Patterson-UTI Energy Inc (NASDAQ: PTEN) is 8.24% higher on its value in year-to-date trading and has touched a low of $9.70 and a high of $16.17 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 $11.84 in the last trading session, with the day’s loss setting it -0.15%.
Currently trading at $11.69, the stock is -0.20% and 4.82% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 3.83 million and changing -1.27% at the moment leaves the stock -7.06% off its SMA200. PTEN registered 7.94% gain for a year compared to 6-month loss of -20.10%. The firm has a 50-day simple moving average (SMA 50) of $1.43 and a 200-day simple moving average (SMA200) of $5.43.
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The stock witnessed a 1.30% gain in the last 1 month and extending the period to 3 months gives it a 7.15%, and is -1.93% 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 3.02% over the week and 3.41% over the month.
Patterson-UTI Energy Inc (PTEN) has around 10600 employees, a market worth around $4.77B and $4.15B in sales. Current P/E ratio is 11.52 and Fwd P/E is 10.68. Profit margin for the company is 5.94%. Distance from 52-week low is 20.52% and -27.73% from its 52-week high. The company has generated returns on investments over the last 12 months (4.05%).
Patterson-UTI Energy Inc quarterly earnings per share for the current quarter are estimated at $0.13 with sales reaching $1.52B over the same period.The EPS is expected to shrink by -46.43% this year, but quarterly earnings will post 49.40% year-over-year. Quarterly sales are estimated to grow 91.40% in year-over-year returns.
Patterson-UTI Energy Inc (PTEN) Top Institutional Holders
455 institutions hold shares in Patterson-UTI Energy Inc (PTEN), with institutional investors hold 99.15% of the company’s shares. The shares outstanding are 411.20M, and float is at 356.63M with Short Float at 6.21%. Institutions hold 97.23% 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
The most recent transaction is an insider sale by Drummond Robert Wayne Jr,the company’sDirector. SEC filings show that Drummond Robert Wayne Jr sold 65,344 shares of the company’s common stock on Mar 01 ’24 at a price of $11.76 per share for a total of $0.77 million. Following the sale, the insider now owns 2.41 million shares.
Patterson-UTI Energy Inc disclosed in a document filed with the SEC on Feb 29 ’24 that Drummond Robert Wayne Jr (Director) sold a total of 187,916 shares of the company’s common stock. The trade occurred on Feb 29 ’24 and was made at $11.73 per share for $2.2 million. Following the transaction, the insider now directly holds 2.47 million shares of the PTEN stock.
Still, SEC filings show that on Dec 01 ’23, CEPAK TIFFANY THOM (Director) disposed off 15,000 shares at an average price of $11.78 for $0.18 million. The insider now directly holds 107,081 shares of Patterson-UTI Energy Inc (PTEN).
