Patterson-UTI Energy Inc [PTEN] stock is trading at $8.70, up 4.88%. 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 14.32% over the last week, with a monthly amount glided 4.95%, 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.
Patterson-UTI Energy Inc [PTEN] stock has fluctuated between $7.38 and $12.65 over the past year. Currently, Wall Street analysts expect the stock to reach $16.81 within the next 12 months. Patterson-UTI Energy Inc [NASDAQ: PTEN] shares were valued at $8.70 at the most recent close of the market. An investor can expect a potential return of 93.22% based on the average PTEN price forecast.
Analyzing the PTEN fundamentals
Patterson-UTI Energy Inc [NASDAQ:PTEN] reported sales of 5.80B for the trailing twelve months, which represents a growth of 34.19%. Gross Profit Margin for this corporation currently stands at 0.07% with Operating Profit Margin at -0.13%, Pretax Profit Margin comes in at -0.14%, and Net Profit Margin reading is -0.15%. To continue investigating profitability, this company’s Return on Assets is posted at -0.14, Equity is -0.19 and Total Capital is -0.14. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 0.35.
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 8.40 points at the first support level, and at 8.10 for the second support level. However, for the 1st resistance point, the stock is sitting at 8.88, and for the 2nd resistance point, it is at 9.06.
Ratios To Look Out For
For context, Patterson-UTI Energy Inc’s Current Ratio is 1.52. Further, the Quick Ratio stands at 1.32, while the Cash Ratio is 0.13. Considering the valuation of this stock, the price to sales ratio is 0.58, the price to book ratio is 0.95.
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 0.19 million shares on Feb 29 ’24.
