In recent trading session, Patterson-UTI Energy Inc. (NASDAQ:PTEN) saw 0.71 million shares changing hands at last check today with its beta currently measuring 2.97. Company’s recent per share price level of $10.17 trading at $0.25 or 2.52% at last check today assigns it a market valuation of $2.14B. That most recent trading price of PTEN’s stock is at a discount of -10.82% from its 52-week high price of $11.27 and is indicating a premium of 44.35% from its 52-week low price of $5.66. Taking a look at company’s average trading volume of 3.08 million if we extend that period to 3-months.
For Patterson-UTI Energy Inc. (PTEN), analysts’ consensus is at an average recommendation of an Overweight while assigning it a mean rating of 2.10. Splitting up the data highlights that, out of 16 analysts covering the stock, 1 rated the stock as a Sell while 1 recommended an Overweight rating for the stock. 4 suggested the stock as a Hold whereas 10 see the stock as a Buy. 0 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of -$0.35 in the current quarter.
Patterson-UTI Energy Inc. (NASDAQ:PTEN) trade information
Upright in the green today for gaining 2.52%, in the last five days PTEN remained trading in the green while hitting it’s week-highest on Wednesday, 01/12/22 when the stock touched $10.17 price level, adding 2.4% to its value on the day. Patterson-UTI Energy Inc.’s shares saw a change of 17.40% in year-to-date performance and have moved 2.37% in past 5-day. Patterson-UTI Energy Inc. (NASDAQ:PTEN) showed a performance of 21.12% in past 30-days.
Wall Street analysts have assigned a consensus price target of $11.07 to the stock, which implies a rise of 8.13% to its recent value today. Analysts have been projecting $9.00 as a low price target for the stock while placing it at a high target of $13.00. It follows that stock’s current price would drop -27.83% in reaching the projected high whereas dropping to the targeted low would mean a gain of 11.5% for stock’s current value.
Patterson-UTI Energy Inc. (PTEN) estimates and forecasts
Statistics highlight that Patterson-UTI Energy Inc. is scoring comparatively higher than the scores of other players of the relevant industry. The company added 20.39% of value to its shares in past 6 months, showing an annual growth rate of 11.98% while that of industry is 8.70. Apart from that, the company came raising its revenue forecast for fiscal year 2022. The company is estimating its revenue growth to increase by 38.60% in the current quarter and calculating 47.40% increase in the next quarter. This year revenue growth is estimated to rise 17.90% from the last financial year’s standing.
10 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $436.08 million for the same. And 7 analysts are in estimates of company making revenue of $487.28 million in the next quarter that will end on Mar 2022. Company posted $220.8 million and $240.93 million of sales in current and next quarters respectively a year earlier. Analysts are expecting this quarter sales to grow by 97.50% while estimating it to be 102.30% for the next quarter.
Weighing up company’s earnings over the past 5-year and in the next 5-year periods, we find the company posting an annual earnings growth rate of -16.40% during past 5 years.
Patterson-UTI Energy Inc. is more likely to be releasing its next quarterly report on February 10 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.
Patterson-UTI Energy Inc. (NASDAQ:PTEN)’s Major holders
Insiders are in possession of 3.65% of company’s total shares while institution are holding 83.46 percent of that, with stock having share float percentage of 86.62%. Investors also watch the number of corporate investors in a company very closely, which is 83.46% institutions for Patterson-UTI Energy Inc. that are currently holding shares of the company. Blackrock Inc. is the top institutional holder at PTEN for having 30.76 million shares of worth $276.87 million. And as of Sep 29, 2021, it was holding 14.30% of the company’s outstanding shares.
The second largest institutional holder is Vanguard Group, Inc. (The), which was holding about 21.14 million shares on Sep 29, 2021. The number of shares represents firm’s hold over 9.83% of outstanding shares, having a total worth of $190.24 million.
On the other hand, VanEck ETF Trust-VanEck Oil Services ETF and iShares Core S&P Smallcap ETF are the top two Mutual Funds which own company’s shares. As of Oct 30, 2021, the former fund manager was holding 14.69 million shares of worth $125.75 million or 6.83% of the total outstanding shares. The later fund manager was in possession of 12.73 million shares on Oct 30, 2021, making its stake of worth around $109.01 million in the company or a holder of 5.92% of company’s stock.