Patterson-UTI Energy Inc. [PTEN] Stock trading around $11.81 per share: What’s Next?

Patterson-UTI Energy Inc. [NASDAQ: PTEN] price surged by 3.05 percent to reach at $0.35. The company report on March 28, 2023 that Patterson-UTI Energy Announces First Quarter Earnings Conference Call and Webcast.

PATTERSON-UTI ENERGY, INC. (NASDAQ:PTEN) will host a conference call on Thursday, April 27, 2023, at 9:00 a.m. Central Time to discuss results for the first quarter ending March 31, 2023.

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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 A replay of the conference call will be available on the Company’s website for two weeks.

A sum of 3573813 shares traded at recent session while its average daily volume was at 3.46M shares. Patterson-UTI Energy Inc. shares reached a high of $12.145 and dropped to a low of $11.32 until finishing in the latest session at $11.81.

The one-year PTEN stock forecast points to a potential upside of 45.07. The average equity rating for PTEN stock is currently 2.20, 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 $21.50 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 0.76, with the Price to Sales ratio for PTEN stock in the period of the last 12 months amounting to 0.96. The Price to Book ratio for the last quarter was 1.53, with the Price to Cash per share for the same quarter was set at 0.64. Price to Free Cash Flow for PTEN in the course of the last twelve months was 29.32 with Quick ratio for the last quarter at 1.40.

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 -0.51. With this latest performance, PTEN shares dropped by -15.28% in over the last four-week period, additionally plugging by 6.30% over the last 6 months – not to mention a drop of -26.65% 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 40.35, with the RSI for the last a single of trading hit 44.23, and the three-weeks RSI is set at 39.56 for Patterson-UTI Energy Inc. [PTEN]. The present Moving Average for the last 50 days of trading for this stock 14.36, while it was recorded at 11.17 for the last single week of trading, and 15.25 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 +7.54 and a Gross Margin at +11.98. Patterson-UTI Energy Inc.’s Net Margin is presently recorded at +5.84.

Return on Total Capital for PTEN is now 7.97, given the latest momentum, and Return on Invested Capital for the company is 6.19. Return on Equity for this stock inclined to 9.44, with Return on Assets sitting at 5.07. 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 51.37. Additionally, PTEN Total Debt to Total Capital is recorded at 33.94, with Total Debt to Total Assets ending up at 27.22. Long-Term Debt to Equity for the company is recorded at 51.07, with the Long-Term Debt to Total Capital now at 33.74.

Reflecting on the efficiency of the workforce at the company, Patterson-UTI Energy Inc. [PTEN] managed to generate an average of $23,794 per employee. Receivables Turnover for the company is 5.74 with a Total Asset Turnover recorded at a value of 0.87.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 $2,473 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 $298.01 million in PTEN stocks shares; and MACQUARIE GROUP LTD, currently with $165.47 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 167 institutional holders increased their position in Patterson-UTI Energy Inc. [NASDAQ:PTEN] by around 14,539,500 shares. Additionally, 137 investors decreased positions by around 20,243,357 shares, while 37 investors held positions by with 181,048,889 shares. The mentioned changes placed institutional holdings at 215,831,746 shares, according to the latest SEC report filing. PTEN stock had 58 new institutional investments in for a total of 4,618,341 shares, while 28 institutional investors sold positions of 2,650,514 shares during the same period.


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