The stock of Patterson-UTI Energy Inc. (PTEN) has gone down by -3.41% for the week, with a -15.28% drop in the past month and a -32.47% drop in the past quarter. The volatility ratio for the week is 3.39%, and the volatility levels for the past 30 days are 4.89% for PTEN. The simple moving average for the past 20 days is -8.54% for PTEN’s stock, with a -30.74% simple moving average for the past 200 days.
Is It Worth Investing in Patterson-UTI Energy Inc. (NASDAQ: PTEN) Right Now?
Patterson-UTI Energy Inc. (NASDAQ: PTEN) has a higher price-to-earnings ratio of 7.88x compared to its average ratio. compared to its average ratio and a 36-month beta value of 2.30. Analysts have mixed views on the stock, with 7 analysts rating it as a “buy,” 3 as “overweight,” 7 as “hold,” and 0 as “sell.”
The average price point forecasted by analysts for Patterson-UTI Energy Inc. (PTEN) is $17.54, which is $7.53 above the current market price. The public float for PTEN is 204.16M, and currently, short sellers hold a 7.15% ratio of that float. The average trading volume of PTEN on May 16, 2023 was 3.69M shares.
PTEN) stock’s latest price update
Patterson-UTI Energy Inc. (NASDAQ: PTEN)’s stock price has increased by 0.99 compared to its previous closing price of 10.10. However, the company has seen a -3.41% decrease in its stock price over the last five trading sessions.
Analysts’ Opinion of PTEN
Citigroup, on the other hand, stated in their research note that they expect to see PTEN reach a price target of $18. The rating they have provided for PTEN stocks is “Neutral” according to the report published on January 17th, 2023.
PTEN Trading at -14.06% from the 50-Day Moving Average
After a stumble in the market that brought PTEN to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -50.32% of loss for the given period.
Volatility was left at 4.89%, however, over the last 30 days, the volatility rate increased by 3.39%, as shares sank -14.29% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -31.91% lower at present.
During the last 5 trading sessions, PTEN fell by -3.41%, which changed the moving average for the period of 200-days by -35.48% in comparison to the 20-day moving average, which settled at $11.07. In addition, Patterson-UTI Energy Inc. saw -39.43% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at PTEN starting from Holcomb James Michael, who sale 58,335 shares at the price of $18.65 back on Nov 04. After this action, Holcomb James Michael now owns 273,108 shares of Patterson-UTI Energy Inc., valued at $1,087,948 using the latest closing price.
Holcomb James Michael, the President-Drilling Subsidiary of Patterson-UTI Energy Inc., sale 16,666 shares at $16.01 during a trade that took place back on Oct 26, which means that Holcomb James Michael is holding 331,443 shares at $266,823 based on the most recent closing price.
Stock Fundamentals for PTEN
Current profitability levels for the company are sitting at:
- +7.54 for the present operating margin
- +11.98 for the gross margin
The net margin for Patterson-UTI Energy Inc. stands at +5.84. The total capital return value is set at 7.97, while invested capital returns managed to touch 6.19. Equity return is now at value 17.30, with 9.30 for asset returns.
Based on Patterson-UTI Energy Inc. (PTEN), the company’s capital structure generated 51.37 points at debt to equity in total, while total debt to capital is 33.94. Total debt to assets is 27.22, with long-term debt to equity ratio resting at 51.07. Finally, the long-term debt to capital ratio is 33.74.
When we switch over and look at the enterprise to sales, we see a ratio of 0.97, with the company’s debt to enterprise value settled at 0.19. The receivables turnover for the company is 5.74 and the total asset turnover is 0.87. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.51.
Conclusion
To put it simply, Patterson-UTI Energy Inc. (PTEN) has had a bad performance in recent times. Analysts have a mixed opinion on the stock, with some rating it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.