Patterson-UTI Energy Inc. [PTEN] fell -5.46% so far this year. What now?

Patterson-UTI Energy Inc. [NASDAQ: PTEN] price plunged by -1.18 percent to reach at -$0.19. The company report on January 10, 2023 that Patterson-UTI Energy Announces Fourth Quarter Earnings Conference Call and Webcast.


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PATTERSON-UTI ENERGY, INC. (NASDAQ:PTEN) will host a conference call on Thursday, February 9, 2023, at 9:00 a.m. Central Time to discuss results for the fourth quarter ended December 31, 2022.

Participants can access the call by dialing (646) 960-0676 or (888) 550-5422 with the Conference ID 3822955. The call will also be webcast and can be accessed through a link in the Investors section of the Company’s website at investor.patenergy.com. A replay of the conference call will be available on the Company’s website for two weeks.

A sum of 3087005 shares traded at recent session while its average daily volume was at 2.48M shares. Patterson-UTI Energy Inc. shares reached a high of $16.23 and dropped to a low of $15.7325 until finishing in the latest session at $15.92.

The one-year PTEN stock forecast points to a potential upside of 31.73. The average equity rating for PTEN stock is currently 2.10, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on 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 $23.32 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 2.10. 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.

The Benchmark Company have made an estimate for Patterson-UTI Energy Inc. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on January 19, 2023. The new note on the price target was released on January 17, 2023, representing the official price target for Patterson-UTI Energy Inc. stock.

The Average True Range (ATR) for Patterson-UTI Energy Inc. is set at 0.87, with the Price to Sales ratio for PTEN stock in the period of the last 12 months amounting to 1.49. The Price to Book ratio for the last quarter was 2.11, with the Price to Cash per share for the same quarter was set at 0.20.

PTEN Stock Performance Analysis:

Patterson-UTI Energy Inc. [PTEN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -7.12. With this latest performance, PTEN shares dropped by -1.67% in over the last four-week period, additionally plugging by 11.33% over the last 6 months – not to mention a rise of 56.08% 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 42.56, with the RSI for the last a single of trading hit 37.74, and the three-weeks RSI is set at 45.22 for Patterson-UTI Energy Inc. [PTEN]. The present Moving Average for the last 50 days of trading for this stock 17.22, while it was recorded at 16.80 for the last single week of trading, and 15.90 for the last 200 days.

Insight into Patterson-UTI Energy Inc. 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 -49.10 and a Gross Margin at -42.30. Patterson-UTI Energy Inc.’s Net Margin is presently recorded at -48.42.

Return on Equity for this stock declined to -36.25, with Return on Assets sitting at -19.71.

Patterson-UTI Energy Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.40 and a Current Ratio set at 1.50.

Patterson-UTI Energy Inc. [PTEN] Insider Position Details

There are presently around $3,394 million, or 99.00% of PTEN stock, in the hands of institutional investors. The top three institutional holders of PTEN stocks are: BLACKROCK INC. with ownership of 40,347,866, which is approximately 3.644% of the company’s market cap and around 1.00% of the total institutional ownership; VANGUARD GROUP INC, holding 25,644,174 shares of the stock with an approximate value of $408.25 million in PTEN stocks shares; and MACQUARIE GROUP LTD, currently with $221.18 million in PTEN stock with ownership of nearly 3.192% of the company’s market capitalization.

Positions in Patterson-UTI Energy Inc. stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 149 institutional holders increased their position in Patterson-UTI Energy Inc. [NASDAQ:PTEN] by around 17,992,096 shares. Additionally, 134 investors decreased positions by around 27,899,710 shares, while 38 investors held positions by with 167,271,526 shares. The mentioned changes placed institutional holdings at 213,163,332 shares, according to the latest SEC report filing. PTEN stock had 53 new institutional investments in for a total of 4,864,180 shares, while 33 institutional investors sold positions of 9,591,146 shares during the same period.

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