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

Patterson-UTI Energy Inc. (NASDAQ: PTEN) is 58.46% higher on its value in year-to-date trading and has touched a low of $6.70 and a high of $20.53 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 $13.57 in the last trading session, with the day’s loss setting it -0.18% off its average median price target of $21.00 for the next 12 months. It is also 48.5% off the consensus price target high of $26.00 offered by 14 analysts, but current levels are 25.61% higher than the price target low of $18.00 for the same period.

Currently trading at $13.39, the stock is -10.86% and -9.10% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.64 million and changing -1.33% at the moment leaves the stock -4.71% off its SMA200. PTEN registered 73.90% gain for a year compared to 6-month gain of -10.31%.

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The stock witnessed a -12.02% loss in the last 1 month and extending the period to 3 months gives it a -13.95%, and is -13.33% down 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 5.23% over the week and 5.02% over the month.

Patterson-UTI Energy Inc. (PTEN) has around 5000 employees, a market worth around $3.05B and $1.96B in sales. Fwd P/E is 10.04. Profit margin for the company is -23.10%. Distance from 52-week low is 99.70% and -34.78% from its 52-week high. The company has generated returns on investments over the last 12 months (-25.00%).

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 “Overweight”. 14 analysts offering their recommendations for the stock have an average rating of 2.20, where 4 rate it as a Hold and 2 think it is a “Overweight”. 7 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

Patterson-UTI Energy Inc. is expected to release its quarterly report on 10/27/2022.The EPS is expected to grow by 21.20% this year

Patterson-UTI Energy Inc. (PTEN) Top Institutional Holders

The shares outstanding are 216.16M, and float is at 212.35M with Short Float at 4.02%.

Patterson-UTI Energy Inc. (PTEN) Insider Activity

A total of 60 insider transactions have happened at Patterson-UTI Energy Inc. (PTEN) in the last six months, with sales accounting for 47 and purchases happening 13 times. The most recent transaction is an insider sale by Holcomb James Michael, the company’s President-Drilling Subsidiary. SEC filings show that Holcomb James Michael sold 8,333 shares of the company’s common stock on Aug 23 at a price of $16.00 per share for a total of $0.13 million. Following the sale, the insider now owns 0.35 million shares.

Patterson-UTI Energy Inc. disclosed in a document filed with the SEC on Jul 29 that Holcomb James Michael (President-Drilling Subsidiary) sold a total of 8,333 shares of the company’s common stock. The trade occurred on Jul 29 and was made at $16.31 per share for $0.14 million. Following the transaction, the insider now directly holds 0.36 million shares of the PTEN stock.

Still, SEC filings show that on Jul 11, Hendricks William Andrew JR (President & CEO) disposed off 100,000 shares at an average price of $13.76 for $1.38 million. The insider now directly holds 1,801,374 shares of Patterson-UTI Energy Inc. (PTEN).

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

The company’s main competitors (and peers) include Nabors Industries Ltd. (NBR) that is trading 45.46% up over the past 12 months and Precision Drilling Corporation (PDS) that is 84.33% higher over the same period. Transocean Ltd. (RIG) is -15.99% down on the 1-year trading charts.

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