Patterson-UTI Energy Inc (NASDAQ: PTEN) is 4.36% higher on its value in year-to-date trading and has touched a low of $7.15 and a high of $12.65 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 $8.57 in the last trading session, with the day’s gains setting it 0.05%.
Currently trading at $8.62, the stock is 10.34% and 7.33% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 7.37 million and changing 0.58% at the moment leaves the stock -8.82% off its SMA200. PTEN registered -18.22% loss for a year compared to 6-month loss of -11.50%. The firm has a 50-day simple moving average (SMA 50) of $8.0152 and a 200-day simple moving average (SMA200) of $9.469.
The stock witnessed a 5.25% gain in the last 1 month and extending the period to 3 months gives it a 1.65%, and is 9.81% 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 3.50% over the week and 4.23% over the month.
Patterson-UTI Energy Inc (PTEN) has around 10600 employees, a market worth around $3.38B and $5.80B in sales. Profit margin for the company is -14.73%. Distance from 52-week low is 20.56% and -31.86% from its 52-week high. The company has generated returns on investments over the last 12 months (-17.67%).
The EPS is expected to shrink by -91.74% this year.
Patterson-UTI Energy Inc (PTEN) Top Institutional Holders
472.0 institutions hold shares in Patterson-UTI Energy Inc (PTEN), with institutional investors hold 103.31% of the company’s shares. The shares outstanding are 389.94M, and float is at 351.51M with Short Float at 7.95%. Institutions hold 100.71% 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 11.3004 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 4.2325 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 STEWART JAMES CARL,the company’sDirector. SEC filings show that STEWART JAMES CARL sold 80,000 shares of the company’s common stock on Dec 18 ’24 at a price of $7.36 per share for a total of $0.59 million. Following the sale, the insider now owns 32438.0 shares.
Still, SEC filings show that on Jun 18 ’24, Gillard Matthew (President-Completions) disposed off 60,000 shares at an average price of $9.87 for $0.59 million. The insider now directly holds 114,692 shares of Patterson-UTI Energy Inc (PTEN).
