (NASDAQ:PTEN) currently has a daily average trading volume of 3.47M but it saw 1765927 shares traded on Thursday. With a market cap of 2.27B USD, stock’s current market price of $10.57 came falling about -4.08 while comparing to the previous closing price of $11.02. In past 52 weeks, the stock remained buoying in the range of price level as high as $20.53 and as low as $9.94. In the recent trading on the day, stock has struck highest price mark of $10.79 while lowest mark touched by it was $10.485.
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Taking a look at 20-day trading activity of Patterson-UTI Energy Inc. (PTEN) gives us an average price of $10.59, while its current price level is -48.51% below from 52-week high level whereas it is 6.34% above from lowest level seen by the stock during that period. Simple moving average of 50 days or SMA-50 of the stock’s closing price is $11.33 while that of 200 days or SMA-200 reads an average of $14.52. A closer look into the stock’s movement over the week reveals that its volatility is standing at 3.74% during that period while stretching the period over a month that increases to 4.43%. It is also necessary to take a look into other indicators of a stock too, to get a better idea about its price movement. And in doing so, we find stock’s 14-day relative strength index (RSI) standing at 43.70 which implies that the stock is in neutral territory.
Patterson-UTI Energy Inc. (PTEN)’s stock is currently under the radar of 17 analysts who are in consensus at a 12-month price target range of between $12.00 and $22.00 for company’s shares. The average price target assigned by the average number of analysts to a stock is a way to gauge worth of any stock in next 52 weeks. And in assigning price target to a stock, some analysts adopt a bearish approach by advocating lower-than-average price target which in this case is $12.00 while some adopt bullish approach by assigning higher-than-average price target which reads the price to top $22.00. Average price target assigned by them is $17.39 which highlights an upside potential of 39.22% for the stock over that period. And to attain the median price target of $18.00 assigned by those analysts, stock has to add about 41.28% of value to its current levels.
Data by FactSet Research shows that 17 analysts have issued their ratings for the stock. 0 of them are in opinions that stock is a Sell, while 3 are advising it as an Overweight. 7 analysts suggested the investors to Buy the stock while 7 advised them to Hold. Recommendations by all of those brokerages imply a consensus rating of Overweight for the stock and that issued by Wall Street to investors is Moderate Buy.
Over the week, PTEN’s stock price is moving -3.65% down while it is -9.27% when we observe its performance for the past one month. Year-to-date it is -37.23% down and over the past year, the stock is showing a downside performance of -39.43%.
The latest quarterly earnings report issued by the company was for quarter ended 3/30/2023, when its quarterly earnings per share (EPS) of $0.46 beat the consensus estimate of $0.35 for the same. The company is expected to be releasing its next quarterly report in 07/27/2023, for which analysts forecasted an EPS of $0.45 while estimate for next year EPS is $1.77. For PTEN, analysts are forecasting an EPS-growth rate of 149.30% for current year and estimate for EPS growth in next year is 2.80%. In next quarter, company is expected to be making quarterly sales of $785.15 million as analysts are expecting the sales for current fiscal year at $3.14 billion and seeing the company making $3.17 billion in sales next year. Moreover, analysts are in estimates of $784.35 million for current-quarter revenue.
Currently, Patterson-UTI Energy Inc.’s total number of outstanding shares is 212.09M with 2.06% of that held by the insiders while 103.49% of its common stock has been owned by the institutions. Company’s return on investment (ROI) stands at 7.90% and return on equity (ROE) at 17.30%. It has a price to earnings ratio (P/E ratio) of 8.16 while having a 5.98 of forward P/E ratio. Stock’s beta reads 2.29. Stock has a price to book (P/B) ratio of 1.34 while price to sale or P/S ratio amounts to 0.77. Its return on asset (ROA) is 9.30% on average.
A filing at the U.S. Securities and Exchange Commission revealed that iShares Core S&P Small Cap ETF came shrinking its share ownership by -0.14% in the Patterson-UTI Energy Inc. (PTEN) decreasing its stake to 7.37% with control over 21641.0 shares in the company. As per SEC documents, iShares Core S&P Small Cap ETF sought 15,749,236 of company’s common stock of worth $176.23 million as per recent closing price of the stock. iShares Core S&P Small Cap ETF is not the only institutional holder which restructured its stake in Patterson-UTI Energy Inc., as Delaware Small Cap Core Fund picked 6,989,204 shares of worth $78.21 million to bring its holdings to a total of 0.45 million shares. In the most recent quarter, Vanguard Total Stock Market ETF came rising its stake by 0.05% in the company and now holds 6.65 million or 3.11% of the company’s stake having worth of about 74.38 million.
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