Patterson-UTI Energy Inc. [NASDAQ: PTEN] jumped around 0.63 points on Wednesday, while shares priced at $14.33 at the close of the session, up 4.60%.
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Patterson-UTI Energy Inc. stock is now -14.90% down from its year-to-date (YTD) trading value. PTEN Stock saw the intraday high of $14.375 and lowest of $13.63 per share. The company’s 52-week high price is 20.53, which means current price is +11.87% above from all time high which was touched on 01/12/23.
Compared to the average trading volume of 2.90M shares, PTEN reached a trading volume of 3235690 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 $22.12 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 2.20. 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 0.75, with the Price to Sales ratio for PTEN stock in the period of the last 12 months amounting to 1.14. The Price to Book ratio for the last quarter was 1.85, with the Price to Cash per share for the same quarter was set at 0.65. Price to Free Cash Flow for PTEN in the course of the last twelve months was 34.94 with Quick ratio for the last quarter at 1.40.
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 8.56. With this latest performance, PTEN shares dropped by -14.19% in over the last four-week period, additionally sinking by -10.44% over the last 6 months – not to mention a drop of -0.69% 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 44.18, with the RSI for the last a single of trading hit 47.58, and the three-weeks RSI is set at 43.75 for Patterson-UTI Energy Inc. [PTEN]. The present Moving Average for the last 50 days of trading for this stock 15.92, while it was recorded at 13.75 for the last single week of trading, and 15.75 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 +7.54 and a Gross Margin at +11.98. Patterson-UTI Energy Inc.’s Net Margin is presently recorded at +5.84.
Return on Equity for this stock inclined to 9.44, with Return on Assets sitting at 5.07.
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.
Insider trade positions for Patterson-UTI Energy Inc. [PTEN]
There are presently around $3,093 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 41,182,824, which is approximately 2.069% of the company’s market cap and around 1.00% of the total institutional ownership; VANGUARD GROUP INC, holding 26,004,724 shares of the stock with an approximate value of $372.65 million in PTEN stocks shares; and MACQUARIE GROUP LTD, currently with $206.91 million in PTEN stock with ownership of nearly 3.928% of the company’s market capitalization.
Positions in Patterson-UTI Energy Inc. stocks held by institutional investors increased at the end of Thursday and at the time of the Thursday reporting period, where 168 institutional holders increased their position in Patterson-UTI Energy Inc. [NASDAQ:PTEN] by around 14,524,385 shares. Additionally, 135 investors decreased positions by around 20,239,263 shares, while 38 investors held positions by with 181,053,500 shares. The mentioned changes placed institutional holdings at 215,817,148 shares, according to the latest SEC report filing. PTEN stock had 59 new institutional investments in for a total of 4,602,489 shares, while 27 institutional investors sold positions of 2,648,225 shares during the same period.