Patterson-UTI Energy Inc [NASDAQ: PTEN] jumped around 0.4 points on Monday, while shares priced at $8.70 at the close of the session, up 4.88%.
Compared to the average trading volume of 7.82M shares, PTEN reached a trading volume of 8427104 in the most recent trading day, which is why market watchdogs consider the stock to be active.
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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 $11.41 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 1.75. 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 0.36, with the Price to Sales ratio for PTEN stock in the period of the last 12 months amounting to 0.58. The Price to Book ratio for the last quarter was 0.95, with the Price to Cash per share for the same quarter was set at 0.30. Price to Free Cash Flow for PTEN in the course of the last twelve months was 5.89 with Quick ratio for the last quarter at 1.32.
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 14.32. With this latest performance, PTEN shares gained by 4.95% in over the last four-week period, additionally sinking by -20.48% over the last 6 months – not to mention a drop of -28.16% 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 61.51, with the RSI for the last a single of trading hit 67.36, and the three-weeks RSI is set at 57.09 for Patterson-UTI Energy Inc [PTEN]. The present Moving Average for the last 50 days of trading for this stock 8.08, while it was recorded at 8.32 for the last single week of trading, and 10.06 for the last 200 days.
Patterson-UTI Energy Inc [PTEN]: Deeper insight into the fundamentals
Patterson-UTI Energy Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.32 and a Current Ratio set at 1.52.
Earnings analysis for Patterson-UTI Energy Inc [PTEN]
With the latest financial reports released by the company, Patterson-UTI Energy Inc posted 0.15/share EPS, while the average EPS was predicted by analysts to be reported at 0.19/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -0.04. 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%.
Insider trade positions for Patterson-UTI Energy Inc [PTEN]
There are presently around $101.47%, or 104.11%% of PTEN stock, in the hands of institutional investors. The top three institutional holders of PTEN stocks are: BLACKROCK INC. with ownership of 57.44 million shares, which is approximately 14.073%. VANGUARD GROUP INC, holding 45.15 million shares of the stock with an approximate value of $$467.77 million in PTEN stocks shares; and VANGUARD GROUP INC, currently with $$297.55 million in PTEN stock with ownership which is approximately 7.1882%.
