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Patterson-UTI Energy Inc (PTEN) Analysis & Forecast for 2024

Patterson-UTI Energy Inc (NASDAQ: PTEN) is -9.44% lower on its value in year-to-date trading and has touched a low of $9.68 and a high of $16.17 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 $9.74 in the last trading session, with the day’s gains setting it 0.04%.

Currently trading at $9.78, the stock is -3.41% and -7.56% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 9.13 million and changing 0.41% at the moment leaves the stock -14.98% off its SMA200. PTEN registered -24.83% loss for a year compared to 6-month loss of -8.85%.

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The stock witnessed a -5.51% gain in the last 1 month and extending the period to 3 months gives it a -19.31%, and is -3.07% 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 2.96% over the week and 2.89% over the month.

Patterson-UTI Energy Inc (PTEN) has around 10600 employees, a market worth around $3.93B and $4.87B in sales. Current P/E ratio is 14.42 and Fwd P/E is 12.20. Profit margin for the company is 4.07%. Distance from 52-week low is 1.03% and -39.54% from its 52-week high. The company has generated returns on investments over the last 12 months (3.29%).

The EPS is expected to shrink by -60.88% this year.

Patterson-UTI Energy Inc (PTEN) Top Institutional Holders

The shares outstanding are 411.20M, and float is at 363.19M with Short Float at 7.13%.

Patterson-UTI Energy Inc (PTEN) Insider Activity

The most recent transaction is an insider sale by Gillard Matthew,the company’sPresident-Completions. SEC filings show that Gillard Matthew sold 60,000 shares of the company’s common stock on Jun 18 ’24 at a price of $9.87 per share for a total of $0.59 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 May 20 ’24 that Drummond Robert Wayne Jr (Director) sold a total of 150,000 shares of the company’s common stock. The trade occurred on May 20 ’24 and was made at $11.55 per share for $1.73 million. Following the transaction, the insider now directly holds 2.01 million shares of the PTEN stock.

Still, SEC filings show that on Mar 01 ’24, Drummond Robert Wayne Jr (Director) disposed off 65,344 shares at an average price of $11.76 for $0.77 million. The insider now directly holds 2,407,895 shares of Patterson-UTI Energy Inc (PTEN).

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