Patterson-UTI Energy Inc (PTEN) Stock Could Soon Reward Patient Investors

Patterson-UTI Energy Inc (NASDAQ: PTEN) is -2.78% lower on its value in year-to-date trading and has touched a low of $9.70 and a high of $16.54 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The PTEN stock was last observed hovering at around $10.65 in the last trading session, with the day’s loss setting it -0.15%.

Currently trading at $10.50, the stock is 0.06% and -2.89% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 5.76 million and changing -1.41% at the moment leaves the stock -15.62% off its SMA200. PTEN registered -37.54% loss for a year compared to 6-month loss of -30.05%. The firm has a 50-day simple moving average (SMA 50) of $1.69 and a 200-day simple moving average (SMA200) of $6.03.

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The stock witnessed a 1.55% gain in the last 1 month and extending the period to 3 months gives it a -14.00%, and is 0.48% 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 3.17% over the week and 3.57% over the month.

Patterson-UTI Energy Inc (PTEN) has around Nov 30 2023 employees, a market worth around $4.38B and $3.35B in sales. Current P/E ratio is 7.94 and Fwd P/E is 9.30. Profit margin for the company is 8.49%. Distance from 52-week low is 8.25% and -36.52% from its 52-week high. The company has generated returns on investments over the last 12 months (4.64%).

Patterson-UTI Energy Inc quarterly earnings per share for the current quarter are estimated at $0.19 with sales reaching $1.51B over the same period.The EPS is expected to grow by 53.21% this year, but quarterly earnings will post 53.50% year-over-year. Quarterly sales are estimated to grow 91.10% in year-over-year returns.

Patterson-UTI Energy Inc (PTEN) Top Institutional Holders

444 institutions hold shares in Patterson-UTI Energy Inc (PTEN), with institutional investors hold 96.76% of the company’s shares. The shares outstanding are 417.28M, and float is at 359.34M with Short Float at 6.85%. Institutions hold 94.88% of the Float.

The top institutional shareholder in the company is Blackrock Inc. with over 57.12 million shares valued at $683.74 million. The investor’s holdings represent 27.46% of the PTEN Shares outstanding. As of Jun 29, 2023, the second largest holder is Vanguard Group Inc with 40.65 million shares valued at $486.61 million to account for 19.54% of the shares outstanding. The other top investors are Cerberus Capital Management, L.P. which holds 20.62 million shares representing 9.91% and valued at over $246.81 million, while Macquarie Group Limited holds 9.43% of the shares totaling 19.61 million with a market value of $234.74 million.

Patterson-UTI Energy Inc (PTEN) Insider Activity

A total of 17 insider transactions have happened at Patterson-UTI Energy Inc (PTEN) in the last six months, with sales accounting for 7 and purchases happening 10 times. The most recent transaction is an insider sale by CEPAK TIFFANY THOM ,the company’sDirector. SEC filings show that CEPAK TIFFANY THOM sold 15,000 shares of the company’s common stock on Dec 01 at a price of $11.78 per share for a total of $0.18 million. Following the sale, the insider now owns 0.11 million shares.

Patterson-UTI Energy Inc disclosed in a document filed with the SEC on Sep 27 that Smith Charles Andrew (EVP & Chief Financial Officer) sold a total of 10,000 shares of the company’s common stock. The trade occurred on Sep 27 and was made at $15.10 per share for $0.15 million. Following the transaction, the insider now directly holds 0.5 million shares of the PTEN stock.

Still, SEC filings show that on Sep 19, Smith Charles Andrew (EVP & Chief Financial Officer) disposed off 10,000 shares at an average price of $15.90 for $0.16 million. The insider now directly holds 514,413 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 -54.47% down over the past 12 months. Precision Drilling Corp. (PDS) that is -2.14% lower over the same period.