Patterson-UTI Energy Inc (NASDAQ: PTEN) is -26.94% lower on its value in year-to-date trading and has touched a low of $7.45 and a high of $14.26 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 $8.25 in the last trading session, with the day’s loss setting it -0.36%.
Currently trading at $7.89, the stock is -2.92% and -7.06% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 9.14 million and changing -4.36% at the moment leaves the stock -23.36% off its SMA200. PTEN registered -42.74% loss for a year compared to 6-month loss of -30.36%. The firm has a 50-day simple moving average (SMA 50) of $8.489 and a 200-day simple moving average (SMA200) of $10.2944.
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The stock witnessed a -2.95% gain in the last 1 month and extending the period to 3 months gives it a -28.27%, and is -3.66% 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 3.03% over the week and 3.81% over the month.
Patterson-UTI Energy Inc (PTEN) has around 10600 employees, a market worth around $3.10B and $5.45B in sales. Current P/E ratio is 26.22 and Fwd P/E is 39.15. Profit margin for the company is 2.28%. Distance from 52-week low is 5.98% and -44.67% from its 52-week high. The company has generated returns on investments over the last 12 months (2.12%).
with sales reaching $1.33B over the same period.The EPS is expected to shrink by -84.78% this year, but quarterly earnings will post 33.90% year-over-year. Quarterly sales are estimated to grow 31.90% in year-over-year returns.
Patterson-UTI Energy Inc (PTEN) Top Institutional Holders
469.0 institutions hold shares in Patterson-UTI Energy Inc (PTEN), with institutional investors hold 104.94% of the company’s shares. The shares outstanding are 411.20M, and float is at 354.53M with Short Float at 8.40%. Institutions hold 102.30% of the Float.
The top institutional shareholder in the company is BLACKROCK INC. with over 57.44 million shares valued at $595.11 million. The investor’s holdings represent 14.073% of the PTEN Shares outstanding. As of 2024-06-30, the second largest holder is VANGUARD GROUP INC with 45.15 million shares valued at $467.77 million to account for 11.0617 of the shares outstanding. The other top investors are BLACKSTONE INC. which holds 28.72 million shares representing 7.1882% and valued at over $297.55 million, while MACQUARIE GROUP LTD holds 4.1431 of the shares totaling 16.91 million with a market value of $175.21 million.
Patterson-UTI Energy Inc (PTEN) Insider Activity
The most recent transaction is an insider sale by Gillard Matthew, the company’s President-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 Feb 29 ’24, Drummond Robert Wayne Jr (Director) disposed off 187,916 shares at an average price of $11.73 for $2.2 million. The insider now directly holds 2,473,239 shares of Patterson-UTI Energy Inc (PTEN).
