Patterson-UTI Energy Inc (NASDAQ:PTEN) price on current trading day, fall -2.59% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $7.90.
A look at the stock’s price movement, the close in the last trading session was $8.11. Turning to its 52-week performance, $12.65 and $7.15 were the 52-week high and 52-week low respectively. Overall, PTEN moved -5.95% over the past month.
Patterson-UTI Energy Inc’s market cap currently stands at around $3.05 billion, with investors looking forward to this quarter’s earnings report slated for in March. The company has a Forward Dividend ratio of 0.32, with its dividend yield at 4.05%. As such, investors might be keen on an upside in the stock’s price ahead of the scheduled earnings report.
Analysts have a consensus estimate of 1.18B for the company’s revenue for the quarter, with a low and high estimate of 1.14B and 1.21B respectively. The average forecast suggests down to a -21.92% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 4.85B, representing a -9.74% decline on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that PTEN is a Hold. On the other hand, the stock is on average a 50% Sell as suggested by medium term indicators while long term indicators are putting the stock in 100% Sell category.
10 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 1 analyst(s) rate the stock as a Hold, 7 recommend PTEN as a Buy and 2 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
PTEN’s current price about -7.27% and -5.92% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 38.07, while 7-day volatility ratio is 4.60% and 4.51% in the 30-day chart. Further, Patterson-UTI Energy Inc (PTEN) has a beta value of 2.01, and an average true range (ATR) of 0.38. Analysts have given the company’s stock an average 52-week price target of $12, forecast between a low of $10.5 and high of $13. Looking at the price targets, the low is -32.91% off current price level while to achieve the yearly target high, price needs to move -64.56%. Nonetheless, investors will most likely welcome a -51.9% jump to $12 which is the analysts’ median price.
If we refocus on Patterson-UTI Energy Inc (NASDAQ:PTEN), historical trading data shows that trading volumes averaged 9.04 million over the past 3 months. The company’s latest data on shares outstanding shows there are 387.34 million shares.
The 9.88% of Patterson-UTI Energy Inc’s shares are in the hands of company insiders while institutional holders own 97.28% of the company’s shares. Current price change has pushed the stock -4.36% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the PTEN stock continues to rise going into the next quarter.
