Patterson-UTI Energy Inc [PTEN] stock prices are up 3.05% to $12.52 at the moment. An important factor to consider is whether the stock is rising or falling in short-term value. The PTEN shares have gain 4.86% over the last week, with a monthly amount glided 7.47%, and seem to be holding up well over a long-time horizon.
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On 3, April 2024, Patterson-UTI Reports Drilling Activity for March 2024. In a post published today on Yahoo Finance, PATTERSON-UTI ENERGY, INC. (NASDAQ:PTEN) today reported that for the month of March 2024, the Company had an average of 120 drilling rigs operating in the United States. For the three months ended March 31, 2024, the Company had an average of 121 drilling rigs operating in the United States.
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.
The stock price of Patterson-UTI Energy Inc [PTEN] has been fluctuating between $9.70 and $16.17 over the past year. 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 $12.52 at the most recent close of the market. An investor can expect a potential return of 66.13% based on the average PTEN price forecast.
Analyzing the PTEN fundamentals
The Patterson-UTI Energy Inc [NASDAQ:PTEN] reported sales of 4.15B for trailing twelve months, representing a surge of 100.93%. 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%. To continue investigating profitability, this company’s Return on Assets is posted at 0.03, Equity is 0.08 and Total Capital is 0.06. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of0.27.
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 12.17 points at the first support level, and at 11.83 for the second support level. However, for the 1st resistance point, the stock is sitting at 12.71, and for the 2nd resistance point, it is at 12.90.
Patterson-UTI Energy Inc [PTEN] reported earnings per share of $0.15 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $0.19/share, meaning a difference of -$0.04 and a surprise factor of -21.10%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were $0 per share as compared to estimates of $0.25 per share, a difference of -$0.25 representing a surprise of -100.00%.
Ratios To Look Out For
It’s worth pointing out that Patterson-UTI Energy Inc [NASDAQ:PTEN]’s Current Ratio is 1.41. On the other hand, the Quick Ratio is 1.24, and the Cash Ratio is 0.18. Considering the valuation of this stock, the price to sales ratio is 1.23, the price to book ratio is 1.07 and price to earnings (TTM) ratio is 12.34.
Transactions by insiders
Recent insider trading involved Drummond Robert Wayne Jr, Director, that happened on Mar 01 ’24 when 65344.0 shares were sold. Director, Drummond Robert Wayne Jr completed a deal on Feb 29 ’24 to sell 0.19 million shares. Meanwhile, Director CEPAK TIFFANY THOM sold 15000.0 shares on Dec 01 ’23.
