At the time of writing, Patterson-UTI Energy Inc [PTEN] stock is trading at $10.15, up 0.89%. An important factor to consider is whether the stock is rising or falling in short-term value. The PTEN shares have gain 0.59% over the last week, with a monthly amount drifted -2.40%, and not 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.
For the past year, the stock price of Patterson-UTI Energy Inc fluctuated between $9.68 and $16.17. Currently, Wall Street analysts expect the stock to reach $19.67 within the next 12 months. Patterson-UTI Energy Inc [NASDAQ: PTEN] shares were valued at $10.15 at the most recent close of the market. An investor can expect a potential return of 93.79% based on the average PTEN price forecast.
Analyzing the PTEN fundamentals
According to Patterson-UTI Energy Inc [NASDAQ:PTEN], the company’s sales were 4.87B for trailing twelve months, which represents an 90.75% jump. Gross Profit Margin for this corporation currently stands at 0.13% with Operating Profit Margin at 0.07%, Pretax Profit Margin comes in at 0.05%, and Net Profit Margin reading is 0.04%. To continue investigating profitability, this company’s Return on Assets is posted at 0.03, Equity is 0.05 and Total Capital is 0.05. 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 10.02 points at the first support level, and at 9.90 for the second support level. However, for the 1st resistance point, the stock is sitting at 10.24, and for the 2nd resistance point, it is at 10.35.
Ratios To Look Out For
It is important to note that Patterson-UTI Energy Inc [NASDAQ:PTEN] has a current ratio of 1.48. On the other hand, the Quick Ratio is 1.28, and the Cash Ratio is 0.19. Considering the valuation of this stock, the price to sales ratio is 0.84, the price to book ratio is 0.86 and price to earnings (TTM) ratio is 14.97.
Transactions by insiders
Recent insider trading involved Gillard Matthew, President-Completions, that happened on Jun 18 ’24 when 60000.0 shares were sold. Director, Drummond Robert Wayne Jr completed a deal on May 20 ’24 to sell 0.15 million shares. Meanwhile, Director Drummond Robert Wayne Jr sold 65344.0 shares on Mar 01 ’24.
