As of right now, Patterson-UTI Energy Inc. [PTEN] is trading at $12.99, climbing down -2.99%. In order to assess the stock’s recent performance, you can check whether its short-term value is rising or falling. The PTEN shares have lost -11.45% over the last week, with a monthly amount drifted -18.51%, and not seem to be holding up well over a long-time horizon.
On 9, September 2022, Patterson-UTI Energy Announces Death of Co-Founder and Former CEO, Cloyce A. Talbott. In a post published today on Yahoo Finance, PATTERSON-UTI ENERGY, INC. (NASDAQ:PTEN) today announced with great sadness that Cloyce A. Talbott, wildcatter, businessman and civic leader, passed away peacefully on September 8, 2022.
From an analyst’s perspective:
Patterson-UTI Energy Inc. [NASDAQ: PTEN] stock has seen the most recent analyst activity on July 15, 2022, when BofA Securities downgraded its rating to a Neutral and also revised its price target to $13.50 from $22. Previously, Piper Sandler downgraded its rating to Neutral on June 01, 2022, and elevated its price target to $22.75. On May 26, 2022, upgrade upgraded it’s rating to Neutral but maintained its price target of $20 on the stock. The Benchmark Company started tracking the stock assigning a Buy rating and suggested a price target of $21 on April 19, 2022. Piper Sandler upgraded its rating to a Overweight and raised its price target to $10.25 on December 21, 2021. Citigroup upgraded its rating to Buy for this stock on December 10, 2021, but kept the price target unchanged to $11. In a note dated December 07, 2021, Morgan Stanley upgraded an Overweight rating on this stock and boosted its target price from $10 to $12.
Through the last year, Patterson-UTI Energy Inc.’s stock price ranged from $6.70 to $20.53. Currently, Wall Street analysts expect the stock to reach $21.31 within the next 12 months. Patterson-UTI Energy Inc. [NASDAQ: PTEN] shares were valued at $12.99 at the most recent close of the market. An investor can expect a potential return of 64.05% based on the average price forecast.
Analyzing the PTEN fundamentals
For Apple Inc, (PTEN), the latest quarter sales were 622.24 billion, which represents an 113.20% increase. Gross Margin for this corporation currently stands at -42.30% with Operating Margin at -49.10%, Pretax Margin comes in at -53.04%, and Net Margin reading is -48.42%.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 12.67 points at the first support level, and at 12.34 for the second support level. However, for the 1st resistance point, the stock is sitting at 13.61, and for the 2nd resistance point, it is at 14.22.
Patterson-UTI Energy Inc. [PTEN] reported earnings per share of $0.1 for its fiscal quarter that ended on 6/29/2022. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of -$0.04/share, meaning a difference of $0.14 and a surprise factor of 350.00%. By comparison, the stated earnings for the previous quarter ended on 3/30/2022 were -$0.13 per share as compared to estimates of -$0.21 per share, a difference of $0.08 representing a surprise of 38.10%.
Ratios To Look Out For
It is important to note that Patterson-UTI Energy Inc. [NASDAQ:PTEN] has a current ratio of 1.40. In addition, the Quick Ratio stands at 1.24 and the Cash Ratio stands at 0.27. Considering the valuation of this stock, the price to sales ratio is 1.21, the price to book ratio is 1.13.
Transactions by insiders
In the past 3 months, 0 insiders have purchased 0 shares, and 3 have sold 116,666 shares. Recent insider trading involved Holcomb James Michael, President-Drilling Subsidiary, that happened on Aug 23 when 8333.0 shares were sold. President-Drilling Subsidiary, Holcomb James Michael completed a deal on Jul 29 to sell 8333.0 shares. Meanwhile, President & CEO Hendricks William Andrew JR sold 100000.0 shares on Jul 11.