Patterson-UTI Energy Inc. (NASDAQ:PTEN) has a beta value of 2.25 and has seen 2.16 million shares traded in the last trading session. The company, currently valued at $3.09B, closed the last trade at $13.57 per share which meant it lost -$0.58 on the day or -4.10% during that session. The PTEN stock price is -51.29% off its 52-week high price of $20.53 and 50.63% above the 52-week low of $6.70. If we look at the company’s 10-day average daily trading volume, we find that it stood at 2.62 million shares traded. The 3-month trading volume is 3.01 million shares.
The consensus among analysts is that Patterson-UTI Energy Inc. (PTEN) is an Overweight stock at the moment, with a recommendation rating of 2.20. 0 analysts rate the stock as a Sell, while 2 rate it as Overweight. 4 out of 14 have rated it as a Hold, with 7 advising it as a Buy. 1 have rated the stock as Underweight. The expected earnings per share for the stock is $0.08.
Patterson-UTI Energy Inc. (NASDAQ:PTEN) trade information
Sporting -4.10% in the red in last session, the stock has traded in the red over the last five days, with the highest price hit on Tuesday, 09/20/22 when the PTEN stock price touched $13.57 or saw a rise of 13.79%. Year-to-date, Patterson-UTI Energy Inc. shares have moved 60.59%, while the 5-day performance has seen it change -8.62%. Over the past 30 days, the shares of Patterson-UTI Energy Inc. (NASDAQ:PTEN) have changed -9.95%. Short interest in the company has seen 9.32 million shares shorted with days to cover at 2.09.
Wall Street analysts have a consensus price target for the stock at $21.31, which means that the shares’ value could jump 36.32% from current levels. The projected low price target is $18.00 while the price target rests at a high of $26.00. In that case, then, we find that the current price level is -91.6% off the targeted high while a plunge would see the stock gain -32.65% from current levels.
Patterson-UTI Energy Inc. (PTEN) estimates and forecasts
Figures show that Patterson-UTI Energy Inc. shares have outperformed across the wider relevant industry. The company’s shares have lost -10.90% over the past 6 months, with this year growth rate of 118.65%, compared to 18.00% for the industry. Other than that, the company has, however, increased its growth outlook for the 2022 fiscal year revenue. Growth estimates for the current quarter are 118.60% and 131.60% for the next quarter. Revenue growth from the last financial year stood is estimated to be 74.40%.
9 analysts offering their estimates for the company have set an average revenue estimate of $637.91 million for the current quarter. 9 have an estimated revenue figure of $653.2 million for the next quarter concluding in Dec 2022.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was -9.10% over the past 5 years.
Patterson-UTI Energy Inc. is expected to release its next earnings report between April 27 and May 02 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue. The forward dividend is 0.16 at a share yield of 1.18%. The company’s dividend yield has gone up over the past 12 months.
Patterson-UTI Energy Inc. (NASDAQ:PTEN)’s Major holders
Insiders own 2.07% of the company shares, while shares held by institutions stand at 97.22% with a share float percentage of 99.27%. Investors are also buoyed by the number of investors in a company, with Patterson-UTI Energy Inc. having a total of 372 institutions that hold shares in the company. The top two institutional holders are Blackrock Inc. with over 35.47 million shares worth more than $549.06 million. As of Mar 30, 2022, Blackrock Inc. held 16.40% of shares outstanding.
The other major institutional holder is Vanguard Group, Inc. (The), with the holding of over 23.99 million shares as of Mar 30, 2022. The firm’s total holdings are worth over $371.35 million and represent 11.09% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are iShares Core S&P Smallcap ETF and VanEck ETF Trust-VanEck Oil Services ETF. As of Jun 29, 2022, the former fund manager holds about 7.08% shares in the company for having 15.32 million shares of worth $241.43 million while later fund manager owns 8.07 million shares of worth $127.22 million as of Jun 29, 2022, which makes it owner of about 3.73% of company’s outstanding stock.