Patterson-UTI Energy Inc. [PTEN] shares are down more than -65.77% this year and recently decreased -0.05% or -$0.14 to settle at $2.79. PTEN has a short ratio of 7.03. This implies that the market is currently less bearish on the outlook for PTEN.

On 5, October 2020, Patterson-UTI Reports Drilling Activity for September 2020. According to news published on Yahoo Finance, PATTERSON-UTI ENERGY, INC. (NASDAQ: PTEN) today reported that for the month of September 2020, the Company had an average of 60 drilling rigs operating. For the three months ended September 30, 2020, the Company had an average of 60 drilling rigs operating.

Analyst Birdseye View:

The most recent analyst activity for Patterson-UTI Energy Inc. [NASDAQ:PTEN] stock was on April 27, 2020, when it was Downgrade with a Hold rating from Gabelli & Co. On April 14, 2020, Cowen Downgrade a Market perform rating and boosted its price target on this stock to $3. On April 06, 2020, Bernstein Upgrade a Mkt perform rating. On March 19, 2020, Wolfe Research Downgrade an Underperform rating. On March 16, 2020, Morgan Stanley Downgrade an Equal-weight rating and boosted its amount on this stock to $2.50. On March 13, 2020, Piper Sandler Downgrade a Neutral rating.

In the past 52 weeks of trading, this stock has oscillated between a low of $1.61 and a peak of $10.95. Right now, according to Wall Street analyst the average 12-month amount target is $3.95. At the most recent market close, shares of Patterson-UTI Energy Inc. [NASDAQ:PTEN] were valued at $2.79. According to the average price forecast, investors can expect a potential return of 1.25%.

FUNDAMENTAL ANALYSIS

Patterson-UTI Energy Inc. [NASDAQ:PTEN] most recently reported quarterly sales of 250.38 billion, which represented growth of -62.90%. This publicly-traded organization’s revenue is $425,980 per employee, while its income is -$73,397 per employee. This company’s Gross Margin is currently 26.80%, its Operating Margin is -58.40%, its Pretax Margin is -21.47, and its Net Margin is -17.23. Continuing to look at profitability, this corporation’s Return on Assets, Equity, Whole Principal & invested Principal is sitting at -8.28, -13.43, -10.63 and -10.07 respectively.

The Principal structure of this organization shows its whole liability to whole principal at 26.15 and the whole liability to whole assets at 22.59. It shows enduring liability to the whole principal at 25.89 and enduring liability to assets at 0.22 while looking for an extended time period.

Readers are usually of view to make a close observation to the indicators that support and make resistance before moving to any particular stock. As of now, the company’s stock is sitting at 2.73 points at 1st support level, the second support level is making up to 2.66. But as of 1st resistance point, this stock is sitting at 2.92 and at 3.04 for 2nd resistance point.

Patterson-UTI Energy Inc. [PTEN] reported its earnings at -$0.54 per share in the fiscal quarter closing of 6/29/2020. The Analysts for Wall Street were expecting to report its earnings at -$0.59/share signifying the difference of 0.05 and 8.50% surprise value. Comparing the previous quarter ending of 3/30/2020, the stated earnings were -$0.44 calling estimates for -$0.46/share with the difference of 0.02 depicting the surprise of 4.30%.

Important Ratio’s To Watch

Meanwhile, turning our focus to liquidity, the Current Ratio for Patterson-UTI Energy Inc. [NASDAQ:PTEN] is 1.90. Likewise, the Quick ratio is also the same, showing Cash ratio at 0.43. Now if looking for a valuation of this stock’s amount to sales ratio it’s 0.86 and it’s amount to book ratio is 0.71.

Insider Stories

The most recent insider trade was by Judah Janeen S, Director, and it was the purchase of 25000.0 shares on Mar 12. Hendricks William Andrew JR, the President & CEO, completed a purchase of 50000.0 shares on Mar 12. On Mar 11, HUFF CURTIS W, Director, completed a purchase of 70000.0 shares.