Patterson-UTI Energy Inc [NASDAQ: PTEN] stock went on a downward path that fall over -1.48% on Monday, amounting to a one-week price decrease of less than -1.31%.
Over the last 12 months, PTEN stock dropped by -6.20%. The one-year Patterson-UTI Energy Inc stock forecast points to a potential upside of 28.86. The average equity rating for PTEN stock is currently 1.67, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $4.63 billion, with 411.20 million shares outstanding and 356.63 million shares in the current float. Compared to the average trading volume of 6.69M shares, PTEN stock reached a trading volume of 6504962 in the most recent trading day, which is why market watchdogs consider the stock to be active.
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 $15.94 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 1.67. 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 16, 2024. While these analysts kept the previous recommendation, Goldman raised their target price to Neutral. The new note on the price target was released on December 19, 2023, representing the official price target for Patterson-UTI Energy Inc stock. Previously, the target price had yet another drop from $20 to $17, while Morgan Stanley kept a Equal-Weight rating on PTEN stock. On October 16, 2023, analysts increased their price target for PTEN shares from 14 to 16.
The Average True Range (ATR) for Patterson-UTI Energy Inc is set at 0.40, with the Price to Sales ratio for PTEN stock in the period of the last 12 months amounting to 1.12. The Price to Book ratio for the last quarter was 0.97, with the Price to Cash per share for the same quarter was set at 0.47. Price to Free Cash Flow for PTEN in the course of the last twelve months was 11.86 with Quick ratio for the last quarter at 1.24.
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 -1.31. With this latest performance, PTEN shares dropped by -4.22% in over the last four-week period, additionally sinking by -18.77% over the last 6 months – not to mention a drop of -6.20% 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 43.18, with the RSI for the last a single of trading hit 39.38, and the three-weeks RSI is set at 45.89 for Patterson-UTI Energy Inc [PTEN]. The present Moving Average for the last 50 days of trading for this stock 11.65, while it was recorded at 11.35 for the last single week of trading, and 12.59 for the last 200 days.
Insight into Patterson-UTI Energy Inc Fundamentals:
Patterson-UTI Energy Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.24 and a Current Ratio set at 1.41.
PTEN Stock EPS
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. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Patterson-UTI Energy Inc go to 44.60%.
Patterson-UTI Energy Inc [PTEN] Institutonal Ownership Details
The top three institutional holders of PTEN stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in PTEN stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in PTEN stock with ownership which is approximately 5.8386%.
