Patterson-UTI Energy Inc. (PTEN) Review – Making Smarter Decisions

315 institutions hold shares in Patterson-UTI Energy Inc. (PTEN), with 5.58M shares held by insiders accounting for 2.97% while institutional investors hold 100.90% of the company’s shares. The shares outstanding are 187.47M, and float is at 182.05M with Short Float at 10.27%. Institutions hold 97.90% of the Float.

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The top institutional shareholder in the company is Blackrock Inc. with over 29.14 million shares valued at $153.29 million. The investor’s holdings represent 15.52% of the PTEN Shares outstanding. As of Dec 30, 2020, the second largest holder is Vanguard Group, Inc. (The) with 20.22 million shares valued at $106.35 million to account for 10.77% of the shares outstanding. The other top investors are Dimensional Fund Advisors LP which holds 9.76 million shares representing 5.20% and valued at over $51.32 million, while Renaissance Technologies, LLC holds 4.52% of the shares totaling 8.49 million with a market value of $44.67 million.

Patterson-UTI Energy Inc. (NASDAQ: PTEN) is 31.56% higher on its value in year-to-date trading and has touched a low of $1.61 and a high of $7.65 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The PTEN stock was last observed hovering at around $6.28 in the last trading session, with the day’s gains setting it 0.64% off its average median price target of $5.75 for the next 12 months. It is also 13.5% off the consensus price target high of $8.00 offered by 17 analysts, but current levels are -97.71% lower than the price target low of $3.50 for the same period.

Currently trading at $6.92, the stock is 10.76% and 15.72% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 4.3 million and changing 10.19% at the moment leaves the stock 62.44% off its SMA200. PTEN registered -5.46% loss for a year compared to 6-month gain of 75.63%. The firm has a 50-day simple moving average (SMA 50) of $6.27 and a 200-day simple moving average (SMA200) of $4.43.

The stock witnessed a 16.11% loss in the last 1 month and extending the period to 3 months gives it a 66.35%, and is 10.72% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 6.75% over the week and 6.89% over the month.

Patterson-UTI Energy Inc. (PTEN) has around 3000 employees, a market worth around $1.27B and $1.12B in sales. Profit margin for the company is -71.50%. Distance from 52-week low is 329.81% and -9.54% from its 52-week high. The company has generated returns on investments over the last 12 months (-26.20%).

Patterson-UTI Energy Inc. (PTEN) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Patterson-UTI Energy Inc. (PTEN) is a “Hold”. 17 analysts offering their recommendations for the stock have an average rating of 3.00, where 9 rate it as a Hold and 1 think it is a “Overweight”. 3 of the analysts rate the stock as a “Buy”. 3 analysts have rated the stock as a Sell or Underperform.

Patterson-UTI Energy Inc. is expected to release its quarterly report on 04/29/2021 and quarterly earnings per share for the current quarter are estimated at -$0.55 with sales reaching $244.81M over the same period.The EPS is expected to shrink by -103.90% this year, but quarterly earnings will post -2.80% year-over-year. Quarterly sales are estimated to shrink -45.10% in year-over-year returns.

Patterson-UTI Energy Inc. (PTEN) Insider Activity

A total of 5 insider transactions have happened at Patterson-UTI Energy Inc. (PTEN) in the last six months, with sales accounting for 0 and purchases happening 5 times. The most recent transaction is an insider purchase by Judah Janeen S, the company’s Director. SEC filings show that Judah Janeen S bought 25,000 shares of the company’s common stock on Mar 12 at a price of $2.12 per share for a total of $53000.0. Following the purchase, the insider now owns 68689.0 shares.

Patterson-UTI Energy Inc. disclosed in a document filed with the SEC on Mar 12 that Hendricks William Andrew JR (President & CEO) bought a total of 50,000 shares of the company’s common stock. The trade occurred on Mar 12 and was made at $2.04 per share for $0.1 million. Following the transaction, the insider now directly holds 1.14 million shares of the PTEN stock.

Still, SEC filings show that on Mar 11, HUFF CURTIS W (Director) acquired 70,000 shares at an average price of $2.06 for $0.14 million. The insider now directly holds 289,483 shares of Patterson-UTI Energy Inc. (PTEN).

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Patterson-UTI Energy Inc. (PTEN): Who are the competitors?

The company’s main competitors (and peers) include Nabors Industries Ltd. (NBR) that is trading -22.33% down over the past 12 months. Transocean Ltd. (RIG) is -15.38% down on the 1-year trading charts. Short interest in the company’s stock has fallen -13.16% from the last report on Dec 30, 2020 to stand at a total of 21.15 million short shares sold with a short interest ratio of 7.82.

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