Currently, Patterson-UTI Energy Inc [PTEN] is trading at $11.74, up 1.47%. It is a good measure of the stock’s recent performance to check whether the stock’s short-term value is rising or falling. The PTEN shares have gain 1.47% over the last week, with a monthly amount glided 5.86%, and seem to be holding up well over a long-time horizon.
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From an analyst’s perspective:
Patterson-UTI Energy Inc [NASDAQ: PTEN] stock has seen the most recent analyst activity on January 16, 2024, when The Benchmark Company downgraded its rating to a Hold. Previously, Goldman started tracking the stock with Neutral rating on December 19, 2023, and set its price target to $12. On October 17, 2023, downgrade downgraded it’s rating to Equal-Weight and revised its price target to $17 on the stock. BofA Securities upgraded its rating to a Buy and increased its price target to $16 on October 16, 2023. Citigroup upgraded its rating to a Buy and raised its price target to $18 on October 09, 2023. Stifel started tracking with a Buy rating for this stock on September 05, 2023, and assigned it a price target of $19. In a note dated July 19, 2023, The Benchmark Company upgraded an Buy rating on this stock.
This stock has fluctuated between a low of $9.70 and a high of $16.17 over the last 52 weeks. Currently, Wall Street analysts expect the stock to reach $20.8 within the next 12 months. Patterson-UTI Energy Inc [NASDAQ: PTEN] shares were valued at $11.74 at the most recent close of the market. An investor can expect a potential return of 77.17% based on the average PTEN price forecast.
Analyzing the PTEN fundamentals
Trailing Twelve Months sales for Patterson-UTI Energy Inc [NASDAQ:PTEN] were 4.15B which represents 100.93% growth. Gross Profit Margin for this corporation currently stands at 0.15% with Operating Profit Margin at 0.09%, Pretax Profit Margin comes in at 0.07%, and Net Profit Margin reading is 0.06%.
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 11.55 points at the first support level, and at 11.36 for the second support level. However, for the 1st resistance point, the stock is sitting at 11.91, and for the 2nd resistance point, it is at 12.08.
Ratios To Look Out For
To put it in perspective, the Current Ratio for Patterson-UTI Energy Inc [NASDAQ:PTEN] is 1.41. Further, the Quick Ratio stands at 1.24, while the Cash Ratio is 0.18. Considering the valuation of this stock, the price to sales ratio is 1.16, the price to book ratio is 1.00 and price to earnings (TTM) ratio is 11.57.
Transactions by insiders
Recent insider trading involved CEPAK TIFFANY THOM, Director, that happened on Dec 01 when 15000.0 shares were sold. EVP & Chief Financial Officer, Smith Charles Andrew completed a deal on Sep 27 to sell 10000.0 shares. Meanwhile, EVP & Chief Financial Officer Smith Charles Andrew sold 10000.0 shares on Sep 19.
