During the recent session, Patterson-UTI Energy Inc. (NASDAQ:PTEN)’s traded shares were 0.69 million, with the beta value of the company hitting 2.40. At the last check today, the stock’s price was $14.98, reflecting an intraday gain of 4.76% or $0.68. The 52-week high for the PTEN share is $18.77, that puts it down -25.3 from that peak though still a striking 57.01% gain since the share price plummeted to a 52-week low of $6.44. The company’s market capitalization is $3.05B, and the average trade volume was 4.42 million shares over the past three months.
Patterson-UTI Energy Inc. (PTEN) received a consensus recommendation of an Overweight from analysts. That translates to a mean rating of 2.10. PTEN has a Sell rating from 2 analyst(s) out of 16 analysts who have looked at this stock. 2 analyst(s) recommend to Hold the stock while 2 suggest Overweight, and 10 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$0.35.
Patterson-UTI Energy Inc. (NASDAQ:PTEN) trade information
Patterson-UTI Energy Inc. (PTEN) registered a 4.76% upside in the last session and has traded in the red over the past 5 sessions. The stock spiked 4.76% in intraday trading to $14.98 this Thursday, 05/12/22, hitting a weekly high. The stock’s 5-day price performance is -11.95%, and it has moved by -14.11% in 30 days. Based on these gigs, the overall price performance for the year is 77.64%.
The consensus price target of analysts on Wall Street is $19.59, which implies an increase of 23.53% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $14.00 and $24.00 respectively. As a result, PTEN is trading at a discount of -60.21% off the target high and 6.54% off the low.
Patterson-UTI Energy Inc. (PTEN) estimates and forecasts
Statistics show that Patterson-UTI Energy Inc. has outperformed its competitors in share price, compared to the industry in which it operates. Patterson-UTI Energy Inc. (PTEN) shares have gone up 57.49% during the last six months, with a year-to-date growth rate more than the industry average at 96.89% against 51.90. Yet analysts are ramping up their growth forecast for the fiscal year 2022. Revenue is predicted to grow 38.60% this quarter and then jump 47.40% in the quarter after that. In the rating firms’ projections, revenue will increase 17.90% compared to the previous financial year.
Revenue for the current quarter is expected to be $436.08 million as predicted by 10 analyst(s). Meanwhile, a consensus of 7 analyst(s) estimates revenue growth to $486.61 million by the end of Mar 2022. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $220.8 million and $240.93 million respectively. In this case, analysts expect current quarter sales to grow by 97.50% and then jump by 102.00% in the coming quarter.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -9.10%. While earnings are projected to return 21.20% in 2022.
Patterson-UTI Energy Inc. is due to release its next quarterly earnings between April 27 and May 02. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance. Investors should also take the other fundamental and operational aspects into account before investing in the stock. The forward dividend ratio for Patterson-UTI Energy Inc. is 0.16, with the dividend yield indicating at 1.12 percent, continuing the trend of increasing dividends in recent years.
Patterson-UTI Energy Inc. (NASDAQ:PTEN)’s Major holders
Patterson-UTI Energy Inc. insiders own 3.65% of total outstanding shares while institutional holders control 83.44%, with the float percentage being 86.61%. Blackrock Inc. is the largest shareholder of the company, while 300 institutions own stock in it. As of Sep 29, 2021, the company held over 30.76 million shares (or 14.30% of all shares), a total value of $276.87 million in shares.
The next largest institutional holding, with 21.14 million shares, is of Vanguard Group, Inc. (The)’s that is approximately 9.83% of outstanding shares. At the market price on Sep 29, 2021, these shares were valued at $190.24 million.
Also, the Mutual Funds coming in first place with the largest holdings of Patterson-UTI Energy Inc. (PTEN) shares are VanEck ETF Trust-VanEck Oil Services ETF and iShares Core S&P Smallcap ETF. Data provided on Oct 30, 2021 indicates that VanEck ETF Trust-VanEck Oil Services ETF owns about 14.69 million shares. This amounts to just over 6.83 percent of the company’s overall shares, with a $125.75 million market value. The same data shows that the other fund manager holds slightly less at 12.73 million, or about 5.92% of the stock, which is worth about $109.01 million.