why Patterson-UTI Energy Inc. [PTEN] is a Good Choice for Investors After New Price Target of $7.08

Patterson-UTI Energy Inc. [NASDAQ: PTEN] jumped around 0.63 points on Monday, while shares priced at $7.39 at the close of the session, up 9.32%. The company report on April 29, 2021 that Patterson-UTI Energy, Inc. to Host Earnings Call.

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Patterson-UTI Energy, Inc. (NASDAQ:PTEN) will be discussing their earnings results in their 2021 First Quarter Earnings call to be held on April 29, 2021 at 10:00 AM Eastern Time.


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To listen to the event live or access a replay of the call – visit https://www.investornetwork.com/event/presentation/76364.

Patterson-UTI Energy Inc. stock is now 40.49% up from its year-to-date (YTD) trading value. PTEN Stock saw the intraday high of $7.505 and lowest of $7.03 per share. The company’s 52-week high price is 9.74, which means current price is +41.84% above from all time high which was touched on 03/08/21.

Compared to the average trading volume of 2.33M shares, PTEN reached a trading volume of 2088101 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Patterson-UTI Energy Inc. [PTEN]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PTEN shares is $7.08 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PTEN stock is a recommendation set at 3.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Barclays have made an estimate for Patterson-UTI Energy Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on May 03, 2021. The new note on the price target was released on July 16, 2020, representing the official price target for Patterson-UTI Energy Inc. stock.

The Average True Range (ATR) for Patterson-UTI Energy Inc. is set at 0.42, with the Price to Sales ratio for PTEN stock in the period of the last 12 months amounting to 1.57. The Price to Book ratio for the last quarter was 0.69, with the Price to Cash per share for the same quarter was set at 1.15. Price to Free Cash Flow for PTEN in the course of the last twelve months was 8.32 with Quick ratio for the last quarter at 1.60.

How has PTEN stock performed recently?

Patterson-UTI Energy Inc. [PTEN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 15.11. With this latest performance, PTEN shares gained by 0.54% in over the last four-week period, additionally plugging by 193.25% over the last 6 months – not to mention a rise of 126.69% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PTEN stock in for the last two-week period is set at 57.47, with the RSI for the last a single of trading hit 64.11, and the three-weeks RSI is set at 54.51 for Patterson-UTI Energy Inc. [PTEN]. The present Moving Average for the last 50 days of trading for this stock 7.45, while it was recorded at 6.87 for the last single week of trading, and 5.14 for the last 200 days.

Patterson-UTI Energy Inc. [PTEN]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Patterson-UTI Energy Inc. [PTEN] shares currently have an operating margin of -40.49 and a Gross Margin at -31.01. Patterson-UTI Energy Inc.’s Net Margin is presently recorded at -71.49.

Return on Total Capital for PTEN is now -13.43, given the latest momentum, and Return on Invested Capital for the company is -23.77. Return on Equity for this stock declined to -33.14, with Return on Assets sitting at -19.73. When it comes to the capital structure of this company, Patterson-UTI Energy Inc. [PTEN] has a Total Debt to Total Equity ratio set at 46.02. Additionally, PTEN Total Debt to Total Capital is recorded at 31.51, with Total Debt to Total Assets ending up at 25.01. Long-Term Debt to Equity for the company is recorded at 45.66, with the Long-Term Debt to Total Capital now at 31.27.

Reflecting on the efficiency of the workforce at the company, Patterson-UTI Energy Inc. [PTEN] managed to generate an average of -$267,897 per employee. Receivables Turnover for the company is 4.40 with a Total Asset Turnover recorded at a value of 0.28.Patterson-UTI Energy Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.60 and a Current Ratio set at 1.70.

Earnings analysis for Patterson-UTI Energy Inc. [PTEN]

With the latest financial reports released by the company, Patterson-UTI Energy Inc. posted -0.54/share EPS, while the average EPS was predicted by analysts to be reported at -0.59/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 8.50%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for PTEN.

Insider trade positions for Patterson-UTI Energy Inc. [PTEN]

There are presently around $1,198 million, or 97.40% of PTEN stock, in the hands of institutional investors. The top three institutional holders of PTEN stocks are: BLACKROCK INC. with ownership of 29,143,312, which is approximately 4.191% of the company’s market cap and around 1.80% of the total institutional ownership; VANGUARD GROUP INC, holding 20,217,911 shares of the stock with an approximate value of $136.67 million in PTEN stocks shares; and DIMENSIONAL FUND ADVISORS LP, currently with $65.95 million in PTEN stock with ownership of nearly -19.39% of the company’s market capitalization.

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Positions in Patterson-UTI Energy Inc. stocks held by institutional investors increased at the end of April and at the time of the April reporting period, where 90 institutional holders increased their position in Patterson-UTI Energy Inc. [NASDAQ:PTEN] by around 16,745,454 shares. Additionally, 123 investors decreased positions by around 18,491,372 shares, while 43 investors held positions by with 142,055,729 shares. The mentioned changes placed institutional holdings at 177,292,555 shares, according to the latest SEC report filing. PTEN stock had 22 new institutional investments in for a total of 1,381,098 shares, while 30 institutional investors sold positions of 5,888,650 shares during the same period.

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